Nevada recently passed legislation to protect the elderly from exploitation on transfers of property after death. Unfortunately, the elderly are often targets of financial exploitation. We often hear tragic stories of caregivers or others deceiving the elderly by fraud or undue influence and convincing them into leaving the exploiter a large inheritance. In its most recent legislative session, Nevada passed a law to protect the elderly from certain types of fraud and undue influence relating to transfers occurring after death.
The new law creates a presumption that a transfer occurring after the date of death is void if the recipient is:
a) The person who drafted the transfer document;
b) The transferor’s caregiver;
c) A person who paid or arranged for the drafting of the document; or
d) A person who is related to, affiliated with, or subordinate to anyone described in (a), (b), or (c).
The law provides that the presumption does not apply where the transfer does not exceed what the recipient would have received if the decedent died intestate or without a will. The presumption that the transfer is void can be overcome if a court determines by clear and convincing evidence that the transfer was not the product of fraud, duress, or undue influence.
We think the new statute is a positive change and we hope this new law will play a large role in protecting the elderly in the state of Nevada.