Arizona Sample Letter for Estate Settlement
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How to fill out Sample Letter For Estate Settlement?
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FAQ
Introduction. In the state of Arizona, probate is only required if the decedent has any assets that did not transfer automatically upon their death.
In Arizona, a Probate case must be commenced within two years after a decedent's death. A.R.S. § 14-3108.
Here are some things to consider when drafting a letter to your executor or trustee. Your thoughts about wealth. Share your story about how you came to the assets that you are leaving in your will. How was your wealth created, what do you value and what are your long-term goals for your wealth?
Generally, assets that have been held solely in the deceased person's name and do not have a designated beneficiary will need to go through the probate process. Some of these assets could include bank accounts, real estate, investments, vehicles, and other personal property.
The person acting as the executor of the estate must petition the court to request the letter of testamentary. After they file the necessary documents, the probate court checks them to ensure compliance and authenticate the will.
The personal representative of the deceased person's estate can initiate the probate process in court.
In Arizona, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).
