Joint Tenants Vs. Tenants In Common & Double Probates
Sometimes we get contacted by a client whose right to property comes about through two separate deaths. Mom and Dad own a property, but instead of owning it as joint tenants, they own it as tenants in common. Sadly, if the title is Jack and Jill as Husband and Wife that is interpreted under Nevada law to mean tenants in common.
If the property is owned as joint tenants by two people, when the first one dies, the other automatically succeeds to ownership and this can be established by filing an Affidavit of Death of Joint Tenant.
Tenants In Common
But, if the property is owned as tenants in common and one dies and then the other dies, it will take two probates to get the property over to the heirs. Both probates can usually be filed simultaneously and in many cases our fees will be lowered for the second probate. For example, Mom and Dad have 3 adult children who are children of each and no children with another person and either there were no wills or each left everything to either their spouse or all 3 kids. In that case the double probate is easy. On the other hand, if Mom and Dad have no Wills and Mom dies first and had 2 kids by a prior marriage and then 3 kids with Dad and then Dad dies, this is potentially very complicated. If Mom's half interest as tenant in common was worth more than $100,000 when she died, her interest would be divided between Dad and all of her 5 kids and Dad's interest would go to his 3 kids.
If this is the case talk to us about a discount on the second probate. Both probates can be filed simultaneously.
Discounts on Nevada Uncontested Probate
We offer substantial discounts from statutory attorney fees in all Nevada uncontested probates and for uncontested California probates over $400,000.