Posted December 27, 2021 in Real Estate Terms
Are you dealing with a property in probate in Solera? You may not know where to start or what to do after a loved one dies and leaves their estate behind. Don’t worry! Experienced probate real estate agents are here to help! Below are the steps of the probate process if you are dealing with probate in Solera at Anthem. Know that almost every probate case is different, so be sure to be in contact with an experienced Henderson probate real estate agent as well as an attorney.
The first step to take to initiate probate is to file a petition for probate. You will need to do this at the county your loved one was residing in. If your loved one was living in Solera at Anthem, they will need to contact the Clark County Probate Department. The probate department of Clark County’s phone number is 702-455-2650. You will need to ask them which documents are required to start probate and what else you need to know about your probate situation.
The next step of the probate process for probate in Solera is having a court hearing. This court hearing will go over the petition and the documents completed in step one. This will be held about two or three months after probate is started. During this hearing, it is very possible that the executor or administrator of the will obtains a list of “to-dos” for the estate. After this hearing, several documents will also be issued. These documents may not come for another month or two.
During the probate process, notices also need to be sent within two to eight months after probate is initiated. Notices to creditors, or those the deceased owed money to, need to be sent out two through four months after probate is initiated. This notice will involve requesting a payoff statement. Notices are also sent to the Department of Health Services four to eight months after probate in Solera is started.
During this step, it is an only distribution to pay state and federal taxes. Paying taxes must occur six months to a year after probate begins. During this stage, you will also be filtering through the collector’s claims and making sure the collector has a valid amount and requests. It may be possible to negotiate with creditors, especially if there is not enough money in the estate to pay off all debts.
If one of the heirs is underaged, their parents or guardians will need to claim an exemption if the minor is to receive assets from the estate. This needs to happen six months to fifteen months after probate in Solera begins.
If there were taxes paid or due with the estate, after you pay them you should receive a final tax letter which you need to keep with your documents. This will be your proof that the executor or administrator can use it in case the government comes back and request more taxes on the estate.
You’re on the final stretch! In this step, you will file for final distribution and accounting. You will need all your payoff letters from creditors, state and federal government for taxes, and other documents specifically needed for your case. If the executor or administrator has done everything required of them, there shouldn’t be much more work after this step.
The court will go over the estate and what has been done to settle all debts, taxes, and more. If everything looks like it has been completed, the petition will be granted and the transfer of assets from the estate to the heirs will begin. This can happen eight to sixteen months after probate is started.
The last of the steps of the probate process! The last thing that needs to happen with the probate in Solera is that there needs to be a final discharge order. This occurs up to eighteen months after probate started, and can be more if the probate case is complicated. At this time the final funds from the estate will be distributed and the deceased’s estate will be dissolved as there will be nothing left of it.
If you are looking for experienced real estate agents for probate in Solera, contact Nevada Desert Realty at 702-509-1446!