Detailed Answer

When someone dies in Nevada, their individual assets generally pass through probate as part of the estate. Assets owned by a corporation remain corporate property unless a court finds grounds to pierce the corporate veil. Below are the key steps to distinguish estate assets from corporate assets under Nevada law.

1. Identify the Decedent’s Individual Assets

Start by reviewing documents in the decedent’s name alone. Common estate assets include:

• Real property deeds titled in the decedent’s name.
• Bank and investment accounts in the decedent’s personal name.
• Vehicles registered to the decedent.
• Personal belongings and household items.

Assets exclusively titled to the decedent at death form the probate estate. See NRS 134.010.

2. Identify Corporate Assets

Next, examine the corporation’s records and titles. Corporate assets typically include:

• Real estate, vehicles, or equipment titled in the corporate name.
• Bank and brokerage accounts held by the corporation.
• Intellectual property and business contracts in the corporate name.

Under Nevada Revised Statutes Chapter 78, a corporation is a separate legal entity. Courts treat its assets as distinct from personal estate assets. See NRS Chapter 78.

3. Understand Entity Separation and Veil Piercing

To include corporate assets in the probate estate, a party must convince a court to disregard the corporate entity. Nevada allows veil piercing only if individuals used the corporation to commit fraud or evade existing obligations. See NRS 78.390 (alter ego doctrine).

4. Examine Contracts and Transfer Documents

Review any contracts, shareholder agreements, or trust documents that reference the assets in question. A signed transfer or assignment document may reallocate ownership from the deceased’s estate to the corporation—or vice versa.

5. Determine Probate vs. Corporate Control

If an asset lacks proper corporate documentation but was titled in the corporation’s name, it may still be a corporate asset. Conversely, assets bearing the decedent’s name alone typically belong in probate. Clear title documentation resolves most disputes.

Helpful Hints

• Keep a detailed inventory of assets, noting title names and account holders.
• Request the corporation’s minute book and official records early.
• Check property and vehicle records with the Nevada Secretary of State.
• Consult a probate attorney when titles or transfers are unclear.
• Gather corporate documents: articles of incorporation, bylaws, and meeting minutes.
• Watch for co-mingled funds—mixing personal and corporate accounts complicates classification.