Is Your Estate Plan Ready for the New Year? A Year-End Checklist for Reviewing Your Will and Trust

Why a Year-End Review of Your Will and Trust Matters in Nevada

Key Takeaways: Yes, the start of a new year is ideal for reviewing your Nevada will and trust, since life changes like marriages, births, moves, and new assets can quietly outdate documents signed years ago. A year-end review should confirm your will meets Nevada’s execution formalities under NRS Chapter 133 and address holographic or electronic will requirements. It should also account for estate valuation and the small estate affidavit 40-day rule, which determines whether your family faces full or streamlined probate. Retitling assets and updating beneficiary designations, especially funding a revocable living trust, can keep property out of probate. Reviewing no-contest clauses, incapacity documents like powers of attorney and healthcare directives, and recent Nevada law changes further protects your beneficiaries.

Yes, the turn of the calendar is the ideal moment to confirm your estate plan reflects your wishes and current Nevada law. Life changes such as marriages, births, moves, and new assets can quietly outdate documents you signed years ago. A focused year-end estate plan checklist for Nevada residents helps you catch gaps before they become problems.

For personalized guidance, the team at Hernandez and Massi is ready to help. Call our office at 702-870-1100 or reach out through our online contact page to schedule a Las Vegas will and trust review with a Nevada estate planning attorney.

Confirming Your Will Still Meets Nevada Execution Requirements

A year-end review should begin by confirming that your will satisfies Nevada’s execution formalities, because an improperly executed document may be found invalid by a court. Under Nevada’s validity rules in NRS Chapter 133, a will generally must be in writing, signed by the testator or by another at the testator’s direction, and signed by two competent witnesses. The Nevada Self-Help Center’s guidance on these requirements is available through the state courts’ probate overview resources.

Execution Formalities and Common Pitfalls

Small technical defects are among the most common reasons a will faces a challenge. Missing witness signatures, unclear revocation of prior wills, or ambiguous language can all invite conflict. Nevada law allows will contests both before and after probate, so a stale or ambiguous document may attract challenges from disinherited heirs. Updating your will in Nevada each year reduces that risk.

Holographic and Electronic Wills

Nevada recognizes both holographic and electronic wills, but each carries strict requirements. A holographic will must have its signature, date, and material provisions in the testator’s own handwriting (NRS 133.090), while an electronic will requires an electronic signature paired with either an authentication characteristic of the testator, the electronic signature and seal of an electronic notary public, or the electronic signatures of two or more attesting witnesses (NRS 133.085). Authoritative copy and qualified custodian requirements are addressed separately under NRS 133.300-133.340. Recent legislation simplified Nevada’s electronic will statutes under NRS Chapters 132 and 133 and now allows a qualified custodian to convert an electronic will into a certified paper original. If you rely on a handwritten or digital document, a year-end check confirms it meets these conditions.

💡 Pro Tip: If you signed an electronic will during the pandemic era, confirm that a qualified custodian still controls the authoritative copy, since a lost or duplicated file can complicate probate later.

Understanding the Nevada Small Estate Affidavit 40-Day Rule

Estate size determines which probate track applies in Nevada, and the Nevada small estate affidavit 40-day rule is a key threshold to understand during your year-end asset valuation. For smaller estates that include no real property, an affidavit of entitlement generally may be used when the estate is valued under $25,000, with a higher limit of $100,000 available to a surviving spouse. Nevada’s simplified procedures under NRS Chapter 146 allow certain successors to collect property without full administration once the required 40-day waiting period has passed.

The probate path in Nevada scales with estate value. The table below outlines the general categories, though the exact procedure available depends on your specific facts.

The Nevada small estate affidavit 40-day rule reflects why timing and valuation reviews matter. Larger-estate probate may require notice to creditors, who are generally paid before heirs and beneficiaries receive anything. Reviewing valuations at year-end helps you anticipate whether your family may face full administration or a streamlined process.

Retitling Assets and Updating Beneficiary Designations to Avoid Probate

Avoiding probate in Nevada often comes down to how your assets are titled, not just what your will says. Probate is not always necessary when co-owners or beneficiaries are already identified on an asset. Retitling accounts and updating beneficiary designations is a core year-end checklist item that can keep property out of probate entirely. This step is especially valuable for a revocable living trust in Las Vegas, where funding the trust is what makes it work.

Trust Funding and the Heggstad Fix

One of the most overlooked steps is confirming that assets were actually retitled into your trust. A trust that was never funded generally cannot control assets still held in your individual name. Nevada law provides a codified procedure under NRS 146.070 that may allow a probate court to set aside a qualifying estate to the trustee of the decedent’s inter vivos trust, subject to statutory value limits. Even with this safeguard, proper funding during your lifetime is far cleaner than relying on a court petition later.

