Arizona Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement

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Multi-State
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US-03366BG
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Description

Most states have a statute that requires something to the effect that upon the filing of an account for final settlement by the executor of the estate of a decedent, a citation is required to be filed containing a statement that such final account has been filed, the time and place when it will be considered by the court, and a statement requiring interested persons that are cited to appear and contest the same if they see proper.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

As long as there aren't any contests to the will or objections to the executor's actions, the executor will be allowed to settle the estate at the conclusion of the four-month waiting period. That means an executor who is on top of their responsibilities could theoretically wrap up probate in as little as four months.

In Arizona, the timeline for wrapping up a probate has no strict deadline for executors. Ideally, the recommended start date is around 60 days after the individual's passing and done within a reasonable timeframe.

Every estate is different and can take a different length of time to administer depending on its complexity. There is a general expectation that an executor or administrator should try to complete the estate administration within a year of the death, and this is referred to as the executor's year.

Provide an inventory and initial accounting of assets to heirs within 90 days of court appointment as personal representative (executor). A.R.S. 14-3076. Keep detailed records of all receipts and expenses of the estate, and provide such an accounting to heirs.

A will executor also being a beneficiary is not an uncommon situation. Most states do not have any laws prohibiting this from happening. In fact, it is quite common that a direct relative is a beneficiary and the executor. Still, there are things to be careful when choosing a potential beneficiary as a will executor.

Seeking Legal Recourse If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit.

Assuming probate is necessary, there can be a number of consequences for not petitioning to open probate: Individually-titled assets will remain frozen in the decedent's name. The estate's assets are subject to losses. Another interested party may petition to open probate.

Generally, beneficiaries have to wait a certain amount of time, say at least six months. That time is used to allow creditors to come forward and to pay them off with the estate assets. (In some cases, an executor may make partial distributions to the heirs after he or she estimates the debts.

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Arizona Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement