You might think that only folks with mansions on the beach and a gazillion dollars in the bank need to worry about estate planning. The reality, though, is that everyone should consider creating an estate plan.
Your assets, no matter how big or small, should be distributed according to your wishes after your death, and this may be accomplished through estate planning.
Nevada, like the majority of other states, has stringent laws governing the writing of a will. Legal stipulations of this sort can be found. Estate Planning Lawyer in Reno provides an overview of the steps involved in writing a choice, including the necessary steps and the process’s Who, What, & How.
“The Who”
Any Nevada resident who has reached the age of majority and is considered to be of “sound mind” may write a Will. The “testator” (the individual making the world) must be of “sound mind” to fully comprehend the nature and amount of their assets and how the Will would affect the distribution of those assets.
What Is It
In most cases, a Will in the state of Nevada needs to be written down. The topic of this piece is not “electronic wills,”; however, there is a narrow exemption for them. Take into consideration the fact that this indicates a video will not have any legal standing. Unfortunately, video recordings of your wishes about the division of your estate are not possible, unlike in the movies. If this happens, the probate court will disregard your video, and your assets will be distributed as if you had died intestate.
The specifics of a Will are always case-specific. Nevertheless, the following components must be included in everyone will be drawn up in the state of Nevada:
- It should be abundantly apparent in the Will that the testator intended for it to act as their testament.
- The testator must attest to their “sound mind” and maturity by stating as much in the Will.
- If applicable, include information on the testator’s marital and family status in the Will. If so, the names of the testator’s spouse and children should be included.
- The testator’s property, including the “residuary” of the testator’s estate, shall be distributed according to the terms of the Will.
- If the beneficiary named in the Will predeceases the testator, the estate should be distributed according to the terms of the Will.
The Will should name guardians for the testator’s minor children.
The How To’s Of Writing A Will
The signature and witnessing of a Nevada Will, also known as the execution, is arguably the most significant phase of making a Will in Nevada. A poorly executed will is not legitimate; therefore, taking your time and doing things well is important.
A valid Will in Nevada must have two eyewitnesses present when signing. In a real-life court case, one of the eyewitnesses entered the room next to where the testator executed the Will, rendering the document void. The courts have been quite stringent in their interpretation of these rules.
In addition to signing the Will in the presence of the testator and each other, the witnesses must also sign after the testator. This implies that the testator, witnesses, and the Will should be in a single room together until all parties sign the Will.
Not needed by law, but highly recommended, is having the witnesses sign either a “Self-proving Affidavit” or an “Attestation Clause.” These are not part of the Will itself but are used to show the court that the parties complied with all the necessary steps to have the Will legally recognised. NRS 133.050 includes illustrations as examples.
Summary
The Will becomes valid when witnesses have signed it. Keep the originals secure and provide a duplicate to the individual(s) you designated to fulfil your wishes. Get in touch with them if you still need clarification about how to create a Nevada will after reading this.
