Is there a way to avoid probate in Arizona?
In short, yes. There are 3 main ways to avoid probate. One of the most popular ways is to use a Revocable Living Trust. Assets that are connected to a Revocable Living Trust avoid probate automatically.
Can a personal representative act for an estate in Arizona?
After petitioning the court for removal, the person must notify the personal representative of the pending action. From this point forward, Arizona probate law prohibits the personal representative from acting for the estate, except for routine accounting, correcting mistakes, and preserving estate assets.
What is the probate process called in Arizona?
This saying has stood the test of time, because it’s true. Dissolving and legally distributing the assets of an estate to the beneficiaries is called the probate process. The probate process in Arizona is the act of legally passing assets from a deceased person to his or her beneficiaries with or without a Last Will and Testament.
What do you need to know about Arizona Trust Law?
Give Notice to Beneficiaries. Arizona trust law allows everybody who may benefit under the trust to request copies of the trust document; and providing notice gives them an opportunity to do so. As such, Arizona trustees must provide every trust beneficiary with notice, if the trust became irrevocable when the trustor died.
What should you know about probate in Arizona?
You should know that every case is a little different, so there is no standard answer to this question. However, Arizona law provides some guidance that will help you prepare for an approximate length of time for probate.
How does real estate transfer in Arizona without probate?
Any property held in joint tenancy will automatically transfer to the surviving owner without the need to go through probate. This also includes community property with the right of survivorship. Real estate in Arizona may transfer to a beneficiary with a transfer on death deed.
Who is entitled to claim an estate in Arizona?
If the decedent was single and did not have children, the estate can pass to the decedent’s parents, siblings, or other extended family members ( ARS 14-2103 ). In rare cases where there are no immediate or extended family members to claim the assets, the state can claim the estate ( ARS 14-2105 ). Which Assets Are Not Subject to Probate?
Is there an intestate succession law in Arizona?
Unfortunately, intestate succession does not leave family members with much say in the distribution of assets, and it can significantly lengthen the probate process. In Arizona, intestacy laws give preference to the surviving spouse and children (ARS 14-2102).