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Arizona Small Estate Affidavit for Estates Not More Than $200...

Az Small Estate Without Probate

Category:

Probate - Small Estates

State:

Arizona

Control #:

AZ-ET10

Format:

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Description

The Az Small Estate Without Probate form is designed to facilitate the collection of personal property of a deceased individual without the need for formal probate proceedings, which can be lengthy and costly. This affidavit allows the user to affirm their relationship to the deceased, confirm the value of the estate is under $75,000, and declare their entitlement to the property. The form requires specific details about the deceased, including their name, date of death, and relationship to the claimant. Additionally, it asks for a listing of the personal property along with its value and location. This form serves as a straightforward way for individuals, particularly family members and close successors, to access the deceased's assets efficiently and privately. A critical step is ensuring that at least 30 days have passed since the death before submitting the affidavit. For attorneys, partners, and legal assistants, understanding the nuances of this form can aid in advising clients appropriately, whereas paralegals can assist in its preparation, ensuring completeness and compliance with Arizona laws. Overall, this form is an essential tool for users looking to simplify property transfer after a loved one’s passing.

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How to fill out Arizona Small Estate Affidavit For Estates Not More Than $200,000 With Personal Property Only?

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FAQ

In Arizona, an estate must exceed $75,000 in value, not counting certain exempt assets, to require probate. If the total value is below this threshold, you may opt for a small estate affidavit, thereby bypassing the probate procedure. This knowledge empowers you to make informed decisions, especially if you aim to handle an AZ small estate without probate.

Probate in Arizona is generally triggered when the deceased owns assets that do not have a designated beneficiary or are not held jointly. Common scenarios include sole ownership of real estate, bank accounts, or vehicles. Understanding these triggers can help significantly when planning your estate to achieve an AZ small estate without probate.

Avoiding probate in Arizona can be achieved through various strategies, such as creating a living trust, holding property in joint ownership, or designating beneficiaries on accounts. By establishing these methods, you can ensure that your assets are passed directly to your heirs without the need for probate. This proactive approach is essential for those looking to manage an AZ small estate without probate effectively.

Probate is not always mandatory in Arizona, particularly for small estates that fall below the state-defined value limit. If an estate meets the requirements for a small estate affidavit, you can bypass probate altogether. This option saves time and expenses, aligning perfectly with the goal of managing an AZ small estate without probate.

In Arizona, several types of assets can be exempt from probate, making it easier for heirs to inherit them swiftly. Generally, these include property held in joint tenancy, bank accounts with payable-on-death designations, and life insurance policies with named beneficiaries. Additionally, small estates that fall below a certain value threshold may also qualify for this streamlined process, allowing you to navigate AZ small estate without probate.

A small estate in Arizona is defined as any estate valued at less than $75,000. This includes the total value of all assets owned by the deceased, excluding certain exemptions. If you wish to manage the estate without the complications of probate, this option is ideal. US Legal Forms can help you navigate the necessary forms and steps for handling a small estate without probate efficiently.

The threshold for probate in Arizona is currently set at $75,000. If the estate value falls below this amount, you can settle it as a small estate without probate. This threshold allows for quicker resolution, giving beneficiaries access to their inheritance sooner. Utilizing a platform like US Legal Forms can guide you through the process of claiming a small estate without probate.

Not all estates in Arizona must go through probate. If the estate qualifies as a small estate or if assets have designated beneficiaries, probate can often be avoided. This efficiency helps heirs receive their inheritance faster without the burden of court proceedings. For individuals dealing with an AZ small estate without probate, resources such as uslegalforms are invaluable in guiding you through the necessary steps.

You can avoid probate in Arizona by using strategies such as creating a small estate affidavit, establishing a living trust, or naming beneficiaries directly on property titles. By doing so, assets can be transferred outside of the probate process, saving time and costs. Many people find peace of mind in knowing that their estate can transition smoothly without extensive court involvement. Platforms like uslegalforms can assist you in preparing necessary documents for an AZ small estate without probate.

In Arizona, you generally have a period of 4 months to file a claim against an estate after the notice of the estate's opening is published. It is crucial to act promptly, as failure to file within this timeframe can result in losing your claim. By understanding these timelines, you can protect your rights effectively. For those dealing with an AZ small estate without probate, having the right forms and information can help you navigate this process efficiently.

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Small Estate Affidavit for Estates Not More Than $200,000 with Personal Property Only

Arizona recognizes a small estate affidavit and also a summary administration proceeding. You may either order the Small Estate Affidavit for Estates smaller than $100,000 or the Summary Administration where real property is inherited or use this form when the personal property only needs to be collected and distributed and the value isn't more than $75,000.

