What is a Last Will and Testament


A Nevada Last Will and Testament, when prepared and executed properly by a person who is an adult of sound mind with legal responsibility for his- or herself, is a formal document that specifies how their assets or estate will be managed and distributed after their death. The person who dies is formally referred to as the decedent. If the decedent has minor children, the Last Will and Testament may also be used to designate who they want to care for their children and who they wish to handle their childrenís inheritance/finances until each child comes of age (usually 18, but you can designate a different age) to handle their finances on their own.

In a Last Will and Testament, the decedent usually also names a personal representativeóor co-personal representatives (two or more persons acting together in this capacity)óto manage the matters of the estate. The personal representative is the person who gathers all of the information about the decedentís debts and assets, pays outstanding debts using the assets on behalf of the estate, and ensures that the decedentís property is distributed as specified in the Will, so this is a job with a lot of responsibility, and the personal representative selected is usually someone the decedent really trusts to follow through on the details and with his or her wishes.

If a person dies without having a valid Last Will and Testament (which usuallyóin most statesómeans it must be properly witnessed, as wellónot just signed), someone will usually be appointed by the court to be the personal representative and will pay the decedentís debts, liquidizing assets as necessary to do so. Then the remaining assets will be distributed among the decedentís heirs according to the laws of the state the decedent lived in.

In some states, if one spouse dies leaving behind a husband or wife, that living spouse will inherit all of the decedentís property in the absence of a Last Will and Testament stating to the contrary. In other cases, the decedent may have specified a particular beneficiary to inherit a life insurance policy, retirement account, or other asset, and that beneficiary designation will dictate who receives those assets in the absence of a Nevada Last Will and Testament.

The important thing to note is that anyone who wishes to designate how their assets will be distributed after their death should prepare and properly execute a Last Will and Testament to ensure their wishes are known and honored. If they donít, they may be leaving it up to chance, the laws of the state in which they reside at the time of their death, or a court of law as to how their final affairs will be settled.  Nevada free information on last will and testament forms.

Legal Requirements for Last Wills in Nevada

The US state of Nevada has its laws that determine the procedure for transferring property and entering into inheritance. For this reason, each testator should carefully read the provisions for making a Last Will.

A Last Will is a formal document that defines the procedure and conditions for the transfer of the testator's property to the beneficiaries. Such a process in Nevada determines how the property will be transferred and to whom. Since the document is not binding, the testator independently defines the circle of beneficiaries, personal representatives, guardians for children, and witnesses.

The transfer of inheritance in the event of a person's death is carried out by the Last Will to the following persons:

  • Spouse and children

  • Parents

  • Brothers and sisters

  • Aunts and uncles

  • Grandparents

In general, the testator chooses the heirs, including even other relatives and friends. Moreover, you may leave your inheritance (real estate and assets) to charities and third parties. If there are minor children, the testator appoints guardians who will take care of them and bring them up. Regardless of the type of inheritance, the district court controls and ensures the legality of the entire process. If there are problems or conflicts, the beneficiaries should go to court.

Absence of the Last Will

Some people do not want or do not have time to make the Last Will before they die. In this case, the following order of inheritance of property applies in Nevada. The surviving spouse inherits all the property, provided that the deceased person has no children. Otherwise, the children as the heirs of the first category receive the property, and that's why the spouse will receive only part of the property. Such cases are regulated by the laws of Nevada to avoid misunderstandings, conflicts, and other problems.

The second point is the transfer of the inheritance to the parents. In principle, they inherit the property in the same order as the spouse. If there is no spouse, parents, and children, the next of kin receive an inheritance.

Significant Provisions

For a better understanding of the inheritance process, read the requirements for Last Wills:

  • 18-year-old (and older) age

  • Common sense

  • Mandatory signature of the testator and witnesses

  • A written form of the document

  • Transfer of property to any person

  • A handwritten form of the Last Will is possible

  • A person may change the Last Will at any time

In Nevada, there is another significant provision regarding inheritance. If the property provided in the Last Will is insufficient for the spouse and minor children, these persons are legally entitled to additional family property (house, clothes, money).

Annulment of the Last Will

The testator may revoke or amend the Will at any time. There are several ways to cancel: change with subsequent application of the Will and destruction, termination of the document. In any case, this process is controlled by the testator's representative and the court. Also, in case of divorce, the spouse may not receive part of the property of the deceased person.



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