Legal Question in Wills and Trusts in Nevada
What debts am I responsible for
My mother died having a living trust and named me as the executor and sole beneficiary.she left me all her assets including her home.She had several unsecured unsecured debts.I would like to sell the home and would like to know what obligation I have to these creditors.Also can they look to me for collection after I sell the home?
2 Answers from Attorneys
Re: What debts am I responsible for
You are responsible for those debts to the extent of assets you received from her.
Re: What debts am I responsible for
Under Nevada law, the trustee of a nontestamentary trust may after the death of the settlor of the trust cause to be published a notice in the manner specified in paragraph (b) of subsection 1 of NRS 155.020 and mail a copy of the notice to known or readily ascertainable creditors. Any Will executed under the estate plan of the deceased must be filed with the District Court Clerk. Creditors and government agencies that sit on their rights after proper and timely notice may be barred from seeking payment. Your attorney can advise further.
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