Small Estates General Summary: Small Estate laws were enacted in order to enable heirs to obtain property of the deceased without probate, or with shortened probate proceedings, provided certain conditions are met. Small estates can be administered with less time and cost. If the deceased had conveyed most property to a trust but there remains some property, small estate laws may also be available. Small estate procedures may generally be used regardless of whether there was a will. In general, the two forms of small estate procedures are recognized:

1. Small Estate Affidavit: Some states allow an affidavit to be executed by the spouse and/or heirs of the deceased and present the affidavit to the holder of property such as a bank to obtain property of the deceased. Other states require that the affidavit be filed with the court. The main requirement before you may use an affidavit is that the value of the personal and/or real property of the estate not exceed a certain value.

2. Summary Administration: Some states allow a summary administration. Some states recognize both the small estate affidavit and summary administration, basing the requirement of which one to use on the value of the estate. Example: If the estate value is 10,000 or less an affidavit is allowed but if the value is between 10,000 to 20,000 a summary administration is allowed.

Arizona Summary: Under Arizona statute, an interested party may, in any estate the value of which is less than $75,000, 6 months after the death of the decedent, issue a small estate affidavit to any party who owed the decedent.

Arizona Requirements:
Arizona requirements are set forth in the statutes below.

Relevant Statutes are: 14-3971. Collection of personal property by affidavit; ownership of vehicles; affidavit of succession to real property

A. At any time after the death of a decedent, any employer owing wages, salary or other compensation for personal services of the decedent shall pay to the surviving spouse of the decedent the amount owing, not in excess of five thousand dollars, on being presented an affidavit made by or on behalf of the spouse stating that the affiant is the surviving spouse of the decedent, or is authorized to act on behalf of the spouse, and that no application or petition for the appointment of a personal representative is pending or has been granted in this state or, if granted, the personal representative has been discharged or more than one year has elapsed since a closing statement has been filed.

B. Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor and stating that all of the following are true:

1. Thirty days have elapsed since the death of the decedent.

2. Either:

(b) The personal representative has been discharged or more than one year has elapsed since a closing statement has been filed and the value of all personal property in the decedent's estate, wherever located, less liens and encumbrances, does not exceed seventy-five thousand dollars as valued as of the date of the affidavit.

3. The claiming successor is entitled to payment or delivery of the property.

C. A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors on presentation of an affidavit pursuant to subsection B of this section.

D. The motor vehicle division shall transfer title of a motor vehicle from the decedent to the successor or successors on presentation of an affidavit as provided in subsection B of this section and on payment of the necessary fees.

E. No sooner than six months after the death of a decedent, a person or persons claiming as successor or successors to the decedent's interest in real property, including any debt secured by a lien on real property, may file in the court in the county in which the decedent was domiciled at the time of death, or if the decedent was not domiciled in this state then in any county in which real property of the decedent is located, an affidavit describing the real property and the interest of the decedent in that property and stating that all of the following are true and material and acknowledging that any false statement in the affidavit may subject the person or persons to penalties relating to perjury and subornation of perjury:

1. Either:

(a) An application or petition for the appointment of a personal representative is not pending and a personal representative has not been appointed in any jurisdiction and the value of all real property in the decedent's estate located in this state, less liens and encumbrances against the real property, does not exceed one-hundred thousand dollars as valued at the date of death. The value of the decedent's interest in that real property shall be determined from the full cash value of the property as shown on the assessment rolls for the year in which the decedent died, except that in the case of a debt secured by a lien on real property the value shall be determined by the unpaid principal balance due on the debt as of the date of death.

(b) The personal representative has been discharged or more than one year has elapsed since a closing statement has been filed and the value of all real property in the decedent's estate, wherever located, less liens and encumbrances, does not exceed one-hundred thousand dollars as valued as of the date of the affidavit. The value of the decedent's interest in that real property is determined from the full cash value of the property as shown on the assessment rolls for the year in which the affidavit is given, except that if a debt is secured by a lien on real property, the value is determined by the unpaid principal balance due on the debt as of the date of the affidavit.

2. Six months have elapsed since the death of the decedent as shown in a certified copy of the decedent's death certificate attached to the affidavit.

3. Funeral expenses, expenses of last illness, and all unsecured debts of the decedent have been paid.

4. The person or persons signing the affidavit are entitled to the real property by reason of the allowance in lieu of homestead, exempt property or family allowance, by intestate succession as the sole heir or heirs, or by devise under a valid last will of the decedent, the original of which is attached to the affidavit or has been probated.

5. No other person has a right to the interest of the decedent in the described property.

6. No federal or Arizona estate tax is due on the decedent's estate.

F. The normal filing fee shall be charged for the filing of an affidavit under subsection E of this section unless waived by the court as provided by section 12-301 or 12-302. On receipt of the affidavit and after determining that the affidavit is complete, the registrar shall cause to be issued a certified copy of the affidavit without attachments, and the copy shall be recorded in the office of the recorder in the county where the real property is located.

