1. All or part of the estate of a decedent may be set aside without administration by the order of the court as follows: (a) If the value of a decedents estate does not exceed $150,000, the estate may be set aside without administration by the order of the court; or (b) If a decedents will directs that all or part of the decedents estate is to be distributed to the trustee of a nontestamentary trust established by the decedent and in existence at the decedents death, the portion of the estate subject to such direction may be set aside without administration. Any portion of a decedents estate set aside to the nontestamentary trust pursuant to this paragraph is subject to creditors of the estate unless the petitioner provides proof to the court that the trustee has published or mailed the requisite notice to such creditors on behalf of the nontestamentary trust and settlor pursuant to NRS 164.025 . 2. Except as otherwise provided in subsection 3, the whole estate set aside pursuant to paragraph (a) of subsection 1 must be assigned and set apart in the following order: (a) To the payment of the petitioners attorneys fees and costs incurred relative to the proceeding under this section; (b) To the payment of funeral expenses, expenses of last illness, money owed to the Nevada Health Authority as a result of payment of benefits for Medicaid and creditors, if there are any; (c) To the payment of other creditors, if any; and (d) Any balance remaining to the claimant or claimants entitled thereto pursuant to a valid will of the decedent, and if there is no valid will, pursuant to intestate succession in accordance with chapter 134 of NRS. 3. If the value of the estate does not exceed $150,000 and the decedent is survived by a spouse or one or more minor children, the court must set aside the estate for the benefit of the surviving spouse or the minor child or minor children of the decedent, subject to any reduction made pursuant to subsection 4 or 5. The court may allocate the entire estate to the surviving spouse, the entire amount to the minor child or minor children, or may divide the estate among the surviving spouse and minor child or minor children. 4. As to any amount set aside to or for the benefit of the surviving spouse or minor child or minor children of the decedent pursuant to subsection 3, the court must set aside the estate without the payment of creditors except as the court finds necessary to prevent a manifest injustice. 5. To prevent an injustice to creditors when there are nonprobate transfers that already benefit the surviving spouse or minor child or minor children of the decedent, the court has the discretion to reduce the amount set aside under subsection 3 to the extent that the value of the estate, when combined with the value of nonprobate transfers, as defined in NRS 111.721 , from the decedent to or for the benefit of the surviving spouse or minor child or minor children of the decedent exceeds $150,000. 6. In exercising the discretion granted in this section, the court shall consider the needs and resources of the surviving spouse and minor child or minor children, including any assets received by or for the benefit of the surviving spouse or minor child or minor children from the decedent by nonprobate transfers. 7. For the purpose of this section, a nonprobate transfer from the decedent to one or more trusts or custodial accounts for the benefit of the surviving spouse or minor child or minor children shall be considered a transfer for the benefit of such spouse or minor child or minor children. 8. Proceedings taken under this section must not begin until at least 30 days after the death of the decedent and must be originated by a petition containing: (a) A specific description of all property in the decedents estate; (b) A list of all known liens and encumbrances against estate property at the date of the decedents death, with a description of any that the petitioner believes may be unenforceable; (c) In the case of a petition brought pursuant to paragraph (a) of subsection 1, an estimate of the value of the property, together with an explanation of how the estimated value was determined; (d) A statement of the debts of the decedent so far as known to the petitioner; (e) The names and residences of the heirs and devisees of the decedent and the age of any who is a minor and the relationship of the heirs and devisees to the decedent, so far as known to the petitioner; and (f) If the decedent left a will, a statement concerning all evidence known to the petitioner that tends to prove that the will is valid. 9. If the petition seeks to have the estate set aside for the benefit of the decedents surviving spouse or minor child or minor children without payment to creditors, the petition must also contain: (a) A specific description and estimated value of property passing by one or more nonprobate transfers from the decedent to the surviving spouse or minor child or minor children; or (b) An allegation that the estimated value of the property sought to be set aside, combined with the value of all nonprobate transfers from the decedent to the surviving spouse or minor child or minor children who are seeking to receive property pursuant to this section, is less than $150,000. 10. When property is distributed pursuant to an order granted under this section, the court may allocate the property on a pro rata basis or a non-pro rata basis. 11. The clerk shall set the petition for hearing and the petitioner shall give notice of the petition and hearing in the manner provided in NRS 155.010 to the decedents heirs and devisees and to the Director of the Nevada Health Authority. If a complete copy of the petition is not enclosed with the notice, the notice must include a statement setting forth to whom the estate is being set aside. 12. No court or clerks fees may be charged for the filing of any petition in, or order of court thereon, or for any certified copy of the petition or order in an estate not exceeding $2,500 in value. 13. At the hearing on a petition under this section, the court may require such additional evidence as the court deems necessary to make the findings required under subsection 14. 14. The order granting the petition shall include: (a) The courts finding as to the validity of any will presented; (b) In the case of a petition brought pursuant to paragraph (a) of subsection 1, the courts finding as to the value of the estate and, if relevant for the purposes of subsection 5, the value of any property subject to nonprobate transfers; (c) The courts determination of any property set aside under subsection 2; (d) The courts determination of any property set aside under subsection 3, including, without limitation, the courts determination as to any reduction made pursuant to subsection 4 or 5; and (e) The name of each distributee and the property to be distributed to the distributee. 15. As to the distribution of the share of a minor child set aside pursuant to this section, the court may direct the manner in which the money may be used for the benefit of the minor child as is deemed in the courts discretion to be in the best interests of the minor child, and the distribution of the minor childs share shall be made as permitted for the minor childs share under the terms of the decedents will or to one or more of the following: (a) A parent of such minor child, with or without the filing of any bond; (b) A custodian under chapter 167 of NRS; or (c) A court-appointed guardian of the estate, with or without bond. 16. The court, upon request of a petitioner under this section and upon such terms and conditions the court deems advisable to protect any interested person of the estate: (a) May order that any asset assigned and set apart pursuant to subsection 2 be distributed first to a designated person who resides in this State and is otherwise qualified pursuant to NRS 139.010 ; (b) May order the designated person to distribute the assets to the person or persons entitled thereto; and (c) Shall retain jurisdiction to enforce its orders until the designated person demonstrates to the court, by the production of satisfactory receipts, that all sums of money due and all the property of the estate has been distributed to the persons entitled thereto and all acts lawfully required have been performed. 17. For the purposes of this section, the value of property must be the fair market value of that property, reduced by the value of all enforceable liens and encumbrances. Property values and the values of liens and encumbrances must be determined as of the date of the decedents death.
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