Transfer of Small Estates without Probate in Arizona

more+
less-

Effective September 2013, small estates in Arizona will see an increase in the value of assets that may be transferred without requiring a probate of the decedent's estate.

On April 16, 2013, Governor Jan Brewer signed into law Senate Bill 1232, which amends A.R.S. §14-3971 governing the collection of personal property, vehicles, and succession to real property by affidavit.  Therefore, decedent's estates having personal property assets such as jewelry, art, bank accounts, furniture, furnishings, vehicles, etc. valued at $75,000 or less (minus liens and encumbrances), or having real property valued at $100,000 or less (minus liens and encumbrances) will not be subject to mandatory probate.

The heir(s) of the decedent's estate may collect the personal property 30 days after the decedent's death by affidavit.  In addition, successors in interest to the decedent's real property may collect it six months after the decedent's death by affidavit.

Nevertheless, there are always exceptions as well as reasons why a probate proceeding may be needed for administering these small estates so it is best to consult with an experienced probate lawyer.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jaburg Wilk | Attorney Advertising

Written by:

more+
less-

Jaburg Wilk on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×