G. This section does not limit the rights of heirs and devisees under section 14-3901.

14-3972. Effect of affidavit

A. The person paying, delivering, transferring or issuing personal property or the evidence thereof pursuant to affidavit is discharged and released to the same extent as if he dealt with a personal representative of the decedent. He is not required to see to the application of the personal property or evidence thereof or to inquire into the truth of any statement in the affidavit. If any person to whom an affidavit is delivered refuses to pay, deliver, transfer or issue any personal property or evidence thereof, it may be recovered or its payment, delivery, transfer or issuance compelled upon proof of their right in a proceeding brought for the purpose by or on behalf of the persons entitled thereto. Any person to whom payment, delivery, transfer or issuance is made is answerable and accountable therefor to any personal representative of the estate or to any other person having a superior right.

B. The motor vehicle division issuing title pursuant to affidavit is discharged and released to the same extent as if it dealt with a personal representative of the decedent. It is not required to see to the application of the personal property or evidence thereof or to inquire into the truth of any statement in the affidavit.

C. A purchaser of real property from or lender to the person or persons designated as successor or successors in a certified copy of an affidavit issued under section 14-3971 and recorded in the county in which the real property is located is entitled to the same protection as a person purchasing from or lending to a distributee who has received a deed of distribution from a personal representative, as provided in section

14-3910. 14-3973. Small estates; summary administrative procedure

If it appears from the inventory and appraisal that the value of the entire estate, less liens and encumbrances, does not exceed allowance in lieu of homestead, exempt property, family allowance, costs and expenses of administration, reasonable funeral expenses, and reasonable and necessary medical and hospital expenses of the last illness of the decedent, the personal representative, without giving notice to creditors, may immediately disburse and distribute the estate to the persons entitled thereto and file a closing statement as provided in section 14-3974.

14-3974. Small estates; closing by sworn statement of personal representative

A. Unless prohibited by order of the court and except for estates being administered by supervised personal representatives, a personal representative may close an estate administered under the summary procedures of section 14-3973 by filing with the court, at any time after disbursement and distribution of the estate, a verified statement stating that:

1. To the best knowledge of the personal representative, the value of the entire estate, less liens and encumbrances, did not exceed allowance in lieu of homestead, exempt property, family allowance, costs and expenses of administration, reasonable funeral expenses and reasonable, necessary medical and hospital expenses of the last illness of the decedent.

2. The personal representative has fully administered the estate by disbursing and distributing it to the persons entitled thereto.

3. The personal representative has sent a copy of the closing statement to all distributees of the estate and to all creditors or other claimants of whom he is aware whose claims are neither paid nor barred and has furnished a full account in writing of his administration to the distributees whose interests are affected.

B. If no actions or proceedings involving the personal representative are pending in the court one year after the closing statement is filed, the appointment of the personal representative terminates.

C. A closing statement filed under this section has the same effect as one filed under section 14-3933.

Small Estate Affidavit for Estates Not More Than $200,000 with Personal Property Only

Arizona Requirements:
Arizona requirements are set forth in the statutes below.

Relevant Statutes are: 14-3971. Collection of personal property by affidavit; ownership of vehicles; affidavit of succession to real property

1. Thirty days have elapsed since the death of the decedent.

2. Either:

3. The claiming successor is entitled to payment or delivery of the property.

1. Either:

2. Six months have elapsed since the death of the decedent as shown in a certified copy of the decedent's death certificate attached to the affidavit.

3. Funeral expenses, expenses of last illness, and all unsecured debts of the decedent have been paid.

5. No other person has a right to the interest of the decedent in the described property.

6. No federal or Arizona estate tax is due on the decedent's estate.

G. This section does not limit the rights of heirs and devisees under section 14-3901.

14-3972. Effect of affidavit

14-3910. 14-3973. Small estates; summary administrative procedure

14-3974. Small estates; closing by sworn statement of personal representative

2. The personal representative has fully administered the estate by disbursing and distributing it to the persons entitled thereto.

C. A closing statement filed under this section has the same effect as one filed under section 14-3933.

Az Small Estate Without Probate

Description

Viewed forms

How to fill out Arizona Small Estate Affidavit For Estates Not More Than $200,000 With Personal Property Only?

Form popularity

FAQ

How much does an estate have to be worth to go to probate in Arizona?

What triggers probate in AZ?

How can I avoid probate in Arizona?

Is probate mandatory in Arizona?

What assets are exempt from probate in Arizona?

What is considered a small estate in Arizona?

What is the threshold for probate in Arizona?

Do all estates have to go through probate in Arizona?

How do you avoid probate in AZ?

How long do you have to file a claim against an estate in Arizona?

Trusted and secure by over 3 million people of the world’s leading companies

Az Small Estate Without Probate

Description

Viewed forms

How to fill out Arizona Small Estate Affidavit For Estates Not More Than $200,000 With Personal Property Only?

Form popularity

FAQ

How much does an estate have to be worth to go to probate in Arizona?

What triggers probate in AZ?

How can I avoid probate in Arizona?

Is probate mandatory in Arizona?

What assets are exempt from probate in Arizona?

What is considered a small estate in Arizona?

What is the threshold for probate in Arizona?

Do all estates have to go through probate in Arizona?

How do you avoid probate in AZ?

How long do you have to file a claim against an estate in Arizona?

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