Probate | Black & LoBello

Black & LoBello on AM720 KDWN

On March 14, 2012, in Asset Protection, Estate Planning, Guardianship, Probate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from March 7th, 2012. Christopher Phillips, Esq., who practices Probate, hosts with guest lawyer Tiffany Ballenger, Esq., who practices Estate Planning and Asset Protection at the law firm Black & LoBello in Las Vegas, Nevada. Ms. Ballenger and Mr. Phillips discuss how to protect assets against creditor issues (2:00), what is adult guardianship (4:50), the guidelines that executors should follow (8:33), buying foreclosed homes with robo-signing issues (12:01), what trustees can and can’t do with assets (16:55), problems with real estate agents (20:40), statute of limitations on probate proceedings (26:40), suing banks to refinance mortgage loans (31:05) and how AB 284 makes banks halt foreclosures (33:08).

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM. Listen live on the radio or online. Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

Tagged with: AB 284 • adult guardianship • asset protection • creditor issues • Estate Planning • executors of a will • Probate • robo signing

Black & LoBello on the Radio

On October 6, 2011, in Custody, Domestic Relations, Probate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from October 3rd, 2011. Christopher Phillips, Esq. hosts with guest lawyer Michele LoBello, Esq., fellow partner at the law firm Black & LoBello in Las Vegas, Nevada. Mrs. LoBello and Mr. Phillips talk about recording spouses for custody battles, new legislation that streamlines the probate process, creditor claim against a borrower’s probate or trust, out of state power of attorney, breach of contract for HOA and wills vs. trust.

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM. Listen live on the radio or online. Feel free to call in with your comments or questions at 702-257-5396.

Tagged with: breach of contract • custody battles • filing creditor claims • HOA • legal recordings • out of state power of attorney • Probate • will vs. trusts

Black & LoBello on the Radio

On October 4, 2011, in Asset Protection, Guardianship, Probate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from September 26th, 2011 in which Christopher J. Philips, Esq., discusses ways to avoid probate, the on-line public record of wills, the correct way to transfer assets through a will, family trust terms, buying a home after a foreclosure, amending a will for a divorce and fraudulent wills.

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM. Listen live on the radio or online. Feel free to call in with your comments or questions at 702-257-5396.

Tagged with: adult guardianship • family trusts • fraudulent wills • guardianship • homestead a house • Probate • transfer assets • will • www.clarkcountycourts.us

Black & LoBello on the Radio

On August 25, 2011, in Custody, Divorce, Domestic Relations, Probate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from August 22nd, 2011. Christopher Phillips, Esq. hosts with guest lawyer Michele LoBello, Esq., fellow partner at the law firm Black & LoBello. Mrs. LoBello talks about the effects of the economy on trends in divorce and custody, tips on pre-nuptial agreements, adoptions within a family and drug testing to determine custody.

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM. Listen live on the radio or online. Feel free to call in with your comments or questions at 702-257-5396.

Tagged with: adoptions of family members • consanguinity • Custody • divorce • domestic violence • family law • guardianship • Nevada • pre-nuptial agreement • Probate • restraining order • wage garnishment

Black & LoBello on the Radio

On August 22, 2011, in Asset Protection, Estate Planning, Probate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from August 15th, 2011 in which Christopher J. Philips, Esq., discusses the benefits of a living will, trustee questions, avoiding unnecessary probate fees, changes to estate planning documents to conform with Nevada Statutes and Nevada’s new Domestic Partnership law as it relates to probate.

Please tune in to AM720 KDWN to hear Christopher J. Philips, Esq., on the “Legal Hour,” every Monday, from 9 AM to 10 AM. Listen live on the radio or online. He will be discussing legal topics including Probate, Adult Guardianship, Trusts and Estate Planning. Feel free to call in with your comments or questions at 702-257-5396.

Tagged with: KDWN • Legal Hour • living will • Nevada • Nevada Domestic Partnership • Probate • unnecessary probate fees • videotaped will

SB 221 Clarifies Trusts and Estates

On August 15, 2011, in Asset Protection, Estate Planning, Legislation, Probate, by blacklobellolaw

SB 221 is intended to improve the law relating to trust and estate issues with the following objectives: (a) to simplify the process of transferring assets at death, whether or not probate is required; (b) to clarify the rights of creditors as to nonprobate asset and trust assets; (c) to clarify exemptions from creditors’ claims that do apply; and (d) to improve and update our laws to make Nevada an ideal jurisdiction for probate and trust matters.

