A last will and testament is an important step in planning for the distribution of your estate (assets, both real and personal) upon your death. A will and last testament is a written legal document by which a person, the testator (you), expresses their wishes as to how their property is to be distributed at death, and names one or more persons as the Executor to manage the estate.
The Will is submitted (lodged with) the Court and your Executor files with the Court to begin the probate process. The Will is the "instructions" to the Court as to how you wanted your estate (your stuff) to be distributed (given) to those named in the Will.
Your heirs will have to go through the probate process with the court in order to receive any distribution of your estate (if not a designated beneficiary). A Will is not required, but without one, the laws of intestate succession will determine the distribution of your assets. The distribution through intestate succession may not be to the people you desire. Thus, a Will sets forth your wishes and distribution of your assets accordingly.
HOW IT WORKS
Basic Requirement for a Will:
The person making the Will (Testator) must be at least 18 years old.
The person must be of sound mind.
Must be signed by the person making the Will.
A Nevada Will must be witnessed by two other people (not related) at the same time the person signs the Will. *Nevada law allows a Will to be signed, witnessed, and notarized electronically, or virtually, and still be legally valid. See NRS 163.0095 and NRS 13.085.
Must be in writing to be valid. Can be handwritten (holographic) or electronic as well.
A person can leave property (real and personal) to anyone
- Last Will and Testament
- Memorandum for Distribution of Personal Property
- Declaration of Authority of Remains upon Death
- Burial Instructions
- Financial Power of Attorney
- Healthcare Power of Attorney
- Living Will
- HIPPA Authorization