How to use wills and beneficiary designations to keep your family out of probate in Nevada — FAQ
Disclaimer: This is general information, not legal advice. Consult a licensed Nevada attorney to apply these ideas to your situation.
Detailed answer
Short answer: A will alone does not reliably keep assets out of probate in Nevada. To avoid probate, you must use non‑probate transfer methods — most commonly beneficiary designations, account titling (joint tenancy or payable‑on‑death), transfer‑on‑death registrations, or a properly funded revocable trust. Each tool works differently and you must coordinate them so your spouse and children inherit what you intend.
How a will works in Nevada
A will states who should get your probate estate when you die. Probate is the court process that transfers title to probate assets and resolves creditors and claims. If assets are titled in your name alone and have no beneficiary designation or transfer mechanism, they usually pass through probate under Nevada law. See Nevada probate statutes for wills and probate procedures: NRS Chapter 133 (Wills) and the probate chapters on the Nevada Legislature site.
What avoids probate
- Beneficiary designations — Life insurance, IRAs, 401(k)s, and many annuities transfer directly to the named beneficiary and bypass probate. The plan or policy usually governs distribution, so keep beneficiary forms up to date.
- Payable‑on‑death (POD) / Transfer‑on‑death (TOD) accounts — Bank accounts and securities can often be registered POD or TOD to a named beneficiary so funds transfer outside probate.
- Joint ownership with right of survivorship — Joint tenancy or community property with right of survivorship causes the surviving owner to receive the asset automatically on death.
- Transfer on death deeds for real property — Nevada permits certain nonprobate transfers for real property (look to the real property transfer statutes). Recording a valid TOD deed can transfer a home outside probate if statutory rules are followed. See the Nevada statutes relating to real property transfers: NRS Chapter 111 (Real Property).
- Revocable living trusts — A properly drafted and funded revocable trust owns assets during life and names beneficiaries at death. Because the trust holds title to assets, those assets typically avoid probate.
Common pitfalls to avoid
Even if you use the tools above, mistakes will cause assets to go through probate:
- Relying only on a will for assets that have beneficiary designations or are jointly titled (conflicts between documents).
- Failing to update beneficiary forms after major life events (marriage, divorce, births, deaths).
- Not funding a trust — moving assets into the trust is required for the trust to avoid probate.
- Using joint ownership to avoid probate without understanding tax and creditor exposure for the surviving owner.
- Recording a flawed TOD deed for real property that fails to meet the statutory requirements.
Example (hypothetical)
Sam and Riley are married with two children. They want Riley to get Sam’s share at death and then have everything pass to their children without probate. A common approach in Nevada would be:
- Designate Riley as primary beneficiary on Sam’s retirement plans and life insurance, and name the children as contingent beneficiaries.
- Change the title of bank and investment accounts to POD or TOD with Riley as primary POD/TOD payee and children as contingent POD/TOD beneficiaries.
- If they own a home, record a valid TOD deed (or retitle into a revocable trust) to ensure the house avoids probate.
- Create a revocable living trust, fund it with assets they want managed for the children, and set instructions for distribution after both parents die.
- Keep a simple pour‑over will that catches any assets not transferred to the trust and directs them into it, understanding the pour‑over will still may require a short probate procedure for those assets.
Key legal points under Nevada law
- Wills control only probate assets. They do not reach assets that pass by contract, title, or beneficiary designation.
- Beneficiary forms and account titling typically supersede a contrary will. Always confirm beneficiary forms are current and correctly completed.
- Using multiple methods at once (trusts, beneficiary designations, TOD deeds) is normal — coordination matters most.
- Nevada statutes address wills, probate, intestate succession, and property transfers — see general statutory resources such as NRS Chapter 133 (Wills) and NRS Chapter 134 (Descent and Distribution), and the real property chapter at NRS Chapter 111.
Helpful hints
- Inventory your assets: list titles, account numbers, named beneficiaries, and how each asset is titled.
- Review beneficiary forms regularly, and after life changes (marriage, divorce, births, deaths, moves).
- Coordinate your estate plan — make sure wills, trusts, beneficiary forms, and deeds work together rather than contradict each other.
- Fund your trust: transfer account ownership or retitle property into the trust if you expect the trust to avoid probate for that asset.
- Use contingent beneficiaries: name backups in case your primary beneficiary predeceases you or cannot accept the asset.
- Be cautious with joint ownership: it avoids probate but gives the co‑owner immediate ownership rights (and potential creditors’ exposure).
- For real property, confirm whether filing a TOD deed is appropriate and that the deed meets Nevada’s recording requirements; improperly prepared deeds can create title problems.
- Consider a short, pour‑over will that moves any overlooked assets into your trust, knowing it may require limited probate for those items.
- Keep clear, dated records of beneficiary forms and account‑titling changes so survivors can follow your plan.
- Consult a Nevada estate planning attorney to draft or review documents and to ensure compliance with Nevada statutes and recording rules.