Legal Question in Wills and Trusts in Nevada

Insurance Beneficiaries and Debt

I recently remarried and have substantial debt. I have not redone my will or changed my life insurance beneficiary yet. Since Nevada is a community propery state, I realize that the debtors will seek restitution from my husband in the event of my death. But, what if I were to have my beneficiary split out among my husband and my adult children? Will the debtors be able to seek repayment from my children also?


Asked on 10/09/06, 6:12 pm

1 Answer from Attorneys

Paul Malikowski Malikowski Law Offices, Ltd.

Re: Insurance Beneficiaries and Debt

This question represents a good example of the range of commonly held misconceptions regarding community property laws, separate and premarital debts and the distribution of decedents' estates. One way that families can remain supported after the demise of a breadwinner is through resort to the "probate homestead", found in Nevada law.

NRS 132.280 �Probate homestead� defined. �Probate homestead� means a homestead that can be set apart by the court pursuant to NRS 146.020.

Although life insurance commercials on television imply that adult children may be saddled with the old debts of their deceased parents, that situation is rarely, if ever, actually faced by the survivors.

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Answered on 10/09/06, 7:33 pm


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