Legal Question in Wills and Trusts in Nevada

Each state has its own laws governing succession and rules for transfer of real estate. It is very possible, if not probable, that without professional planning, each state will require its own probate proceeding where a decedent dies owning land within that state.

In Nevada, a good approach to avoid the delay, uncertainty and expense of two separate probate proceedings in more than one state, is to have a revocable living trust-based estate plan drafted whereby the landowner transfers to his revocable living trust all of his real property, vesting in the successor trustee each parcel upon death. This takes planning, preparation and advance legal expenses, but can save much more in the future.

Your attorney can explain further.

Under normal circumstances, a formal probate would be held in the county where the property owner resided at the time of his/her death. An ancillary probate would be conducted in the second jurisdiction (state) to reconvey the other property. Neither will be cheap or convenient for the family of the decedent and can be readily avoided. The best way to save the family all the hassles and considerable expense of the formal proceedings is to form a Revocable Living Trust now. The cost is not nearly as high as most people imagine, and it will afford tremendous peace of mind to the property owner and the family that survives him or her.

I strongly recommend you DO NOT download a form from the Internet or buy a CD from an office supply store. "One size fits all" does not really fit anyone, and it is important that the Trust you enter is fully, legally enforceable under the laws of both states. Hire a qualified pro who has done scores of Trusts for clients, and you can rest assured that it will do the job when you are gone.

Come visit a Sparks attorney to help you get this all straightened out.