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Posted on December 15, 2024 in estate planning
Estate planning may not be at the top of your mind now, but creating a will to protect your wealth is essential regardless of how much you own or have. If you live in Nevada, you should understand the requirements for a will to be legally valid before you consider what approach you will take to create one, especially if you are asking yourself, “Can I write my own will and have it notarized in Nevada?”
To answer this question adequately, you should be informed about the differences between doing your will on your own with the help of a notary and hiring a qualified Las Vegas will lawyer to assist you with drafting a legally sound will.
A will is a legal document that provides instructions on how your wealth should be managed once you pass away. A will may also include a testamentary trust with specific instructions on how a beneficiary’s portion of the estate is to be distributed. Additional last wishes can also be included in a will, such as who will receive guardianship of one’s minor children in case of death.
In Nevada, a person’s non-marital assets are distributed based on the state’s intestate laws. If a person has no will or trust that outlines what should happen to their estate, the probate process distributes their wealth to a living spouse, children, or next of kin. If no living relatives are found, their wealth will revert to the state. This happens after all your debts have been paid.
A will’s legal validity in Nevada is dependent on the following factors:
You may not need witnesses if you leave a handwritten will.
Once a will is written, the testator can assign an executor to file your will in probate court, or it can be kept by a trusted attorney or in your home.
You are not legally required to hire an estate planning attorney to create your will. As long as you meet the requirements for a will to be valid, as stated above, the will can be legally sound.
You also do not need to notarize your will. However, notarizing it can make it “self-proving,” further adding to its validity. Witnesses may also sign affidavits and notarize them to make them self-proving. The affidavit serves as evidence in lieu of the witnesses’ testimony in probate court if needed.
Even though it is relatively simple to write your own will and notarize it in Nevada, it is highly recommended that you work with a knowledgeable estate planning lawyer when creating your will to make sure it meets the basic requirements.
You may not be able to find the answers to all your will-related questions through a simple internet search since each situation is different. Additionally, a notary cannot give you legal advice. You can rest assured that all your concerns can be addressed when speaking with a seasoned attorney.
The way a will is written can make the difference between the will being valid and invalid. If you do not want your children to inherit your home, for instance, you need to explicitly say something to that effect in the will. Simply not including them can lead to a claimant challenging your will.
Upon a will’s execution, there are tax implications for the estate and the beneficiaries. A skilled estate planning attorney who understands inheritance and tax laws can help you and your beneficiaries know what they are liable for.
For those who have a large estate, complicated family dynamics, or who want to ensure that their last wishes are not challenged, a Nevada estate planning attorney can be indispensable.
A: For a will to be valid in Nevada, it must be written and signed either by hand or electronically by a testator (the person who is writing the will). If it is an electronic will, it should include the signatures of two witnesses. Additionally, the testator should be at least 18 years old and of sound mind.
A: You can write your own will in Nevada, though it is highly advised that you enlist the support of a qualified Nevada estate planning attorney to write it. When you write a will on your own, you may fail to take into consideration aspects of the law, including marital property laws, tax and inheritance laws, and specific clauses you may need to include to ensure your last wishes are respected.
A: Handwritten wills, also known as holographic wills, are valid in Nevada. As long as the testator is at least 18 and it is proven that a will was not written under duress, it is legal. A handwritten will has other specific requirements. You should review your handwritten will with a knowledgeable attorney to make sure it is legally valid.
A: The cost of a will in Nevada varies based on many factors. If you decide to file your will for deposit with a county court while you are living, you may have to pay a small fee. There may also be attorney fees and other court fees for managing and executing a will.
Wills are there to protect your wealth and pass it along to your loved ones in the most optimal way possible. Though a will that is written and notarized without the assistance of an estate planning attorney may be valid, it is highly recommended that you create your will with the guidance of a legal professional who understands estate planning well – especially if you have a large estate or you are afraid your relatives may contest your will upon your passing.
The trusted estate planning attorneys at Ken R. Ashworth & Associates can assist you with all your estate planning needs, including writing your will and answering your tax-related questions.
Schedule an initial consultation so we can answer your estate planning questions in more detail.
