What Happens When an Estate Is Insolvent in Nevada?
Enter the estate's assets and the claims in each class of Nevada's payment order to see which claims are paid in full, which are paid in part, and which go unpaid, along with when the executor is personally liable.
Frequently Asked Questions
An estate is insolvent when the claims against it exceed the assets available to pay them. Nevada then pays the claims in 9 classes, in the order its statute sets, and the classes at the end of the order are the ones left unpaid when the money runs outNRS 147.195Verified Sep 23, 2026View source.
1. Expenses of administrationNRS 147.195(1)Verified Sep 23, 2026View source. 2. Funeral expensesNRS 147.195(2)Verified Sep 23, 2026View source. 3. Expenses of the last illnessNRS 147.195(3)Verified Sep 23, 2026View source. 4. Family allowanceNRS 147.195(4)Verified Sep 23, 2026View source. 5. Debts having preference by laws of the United StatesNRS 147.195(5)Verified Sep 23, 2026View source. 6. Money owed to the Nevada Health Authority for Medicaid benefits paidNRS 147.195(6)Verified Sep 23, 2026View source. 7. Wages of each employee of the decedent, up to $600 per employee, for work done or services rendered within 3 months before deathNRS 147.195(7)Verified Sep 23, 2026View source. 8. Judgments rendered against the decedent in his or her lifetime, and mortgages, in order of their date (a mortgage's preference extends only to the proceeds of the mortgaged property; any unpaid balance is classed with other demands)NRS 147.195(8)Verified Sep 23, 2026View source. 9. All other demands against the estateNRS 147.195(9)Verified Sep 23, 2026View source.
Nevada's statute sets the rule class by class rather than one rule for every classNRS 150.240(2); NRS 147.195(7), (8)Verified Sep 23, 2026View source.
A personal representative is not personally liable for the decedent's debtsNRS 147.230Verified Sep 23, 2026View source. A personal representative who pays a later class before an earlier class is paid in full is personally liableNRS 150.230(2)-(3); NRS 150.240(2)Verified Sep 23, 2026View source. Nevada's statutes state no rule on the personal representative's personal liability for distributing property to heirs while claims are unpaid.
Nevada law recognizes that a person named as personal representative may refuse the appointment (NRS 136.090(1)(b); NRS 138.020(2)) but prescribes no particular document. A signed written renunciation filed with the court states the refusal on the record. Renunciation of Executor for Nevada
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