Legal Question in Wills and Trusts in Nevada
My husband's parents are both deceased and they have a number of savings bonds in each of their names. The total amount is less than $2500. My father-in-law was an Orlando, Florida resident when he passed away in 1994. My mother-in-law had just moved to Las Vegas, Nevada when she passed away 15 days later in 2009. My father in law's will lists his wife as beneficiary. Her will lists my husband as her beneficiary. He is the only surviving family member. What does he need to do to cash these in?
1 Answer from Attorneys
Several legal issues are raised here. Because your father-in-law was a Florida resident at the time of his death, any probate proceeding would have to be conducted in Florida for assets retained in his name, only. If that is the case, then Florida law will govern, and if they have a "small estates" or other streamlined, low dollar value probate avoidance approach, that would be the best course to take. That normally involves something as simple as an "Affidavit of Entitlement" or other non-court proceeding for such a small dollar level. Such a procedure usually is available only when the decedents did not own real property, but your husband needs the advice and counsel of a Florida attorney to find the details.
As for the mother's assets in Nevada (and because she was, arguably, a Nevada resident at the time of her death), if they similarly do not include real estate and are at a similarly low dollar level (under $20k in Nevada), such an Affidavit of Entitlement will work to move them to your husband's name in Nevada.
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