Legal Question in Wills and Trusts in Nevada

my ex husband borrowed 20,000.00 from his mother. There is a promissary note stating that 10,000 would be paid off in 2006, and the remaining 10,000 would be paid off in 2008. My ex husband has passed away. Now my children are to inherit his estate. We had no knoweledge of this promissary note, and have no way of knowing if it has been paid in full or in part. It was not updated when the 2008 time passed. Are my children obligated to pay for an outdated promissary note?


Asked on 6/30/10, 5:32 pm

1 Answer from Attorneys
Paul Malikowski Malikowski Law Offices, Ltd.

Subject to the probate homestead exemption and provisions for setting aside small estates, Nevada law requires that creditors are paid prior to distribution of an estate to heirs. The goal of the statutory exceptions is to protect widowed spouses an minor children. Even when documented by a promissory note, an intra-family advance of money such as the one you describe could be found by a court to be a gift, instead of a loan. But now the promissory note maker is deceased, so there may not be a lot of evidence to support such an assertion, which assertion would be completely contrary to the written instrument. Your attorney can explain further.

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Answered on 6/30/10, 9:23 pm


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