Some highlights of the Bill include Sections 73 and 177 which give additional strength to no-contest clauses in wills and trusts and clarify that with certain important exceptions, a beneficiary’s share can be reduced or eliminated if they violate the provisions that a settler or testator has set forth even if that conduct does not constitute a formal contest of the will or trust.

A major new addition to the probate code provides for the Independent Administration of Estates Act which expedites the probate process and reduces the administrative costs of probate by allowing a personal representative to act more independently, involving the probate court only when needed for disputes or significant issues. This Section should allow executors to conduct activity such as selling real estate without the additional court appearances, filing fees and attorney fees currently associated with selling a parcel of real property through the probate court.

Section 196 provides that when a trust authorizes or directs a trustee not to provide an accounting, a procedure exists where the trustee provides the account to one or more reviewers who will determine whether the beneficiary’s interest in the trust is being properly administered without revealing the details of the account to the beneficiary.

Christopher J. Phillips, Esq.

Tagged with: beneficiary's share • death • Estate Planning • Independent Administration of Estates Act • Nevada • Probate • SB 221 • transferring assets • trust

What are some options when forming an estate plan?

On February 17, 2011, in Asset Protection, Estate Planning, by blacklobellolaw

Tagged with: advanced health care directives • assets • Black & LoBello • comprehensive • estate • estate plan • exemptions • family assets • finance financial health "video log" • financial power-of-attorney • grantor • health care documents • Las Vegas • medical decisions • Nevada • pour-over will • power of attorney • Probate • protection • Real Estate • revocable • state tax • title • trust

Nevada Probate Basics

On November 17, 2010, in Asset Protection, Estate Planning, Probate, by blacklobellolaw

Christopher J. Phillips, Esq., explains when a probate is required in the state of Nevada.

Tagged with: asset • attorney • Black • Chris • Christopher • death • deed • delays • intestate • joint • Las Vegas • lawyer • LoBello • management • Phillips • Probate • spouse • tenancy • testament • will

Nevada’s Support Statute For Spouses & Minor Children

On October 26, 2010, in Asset Protection, Domestic Relations, Estate Planning, Probate, Taxes, by blacklobellolaw

The Nevada Legislature has enacted a very powerful statute designed to provide support to surviving spouses and minor children when the gross estate is less than $100,000 (after deducting encumbrances) and avoid paying most, if not all creditors. NRS 146.070 provides that if a person dies with a spouse and no children, leaving a gross estate less than $100,000, the entire estate must be set aside for the support of the surviving spouse. The statute operates similarly for the support of a minor child in the event the decedent is not married and leaves only a minor child or children. This statute directs the decedent’s inheritance to the surviving spouse or minor children even if the decedent left a will leaving the estate to someone else.

This statute can allow heirs to avoid a long and costly probate process in the event that a proper estate plan is not implemented or assets are not titled appropriately at death. This statute can also be utilized by surviving spouses and guardians of minor heirs to avoid having to satisfy creditors such as credit cards, hospital bills, and other non-secured debt.

For example, if a married person with no minor children dies leaving a house titled solely in the decedent’s name, the value of which is $400,000, but has an encumbrance of $210,000, and the asset is community property, the equity in the house is $190,000, however only 50% of the value is subject to probate. Therefore, the net estate is only $95,000. Even if the decedent had $100,000 in separate debt such as student loans, NRS 146.070 provides that the entire estate, i.e. the entire house and all of the equity therein, shall be set aside for the support of the surviving spouse.

By utilizing Nevada’s community property laws and applying Nevada’s support statute in concert, even when an estate initially appears substantial, and probate seems unavoidable, surviving spouses can avoid lengthy and costly probate proceedings and minor children of the decedent can receive the support intended by the Nevada Legislature. This is yet another benefit in establishing residency in Nevada for estate and tax planning purposes.

Christopher J. Phillips, Esq.

Tagged with: asset • Black & LoBello • child • community • estate • Las Vegas • minor • Nevada • Probate • property • protection • spouse • statute • student loans • survivorship • tax • will

Nevada Probate Basics

On October 13, 2010, in Asset Protection, Estate Planning, Finance, by blacklobellolaw

What would happen to your assets if you died today? A proper estate plan can be the difference between an efficient, expeditious, and inexpensive distribution of your estate and an administration that takes years and costs tens of thousands of dollars. In Nevada, there are several mechanisms that can be implemented to avoid the expense of probate entirely.

When people do not establish a trust or take other steps to avoid probate, the Probate Court will then supervise all activities relating to the payment of the final expenses of the decedent, determine who is entitled to inherit the deceased person’s assets, and charge for those services.

