Nevada Estate Planning & Elder Law Information Blog

Happy Halloween!

Housing Assistance for Low-Income Seniors

Are you aware that the City of Henderson offers both Interest-Free Loans and Grants to assist with home repairs?  The program, offered through the City of Henderson Neighborhood Services, is designed to help low and limited income homeowners make necessary repairs to their residences.  To qualify:

1.   You must own your home for at least one year. 

2.   You cannot have more than $10,000 in cash or assets after the value of your home, its furnishings and two automobiles are excluded.

3.   You must fall within certain yearly income guidelines (The maximum for a one person household is $25,260.00 per year.  The maximum for a two person household is $28,860.00 per year.)

Grants are available up to a maximum of $2,500.00, and loans are available for up to $45,000.00.  The loans are both interest and payment deferred, and are secured by a Deed of Trust against the residence. The full amount of the loan is repaid when the property is sold, or the original applicant no longer resides in the home. 

To learn more about this and other beneficial programs offered by the City of Henderson click here or contact Lydia Camacho, Housing Rehabilitation Specialist at 267-2011.

Over the River and Through the Woods to Grandmother’s Probate We Go!

             

Being an executor for an estate is a seriously heavy burden.  Some may say it’s like carrying the weight of the world on your shoulders!  This is one of the many good reasons to explore creating a living trust for your estate.

The executor named in a will is the person responsible for settling and finalizing a deceased person’s estate according to the deceased wishes.  Some states use the term “personal representative” instead of executor.

Here is a list of most of the tasks you are asking your executor or personal representative to do after you are gone:

                         

Find your will
Seek advice from an attorney and retain if necessary
Locate the correct probate forms and apply to appear before the probate court (See Part 2 below)
Publish a “Notice to Creditors” and mail to each known creditor
Send notices of your death to the post office, utilities, banks and credit card companies
Notify beneficiaries named in your will
Inventory all of your assets and decide which to have appraised
Collect debts owed to your estate
File for your Social Security, civil service or  veteran benefits
File for your life insurance and other benefits
File applicable city, state and/or federal tax returns (Hire an accountant if necessary)
File state death and federal estate tax returns
Pay valid claims against your estate
Distribute your assets and obtain receipts from beneficiaries
File papers to finalize your estate

For protection, your personal representative should keep a copy of all records for at least two years. And your personal representative/executor should not hesitate to seek the guidance of a professional if he or she needs help in settling your estate.

And finally, all of this must be done in a timely, organized manner with government/probate court oversight while attempting to maintain family peace and harmony. 

For more insights, the Wall Street Journal recently published a great article "The Burden of Being an Executor" and you can read it by clicking HERE.

Over the River and Through the Woods to Grandmother’s Probate We Go! Part 2

If you have a will, wh ich is the bare minimum in estate planning and would like more insight into the complexities of probate, here is a little additional information:

The Nevada District Court, Probate Department has provided a 12 page “Synopsis of Nevada Probate Law” which you may access by clicking HERE.

Additionally, by clicking HERE and scrolling about halfway down the page you may access all of the following Nevada Probate Documents:

Affidavit of Entitlement to Estate

Affidavit of Publication

Attorney's Procedure Checklist

Certificate of Mailing

Creditor's Claim 

Inventory and Appraisal of Value MULTI PAGE (2) 

Letters of Administration 

Letters of Administration with Will Annexed 

Letters of Special Administration 

Letters Testamentary 

Notice of Hearing for Appointment of Administrator 

Notice of Hearing for Appointment of Special Administrator 

Notice of Hearing for Probate of Will and Issuance of Letters of Administration with Will Annexed 

Notice of Hearing for Probate of Will and Issuance of Letters Testamentary 

Notice of Hearing on First and Final Report and Accounting and Petition for Final Distribution and Approval of Costs and Fees 

Notice to Creditors 

Notice of Hearing to Set Aside Estate Without Administration (NRS 146.070)

Order Admitting Will to Probate and for Issuance of Letters

Order Appointing Administrator 

Order of Final Discharge 

Proof of Blocked Accounts

Avoiding the vast majority of the challenges, hassles and headaches associated with probating your estate is only one of the benefits of better estate planning which starts with a living trust. To learn more, contact our office for our schedule of complimentary estate planning seminars, or for your personal estate planning meeting with Allison. As always, there is no charge for your initial meeting with Attorney Allison Herr.