One of the most important reasons to make a will is to name your executor. After your death, your executor’s primary job is to protect your property until any debts and taxes have been paid, and then transfer what’s left to those who are entitled to it.
Every state has some rules about who may serve as the executor of an estate that goes through probate. Here are the requirements in Nevada.
Your executor must be:
Many states prohibit people who have felony convictions from serving as executor. In Nevada, you cannot name an executor who has been convicted of a felony, unless a court determines that the conviction should not disqualify the person from serving.
(Nev. Rev. Stat. Ann. § § 129.010, 138.020.)
In addition to the restrictions above, a Nevada probate court will reject a potential executor if there is proof that the candidate is unqualified to serve because of “conflict of interest, drunkenness, improvidence, or lack of integrity or understanding.” (Nev. Rev. Stat. Ann. § 138.020.)
While you can name a bank as your executor, it must be authorized to conduct business in Nevada or serve as coexecutor with a bank authorized to do business in Nevada. (See Nev. Rev. Stat. Ann. § 138.020.) That said, think carefully before appointing a corporation to represent your estate. It’s almost always best to name an individual; consider an institution only if you don’t know anyone you trust enough to serve or your estate is very large and complex.
Unlike many other states, Nevada does not impose special requirements on executors who live out of state. But that doesn’t mean it’s a good idea to appoint someone who lives far away. For practical reasons, it’s usually best to name an executor who lives near you. Your executor may have to handle day-to-day matters for weeks, months, or sometimes longer.
For more information about choosing your executor and making your will, see the Wills section of Nolo.com.