Nevada has four levels of probate or estate administration.

Affidavit of Entitlement or Affidavit of Small Estate

If the deceased owned $20,000 or less and had no real property and no debts, the heirs can present a simple affidavit with a death certificate to a bank, DMV, or other entity in order to transfer title. In this case there is no need to file anything in Court.

Set Aside without Administration

If the deceased owned $100,000 or less, the heirs or beneficiaries under the Will can petition the District Court to distribute the decedent’s assets to the heirs or beneficiaries without any Court supervised administration. This procedure is relatively simple and economical.

Summary Administration

If the deceased owned assets valued between $100,000 and $200,000, either the deceased’s next of kin or the person the decedent designated in a Last Will and Testament as the Executor/Executrix must conduct a formal, Probate Court supervised procedure to administer the estate, pay the debts and distribute the remaining assets to the beneficiaries. If the deceased did not have a Will, a relative or other interested person may petition to administer the estate. The assets go to the relatives of the deceased in accordance with Nevada’s laws of intestate succession. This process cannot be completed in less than four (4) months and the administrative and attorneys’ fees associated therewith can be determined by a percentage of the total estate.

General Administration

If the deceased dies with assets in excess of $200,000, the estate must be administered under Probate Court supervision, as in a Summary Administration. The only difference between the two is that, in a General Administration, there is a longer period of time creditors have to file claims against the estate and the filing fees are almost double that of a Summary Administration. This process cannot be completed in less than five (5) months and it is not uncommon for an uncontested General Administration to take longer than one (1) year.

Probate Court can be avoided with an estate plan designed by a competent attorney. The costs for establishing mechanisms for avoiding the intervention of the Probate Court are generally much less expensive than conducting a Probate administration and generally lead to much fewer problems such as will contests, trust contests and other litigation which can lead to additional fees and delays.

Christopher J. Phillips, Esq.

Tagged with: 0% • Administration • affidavit • assets • Black & LoBello • Christopher • credit • death • debt • deceased • decedent • entitlement • excuses • fixes • interest • kin • Las Vegas • lien • Nevada • Phillips • Probate • Probate Court • rate • solutions • will

Black & LoBello’s Quarterly Newsletter: You Have Been Served! 2.4.2010

On October 1, 2010, in Asset Protection, Bankruptcy, Domestic Relations, Elder Law, Estate Planning, Finance, by blacklobellolaw

This edition of You Have Been Served! 2.4.2010 focuses on estate planning, probate, and asset protection services offered by Black & LoBello. We have acquired some of the finest legal minds in these areas. Schedule an appointment with us today to make sure your assets and your loved one’s are properly planned for and protected.

Tagged with: asset • Bankruptcy • Black • Black & LoBello • Chernine • Elder Law • estate • exemptions • Las Vegas • Nevada • planning • Probate • protection • statute • Tisha • trust

Reasons for Initiating Probate

On June 18, 2010, in Asset Protection, Elder Law, Estate Planning, by blacklobellolaw

The probate process begins after a family member dies and someone, either the executor of the will or a family member, initiates proceedings in probate court. There are certain reasons why an estate would need to be probated. First, property that is owned solely in an individual’s name must always be probated. This applies even when the deceased created a will that leaves property to another person because, when property is titled only in the name of the deceased, no one else is able to sign documents relating to that asset. The probate court will name a person who has the ability to sign any necessary documents.

Second, if a family member has passed away with outstanding debt, the creditors have a certain time period to initiate probate proceedings and file a claim against the existing estate in order to get paid.

Third, probate proceedings are always initiated when both parents of a minor child pass away. Usually, the probate process names a legal guardian of the child to protect that child’s financial assets.

Finally, probate proceedings are most commonly initiated when family members disagree on the distribution of their loved one’s assets. When family members fights over the division of the estate, the process can become both costly and emotional. Therefore, have a reputable attorney draft estate planning documents and ensure those documents are always updated and accurate.

Amy M. Friedlander, Esq.

Tagged with: assets • attorney • collect a debt • cost • court • creditors • dead • death • deceased • estate • executor • family members fight • fighting family members • financial assets • lawyer • legal gaurdian • Probate • testament • time period • will

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Black & LoBello

Providing exceptional legal services through personalized legal strategies.

Black & LoBello on AM720 KDWN

Black & LoBello on the Radio

Black & LoBello on the Radio

Black & LoBello on the Radio

Black & LoBello on the Radio

What are some options when forming an estate plan?

Nevada Probate Basics

Nevada’s Support Statute For Spouses & Minor Children