Recent changes in Nevada laws have introduced new options for residents, particularly regarding wills and probate processes. These changes can have significant implications for how estates are planned and managed. Estate planning is already a critical component of managing your assets and ensuring that your wishes are honored after your passing.
The estate planning attorneys at Clear Counsel Law Group see the changes put forth in the new law as a net positive.
Understanding the New Law
The law allows residents to seek a court’s confirmation of their will’s validity while they are still alive. This proactive approach to estate planning is a significant shift from traditional practices. Normally, the validity of a will is contested after the death of the person who made it. This new law allows for a ‘pre-death’ validation, which means that a court can confirm that your will is legally sound while you are still alive to testify about your intentions. This concept is based on the idea of ‘declaratory relief.’
Declaratory Relief in Action
Declaratory relief is when a court is asked to clarify your rights or legal standing. This comes up in contract law and business disputes often. However, it is a standard process in many aspects of law, now being applied to estate planning and probate law.
For estate planning, this means you can request a court to officially declare your will valid before your death. This process can head-off future disputes and legal battles among your heirs. Rather than spending time arguing and seeking evidence to indicate the state of mind and intent of a now-deceased individual, the court confirms these properties.
Why This Matters
Imagine a scenario where, for personal reasons, you choose to leave out a family member from your will, or you decide to allocate your assets unequally among your children. Such decisions often lead to will contests. Since these contests only come after your death, they lead to costly and emotionally taxing legal battles. By securing a court’s declaration of your will’s validity while you are alive, you can significantly reduce the likelihood of such disputes.
An Open Court Procedure
If you decide to go this route, be prepared for an open process. Your children and anyone named in your will must be notified of your action. This means that a disinherited child will have the opportunity to challenge your decision in court. However, the awkwardness and difficulty of contesting a will in front of a living parent may deter many from pursuing this course of action.
It can be difficult for a parent to tell a child, a sibling, or other beneficiary that they are going to be cut out or disproportionately inherit. Leaving these kinds of surprises in a will can be made easier by having them only come up after you’re gone.
Being in a courtroom and listening to a disinherited child or other family member proclaim that you are not of legal capacity, that you’ve been coerced or otherwise compromised, is painful. This goes both ways; it may well prevent even the first contest. Facing someone who is still living and trying to convince them, and the court that something is wrong is an uphill emotional battle. Many disinherited or ‘wronged’ beneficiaries are just as likely to avoid making their dismissal that much more public.
Changes in Estate Planning Strategies
This new law is particularly important for those considering ‘nontraditional’ estate planning, like unequal distribution among children or disinheriting a family member. It offers a chance to address potential conflicts and challenges in advance, thus ensuring that your true intentions are honored without the cost and conflict of post-death litigation.
Since this process is done in an open court hearing, it involves notices and hearing petitions brought by those who feel wronged. Changes made to a testamentary document (will or trust) made after this initial declaratory relief would require a new hearing and to repeat the process.
Consulting with Estate Planning Experts
Nevada estate planning attorneys are well-versed in the states ever-changing laws. They can guide you through the process of creating your will, including making nontraditional decisions, and advise you on whether it makes sense to seek a court’s validation of your will. If you’re a Nevada resident, it’s worth considering how these changes can benefit your estate planning strategy. Remember, consulting with knowledgeable attorneys can provide clarity and confidence whenever your circumstances and needs change.