Arizona Sample Letter regarding Petition to Close Estate and Other Relief
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How to fill out Sample Letter Regarding Petition To Close Estate And Other Relief?
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FAQ
Probate procedures can be complex and time-consuming, but there are ways to avoid or bypass this process for certain assets in Arizona. Properties such as those held in a living trust are exempt from probate. Similarly, community property and jointly-held property with a right of survivorship do not require probate.
Probate is required in Arizona if the decedent (deceased person) owned any assets that did not have beneficiary designations at the time of death. Probate is also always required for wills because the court must verify that the document is valid.
Personal property: Total value of the estate's personal property must be less than $75,000. The estate must not be going through formal probate.
In Arizona, formal probate, unlike informal probate, is the process where the petitioner files a petition requesting that a judicial officer decide an issue or direct that action be taken, usually after notice to all interested parties and a court hearing.
Introduction. In the state of Arizona, probate is only required if the decedent has any assets that did not transfer automatically upon their death.
Transfer on Death If you own real estate in Arizona, you can consider using a transfer-on-death (TOD) deed. This legal document allows you to name a beneficiary who will inherit your property directly, without the need for probate.
