Two tracks, two different dollar figures, both recently raised
Only one of these two reaches real property
The NRS 146.080 affidavit is personal property only — no real property at all, no matter how modest. The NRS 146.070 set-aside is genuinely different: it's a real court petition and hearing, simpler than full probate, but it can reach both real and personal property.
A 40-day wait and 14-day notice for the affidavit
The no-court affidavit becomes available 40 days after death, and the affiant must give 14 days' written notice to anyone with an equal or better claim to the property before presenting it to the bank or other holder.
Summary administration has its own $300,000 ceiling
Separately, summary administration under NRS 145.040 is available when the gross estate value, after deducting encumbrances, doesn't exceed $300,000 — and if the estate is later found to exceed that figure, the personal representative must petition the court to revoke summary administration.