What to do when a One Nevada CU account holder dies

Nevada's small estate affidavit (NRS 146.080) lets a successor collect a decedent's property without letters of administration if the gross value of the decedent's Nevada property — excluding armed-forces pay owed to the decedent and the value of any registered motor vehicles — does not exceed the "applicable amount": $150,000 if the claimant is the surviving spouse, or $25,000 for any other claimant. The decedent must have left no Nevada real property or interest in it, at least 40 days must have passed since the death, no personal-representative petition may be pending or granted, the affiant must have given written notice to every person whose right to succeed is equal or superior and waited at least 14 days, and the affidavit must state that the decedent's debts (including funeral expenses and Medicaid recovery) have been paid or provided for. Filing a false affidavit is a felony in Nevada. A party that receives a conforming affidavit is entitled to rely on it and, relying in good faith, is immune from civil liability — which is why a credit union will pay against one. Present the affidavit with a certified death certificate and your photo ID at a branch, or call 800-388-3000 first to confirm what the branch wants.

Yes, and usually in your favor. Nevada is a community property state. Under NRS 123.250, upon the death of either spouse an undivided one-half interest in the community property is already the property of the surviving spouse as their sole separate property; only the decedent's remaining half is subject to the decedent's testamentary disposition, and that half is the only portion subject to administration. Community property held with right of survivorship (NRS 111.064) is carved out entirely and passes to the survivor. Practically: a One Nevada balance built from community earnings is typically half yours outright before any POD or probate question is reached, and the piece that has to fit under the NRS 146.080 threshold is smaller than the account balance. Nevada charges no state estate or inheritance tax.

Yes on the first, and often no on the second. The Membership Agreement gives the credit union a lien and consensual security interest on any or all funds in any account in which the member has an ownership interest, regardless of the source of the funds, and lets it apply those funds in any order to pay off the member's indebtedness — so an outstanding One Nevada auto loan, credit card, or line of credit can be set off against the balance before a POD beneficiary is paid. Ask for a payoff figure on every One Nevada loan before you count on a number. The agreement also lets the credit union require anyone claiming funds after a death to indemnify it against losses from honoring that claim. On the certificate side, the standard early-withdrawal penalty is 90 days' dividends (original maturity of one year or less) or 180 days' dividends (longer original maturity), but the agreement expressly says there are circumstances "such as the death or incompetence of an owner" where One Nevada may waive or reduce it. Ask for the death waiver instead of accepting the penalty.