Q: In Nevada are non-probatable assets included in determining the size/value of an estate?
In Nevada my fathers estate is upward of $300,000. with real property. the properties are all deeded upon death to me, as are all his vehicles and bank accounts. He does have many investments that he has not discussed much so i don't know how they are handled.
it is my understanding that the properties, vehicles, and accounts mentioned above are not subject to probate. if this is true then are they included in the value of the estate?
for example if my estate is worth 1,000,000. with real property although the property that is worth 990,000. is non-probatable does that make my estate now worth 10,000?
A: The probate estate includes those items that have a title and can't be transferred from the deceased without a court order. Property in joint tenancy (where one joint tenant is still alive), or held with a transfer on death deed, or bank accounts payable on death are NOT in the probate estate. So, yes, with good estate planning all or almost of the estate may pass outside of probate.
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