probate

Probate is an area of law that most people know very little about; however, it is Attorney Daniel J. Potucek’s main area of practice. Generally, attorneys do not inform and educate the public about Probate and Estate Administration. People are confronted with the reality of transferring the assets of the Decedent to their Beneficiaries only when a family member dies. It is difficult dealing with the death of a loved one, and the probate process can add to the stress of the situation.

Probate is the process in which the court supervises the transfer of the estate assets, such as real property, houses, money, vehicles, or whatever else the Decedent owned while living, to the Decedent’s Beneficiaries or Heirs. Daniel gives his clients the individualized attention necessary to ensure that the probate process goes smoothly and to allow clients time to cope without the extra worry about the distribution of their loved one’s estate.

The objective of probate is to transfer ownership or title of the Decedent’s property to a surviving family member, friend, or other entity. The transfer of ownership or title is done through the court Probate process, whether an individual dies with or without a Will, and leaves no other governing document such as a Trust. The recipient of a particular asset depends upon a variety of factors such as the terms in a Will identifying the recipient, state statutes, degree of kinship, character of the assets, etc.

If the individual dies with a Last Will and Testament, property will be left to the Beneficiary named in the Will. If the person dies without a Will, the property will be left to the Decedent’s heirs at law, usually a spouse, children, parents or siblings. Probate is a court proceeding for passing property from a deceased person to the Beneficiaries or heirs of the decedent.

The property of the decedent is referred to as the estate. A personal representative of the estate must be appointed. Because of the complexity involved in the probate process and the specific rules it employs, most people use a qualified attorney to handle the administration of an estate.

Among the duties that must be performed in probate administration are:

• A last will and testament, if any, will need to be located. If found, it must be filed with the Clerk of the Court within 30 days of the decedent’s death;
• All persons named in the will must be notified of the estate, and the date and time for hearing must be given;
• All heirs of the decedent must be located and notified of the hearing;
• A search for all assets of the decedent, including financial account, real estate, vehicles, personal property, stocks, bonds, contracts, and other assets. An inventory of all assets must be made and filed with the court;
• A search for all debts must be conducted, including the expenses of final illness and funeral. A list of all debts must be filed with the court, and notice must be given to all creditors;
• Assets must be sold, either to pay the debts of the decedent or to distribute to heirs. Court approval for the sale of real estate is often necessary;
• A federal and state tax identification number is needed for the estate;
  A final income tax return must be filed for the decedent, and an income tax return must be filed for the estate if it earns any income during the time in which it is administered;
• An estate tax return must be filed if the decedent left substantial assets;
• The personal representative must determine the amount of each debt and how much should be paid to each creditor. In case of a dispute, the personal representative may have to schedule a hearing with the court;
• The personal representative must determine who is to receive the remaining assets of the estate, either by the terms of the will or by state law. If a dispute arises, a court hearing may be necessary;
• A final accounting must be provided to the court and approved, itemizing all income, debts, sales, and distributions of the estate.

Daniel Potucek is an experienced, respected, and reputable probate attorney serving clients in Las Vegas and Henderson, NV. Because most people have no experience with probate law, and the probate process until the loss of a loved one, it is advisable to seek the help of a top probate attorney, to guide you through the process.

The process in which estate assets including homes, money, vehicles, and other real property are passed to heirs or beneficiaries, is known as probate.

Probate involves court supervision of the payment of a decedent’s debts, and the transferring of assets to heirs and beneficiaries.

Unfortunately, the probate process can be incredibly time-consuming, confusing, and stressful in the immediate aftermath of the death of a loved one. The probate process will be triggered for most people named as heirs or beneficiaries in Nevada. Even with a last will and testament, probate will be required. This will require the following duties to be fulfilled:

• Location of an existing last will and testament
• Filling of the last will and testament within 30 days with the Clerk of Court
• Notification of death to all persons named in the will of the estate, along with the date and time of the initial hearing
• Location of all assets belonging to the decedent, including financial accounts, real estate properties, vehicles, stocks, bonds, contracts, and all other assets.
• Inventory of all assets must be filed with the court
• Search for and inventory all debts owed by the deceased, to file with the court
• Notice of death must be provided to all creditors
• Assets must be sold to pay the debts
• Real estate sales approved by the Court
• A federal and state tax identification number for the estate must be secured
• A final tax return must be filed for the deceased
• Income tax return must be filed for the estate if any money is earned by the estate
• An estate tax return must be filed if the decedent left substantial assets
• Determine the amount of each payment that needs to be paid to each creditor
• Hearings may need to be scheduled with the court should dispute arise with payments to creditors
• The remaining assets of the estate will need to be distributed in keeping with the terms of the will or Nevada state law
• Final accounting will need to be presented and approved by the court, itemizing income,
  debts, sales, and distributions of the estate

Because probate is a complex, detail-laden process, it is common for the process to take six months or more to complete. There are many deadlines that must be met throughout the probate process. This is precisely why so many people reach out to The Law Offices of Daniel Potucek for help. As a Henderson and Las Vegas probate attorney, Daniel Potucek has years of experience handling the administration of an estate

The probate attorney will be responsible for the timely and accurate filing of documents during the probate process. This will prevent delays in the distribution of assets and prevent the estate from losing income. The probate attorney will work closely with the decedent’s personal representative to prepare all court documents, aid in tax preparation, and counsel the heirs and beneficiaries throughout the probate process.

Your probate attorney will provide guidance pertaining to the most efficient procedures, tax consequences, sales of assets, method of selling assets, and much more. They will also represent you in all court hearings. Your probate attorney will also notify you of assets that are not subject to probate such as life insurance and retirement accounts, or estates that are eligible for alternatives to probate, such as Summary Administration.

Contact top-reviewed probate attorney Daniel Potucek today for a free probate consultation by calling 702.558-3400. The Law Offices of Daniel Potucek serves clients from Henderson, Las Vegas, and surrounding areas.