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Does a Surviving Spouse Inherit Everything in Nevada?

Does a Surviving Spouse Inherit Everything in Nevada

As with just about every legal question, the answer to this is: it depends. Generally, if a married person passes away owning only community property, or if a married person passes away owning separate property, but has no surviving children, no surviving parents, no surviving siblings, and dies without a will or other type of estate planning in place, then the answer is yes – a surviving spouse will inherit all of the deceased spouse’s assets. As you can see, there are a lot of “ifs,” and that’s why the best answer is: it depends. Nevada’s community property laws will significantly impact how property is distributed during the probate process. If you’re unsure how these laws affect your estate, consulting a Nevada estate planning lawyer can provide clarity and guidance. LKP estate planning attorneys know how to structure your estate to produce the results you want. When planning your estate, it’s crucial to get advice from an estate planning lawyer in Nevada to ensure all legal aspects are covered comprehensively. A Las Vegas estate planning law firm can offer local expertise tailored to your needs. Call us at 702-333-1711 today so we can help create a plan for you and your family.

What is a Will?

A will is a legal document allowing you, the testator (the one creating the will), to state how you wish your property to be distributed among your desired beneficiaries upon your death, and who you wish to appoint as the person responsible for the administration of your estate. (Your “estate” is the legal entity that pays your debts and final taxes, and distributes your remaining assets after your death.) Your estate’s debts and obligations must be paid first. Then your remaining property can be distributed.

When you prepare and execute a will (or a living trust), you can decide if you desire people other than your heirs or next of kin to receive your assets upon your death, and in what amounts. You can set aside assets for charitable organizations or put your assets into a trust (which is advisable if your desired beneficiaries are minors, too young to manage the funds on their own, or have disabilities).

What Property Won’t Go Through the Estate?

Non-probate assets can pass directly to individuals without becoming part of your probate estate. Non-probate assets include those passing by the following methods:

  • By operation of law: This includes assets that are owned by two or more people in joint tenancy (including a “right of survivorship”), property owned by married couples as community property with a right of survivorship, and securities and accounts held with a beneficiary designation. This can be “in trust for” or “payable on death to,” followed by the beneficiary’s name. Nevada law allows a landowner to make a “deed upon death,” which transfers real property directly to a beneficiary upon death, and is revocable (it can be changed) during the landowner’s life.
  • Contractual terms: This covers contracts allowing the designation of one or more beneficiaries. This could be retirement accounts, annuities, some buy-sell agreements related to business entities, and life insurance policies.

There are exceptions to every rule. If an estate is the designated beneficiary under a contract, that’s where the assets will go. If a married person dies with non-probate assets, it is possible that these type of assets wouldn’t go to the surviving spouse if the surviving spouse is not entitled to such assets by operation of law or by contract.

How Does Community Property Law Impact a Spouse?

As mentioned above, Nevada’s community property laws play an important part in the probate process (i.e., the administration of a deceased person’s estate). With some exceptions, community property laws would govern the transfer of all assets acquired by a married couple during the marriage. Under community property laws, each spouse is entitled to a one-half share of the property when one spouse pre-deceases the other, whether or not there’s a will, and regardless of what’s stated in the will.

However, not everything a married couple acquires during marriage automatically becomes community property. If a spouse receives a gift or inheritance, it’s considered separate, not community, property. And only the spouse holding the separate property has the power to decide what happens to that spouse’s separate property upon death. Additionally, the deceased spouse has the right to decide what happens to his or her half of the community property upon death. By executing a will, a spouse can state who will receive that spouse’s one-half share of the community property and all of that spouse’s separate property.

But what if there is no will?

  • The surviving spouse receives the deceased spouse’s share of community property. The surviving spouse will also receive all of the deceased spouse’s separate property if the deceased spouse has no surviving parent, sibling, or issue (children, grandchildren, or more remote lineal descendants).
  • If the deceased spouse has one surviving child or issue of one child, a surviving spouse in Nevada will split the separate property of the deceased spouse equally with the child or their issue.
  • If the deceased spouse has two or more surviving children (or issue of said children), then the surviving spouse receives one-third of the separate property, and what remains of the separate property goes to the surviving children or issue.
  • If the deceased spouse has no surviving issue but has parents still living, half of the separate property goes to the surviving spouse, and the rest of the deceased spouse’s separate property passes to the parents.
  • If the deceased spouse has no surviving issue or parent but is survived by siblings, half of the separate property goes to the surviving spouse, and the other half of the deceased spouse’s separate property goes to the siblings in equal shares.

As you can see, there can be many different outcomes during the probate process, and having a will can greatly affect the outcome. Accordingly, you should consult with an attorney at LKP when dealing with these issues to ensure they’re handled properly.

Contact a Nevada Estate Planning or Probate Law Firm

If you need help planning your estate or if your family is facing a probate due to the death of a loved one, our experienced estate planning and probate attorneys can give you the information, advice, and representation you need. Contact us at 702-333-1711 to schedule a free consultation.

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