Having assets in your name above a certain financial limit at the time of death leads to the estate going through probate in Arizona. Revocable trusts are usually recommended as a vehicle to avoid probate. Assets that do not pass automatically at the time of death such as joint tenancy assets or assets with beneficiary designations are ones that have to pass through probate.
Options To Avoid Probate In Arizona
The best and most widely recommended option to avoid probate in Arizona is the revocable trust. People generally try to avoid probate by placing the names of loved ones’ on the account, however, these don’t often work out. Therefore, it is advisable to speak with an experienced attorney on the best options available to avoid probate. In very rare circumstances if probate seems to be the right way to go a living trust or revocable trust can go through the probate process. The main players involved in a probate proceeding are the Personal Representative or the executor, the heirs or beneficiaries and the creditors. The Personal Representative or executor discharges his or her duties under the loose supervision of the court.
Probate Process In Arizona
The primary requirement is to complete all the documentation required by the courts. Once the documentation is completed, they are filed and the court returns the documents that the client would need to collect their assets, administer their estate, pay their debts, and close the estate upon completion of probate. A standard timeline of the probate process in Arizona is that unless the decedent passed away more than 2 years prior to probate, the process will take in excess of 4 months. This period of 4 months is the time allowed by the courts to creditors in order to bring a claim. However it is safe to say that the probate process may take an average of 6 months to get resolved in Arizona. A competent qualified estate planning attorney can help you avoid any delays by staying on top of the process, adhering to deadlines and keeping open lines of communication with the client. Delays are fairly rare in probate proceedings unless there is an issue with the assets or a dispute amongst the heirs.
The cost of a simple probate in Arizona may exceed $3000 excluding the filing fee and court costs. The more work an attorney has to do on a probate, the costlier it gets for the client. The costs associated with probate may motivate some clients to try and navigate through the probate process on their own without an attorney. They may be able to initiate the process but they’ll soon be confused and frustrated at the legal complexities involved such as complicated forms and other requirements which they cannot hope to comprehend. They will then need to retain the services of an experienced estate planning attorney who can guide them through the process in an appropriate manner.
Completion Of Probate Process In Arizona
Once the process is complete, the assets are transferred to the rightful heirs and the attorney assists their clients in securing releases from all other heirs or creditors so they can move ahead with their life. Once this process has been completed, clients generally receive in addition to the assets they were entitled to, a feeling of closure after they have gone through this process.
We find there is a great feeling of closure, both for the loss and the process after the probate process is completed.
What Sets Your Firm Apart In Handling Probate Matters?
Knollmiller & Arenofsky, LLP have handled successfully thousands of probate cases probates. They know how it works and what needs to be done at what time. The dedicated attorneys at Knollmiller & Arenofsky, LLP are highly responsive to their client’s desires and pride themselves on their ability to communicate with a client in a manner that can set their minds at ease. They genuinely care for their clients and understand the complexity associated with the probate process. If you are facing a probate, it is advisable to retain the services of Knollmiller & Arenofsky, LLP so that their experienced attorneys are able to assist you with compassion, expertise and precision.
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