A short year-end checklist can help you organize the review. Consider confirming the following items before January:

• Deeds and account titles held in your revocable living trust

• Beneficiary designations on retirement accounts and life insurance

• Your will properly revokes and supersedes any older versions

• No-contest clause language aligns with current Nevada statutes

Protecting Beneficiaries: Will Contests and No-Contest Clauses

Nevada gives interested persons limited windows to contest a will, which is one reason to keep your documents current and clear. Before probate, any interested person may file written opposition under NRS 137.010. After a will is admitted, an interested person generally has three months to contest under NRS 137.080, and if no timely contest is filed, the probate generally becomes conclusive under NRS 137.120. The full framework appears in Nevada Revised Statutes Chapter 137.

Nevada enforces no-contest clauses, but with statutory exceptions. Under NRS 137.005, an in terrorem clause may be enforced against a challenging beneficiary, subject to carve-outs that apply in certain circumstances. Because these exceptions are interpreted based on specific facts, anyone relying on such a clause should confirm the drafting still matches current law. Choosing a trustworthy fiduciary also matters, and you can learn more about who may serve as an executor under Nevada law.

Incapacity Planning and Recent Nevada Law Changes

A complete plan addresses incapacity, not just death, through Nevada powers of attorney and healthcare directives. Nevada’s NRS 162A.330 allows certain individuals to petition the court to construe a financial power of attorney, and the general declaratory judgment statutes (NRS 30.040 and NRS 30.060) may also be used by interested persons to seek construction or validity determinations of legal instruments. Keeping these documents current helps your chosen agent act without unnecessary court involvement.

Trust Provisions Worth Reviewing

Nevada’s 2021 reforms under AB 318 became effective October 1, 2021, and touched many areas of probate and trust law. The Clark County Bar Association’s overview of these pandemic-era legislative changes is a helpful reference point for confirming your documents reflect current statutes. Trust-specific updates worth reviewing include settlor reimbursement authority, clarification of when a declaration of trust suffices under NRS 163.002, trustee power to combine or divide trusts under NRS 163.025, and amended decanting provisions. A trust administration attorney in Las Vegas can help you evaluate whether these changes affect your plan.

Failing to update a will, or having it invalidated, can leave your estate governed by intestate succession. Without a valid will, Nevada’s laws of intestate succession in NRS Chapter 134 control distribution based on surviving relatives rather than your wishes. That outcome may not reflect the priorities of Nevada estate planning for families with minor or special-needs children.

Frequently Asked Questions

1. What is the Nevada small estate affidavit 40-day rule?

It refers to the waiting period and value limits for using a small estate affidavit. Under Nevada’s simplified procedures in NRS Chapter 146, certain successors generally may collect property using an affidavit once the statutory 40-day waiting period passes and the estate falls under the applicable value threshold.

2. How often should I review my will and trust?

Reviewing annually, such as during a year-end check, is sound practice. Major life events like marriage, divorce, births, or significant asset changes should also trigger a review.

3. Do I still need a trust if I have a will?

A will and a revocable living trust serve different functions. A properly funded trust can help with avoiding probate in Nevada, while a will directs assets that remain in your individual name. Many families use both.

4. What happens if my trust was never funded?

Assets left in your name may still require probate. In qualifying cases, Nevada courts may set aside such an estate to your trust under NRS 146.070, but funding the trust during your lifetime is generally the cleaner approach.

5. Can a no-contest clause stop someone from challenging my will?

It can discourage challenges, but exceptions apply. NRS 137.005 enforces no-contest clauses subject to statutory carve-outs, and courts interpret those exceptions based on the specific situation.

Making Your Estate Plan New-Year Ready

A thoughtful year-end review keeps your will and trust aligned with your wishes and with current Nevada law. From confirming execution formalities and trust funding to updating powers of attorney and understanding the small estate affidavit 40-day rule, each checklist item helps protect your beneficiaries and minimize court involvement. Because outcomes depend on your specific facts, working with a Nevada estate planning attorney offers clarity and peace of mind. You can explore the firm’s full range of wills, trusts, and estate services to see how these pieces fit together.

Start the new year with confidence in your plan. Contact Hernandez and Massi today by calling 702-870-1100 or by using our secure contact form to schedule your year-end estate plan review with a trusted Las Vegas team.

Disclaimer: This content is for informational purposes only and is not legal advice. Every case is unique, and results may vary. Consult an attorney about your specific circumstances.