A quick guide to the Chandler Probate process in Arizona
Who needs probate?
In the state of Arizona, and of course in the city of Chandler, some estates will have to go through the probate process. After an individual is deceased Probate will be required if the estate has:
a) At least $75,000 in personal property. If the personal property is less than $75,000 probate is not required and an affidavit can be used to transfer the personal property. There is though an obligatory waiting period of 30 days from the date of the passing.
b) Real Property of $100,00 or more. If the Real property is less then $100,000 an affidavit can also be used to transfer the property. There is also an obligatory waiting time of at least 6 months in that case.
If an estate is too small of course it will not have to go through probate process. The estate is still responsible for all the debts of the deceased person, all taxes also need to be properly taking care of by the estate.
How to avoid Probate in Arizona.
Property can be passed to the next generation in two different ways:
- By private contract - a Living Trust is the best example of assets been assigned to a different individual or entity by a private contract.
- By a court order - which requires going to the process called probate.
By properly creating and funding of a Living Trust probate can be avoided. To understand better how a living trust work please check our page about the subject by clicking here.
Details of the process of probate in Chandler.
While probate in Chandler is never a pleasant experience, we will make it easier with the the help of our probate attorneys. Our Chandler Probate attorneys have experience and will guide you to make the process as smooth as possible.
The process of informal probate usually follows the guideline below:
- One of the heirs will petition to the Maricopa court to be appointed as the Personal Representative of the estate of the deceased person. An extensive list of the heirs and beneficiaries of the estate needs to be prepared and at least ten different specific documents will have to be submitted to the court;
- After the court accepts the petition the Personal Representative will have a fiduciary duty to the estate;
- The Personal Representative will them prepare a list of all the assets of the deceased person, which is called an inventory;
- The Personal representative will them issue a note to all creditors of the estate following specific guidelines. The PR will be responsible for accepting and documenting all claims. All claims that are valid will be paid by the PR using the resources of the estate;
- The PR will be responsible for filling the last tax return of the deceased person. If the deceased person was married and filling jointly a last joint tax return will need to be filled as well. We strongly recommend using a CPA to help you with the tax returns, we will make sure to give you a few options of CPAs that we work with and have experience in dealing with the issue. All taxes that are due will be paid with money from the estate;
- All assets that are left to the estate will be distribute to the beneficiaries of the estate.
The whole probate process will most likely take at least 6 months, all deadlines need to be respect to avoid any issues.
It is important to highlight that a Will alone is not sufficient to avoid probate. The existence of a Will creates a type of probate called formal probate, which is slightly more complicated, expensive and time consuming than an informal probate.
Contact us today to understand how to avoid probate in Chandler, Arizona. Citadel Law Firm PLLC will be pleased to guide you the process.
Call us today at (480)565-8020 if unfortunately you have lost a loved one and you need help with a probate. Our Chandler Probate lawyers will help you go through this difficult moment and process. We always offer a free consultation for you to meet with our lawyers and we do offer flat fee for probates as well.