Small Estate Distribution in Arizona
Author: StephenTrezza Total views: 12 Word Count: 555
Do you really need to go through Probate? Maybe Not.
If the estate includes less than $50,000 of personal property and less than $75,000 worth of real estate then you may be able to take advantage of A.R.S 14-3971, Affidavits of Succession.
WAGES DUE
At any time after the date of death an affidavit may be presented to an employer stating that the affiant is the surviving spouse of the decedent, or is authorized to act on behalf of the spouse, and so long as an Application for probate proceeding is not pending, then the employer is obligated to turn over all wages due and payable up to $5,000.
PERSONAL DEBTS AND TANGIBLE PERSONAL PROPERTY
Thirty days after the death, the beneficiary may draft an affidavit that obliges anyone holding personal property owned by the deceased to be turned over. This also includes stock. This is also true for any legally binding debt that is owed. There are two exceptions:
1) The total value of the personal property and debt asset is no greater than $50,000 and;
2) That a probate proceeding is not pending in any court.
AUTOMOBILES
These fall under personal debts and tangible personal property. An affidavit is drafted and sent to the Dept. of Motor Vehicles, which then provides a new title to the beneficiary.
Affidavits for such debts and personal property don't have to be filed with the court. A Judge's signature isn't necessary, nor is the Probate Registrar's stamp needed for it to be legal. When giving the possessor of the asset an affidavit, it may also be wise to include a copy of the statute if there are any questions about the legality.
REAL ESTATE
No sooner than six months after the date of death a successor may file in the court in which the decedent was domiciled at the time of death or if the decedent was not domiciled in Arizona then in the county in which the real estate is located an affidavit, subject to penalties of perjury, describing the property and the interest of the decedent in that property along with the following affirmations:
1) There isn't a current probate proceeding for the deceased in any court.
2) That the value of the property, less liens and encumbrances, does not exceed $75,000 as valued at the date of death.
The real estate's value is established using the value in the assessment rolls for the year when the death occurred. If there is any debt that is secured by a lien on the property, then the value is established by the unpaid principal balance due at the date of death.
3) All expenses related to the decedent's last illness, the funeral and all unsecured debts have been paid.
4) No other person has a right to the interest of the decedent.
5) No federal or Arizona estate tax is due on the decedent's estate.
Once the affidavit is in order and filed with the court, the court will issue an Order which requires the Probate Registrar to then issue a certified copy of the affidavit.
By recording the certified copy in the county in which the real estate is located the successor puts the world on notice that he/she is now the legal owner of the property.
Affidavits of Success are simple and fast. They are an excellent option instead of probate and can be easily put together by an experienced certified legal document preparer or paralegal.
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About the Author
Stephen Trezza has successfully handled thousands of cases, including Tucson probate cases. If you need Tucson paralegal services, visit the AZ Statewide Paralegal site today.
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