Arizona Affidavit of Heirship for Small Estates
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How to fill out Affidavit Of Heirship For Small Estates?
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FAQ
Arizona allows those without proper estate planning to avoid probate if the estate is small. Arizona allows those without proper estate planning to avoid probate if the estate is small. A small estate is one that consists of less than $100,000 in real estate value or less than $75,000 in personal property.
Under current Arizona law, small estates are defined as those in which the deceased owned less than $100,000 in real estate equity or less than $75,000 worth of personal property. For estates over this size, probate is typically required, and those estates will not be eligible for the small estate affidavit process.
Informal probate is typically used when the value of the estate is less than $75,000 and there are no disputes between the heirs. Formal probate, on the other hand, is typically used when the value of the estate exceeds $75,000 or there are disputes between heirs.
An Arizona beneficiary deed form?also known as an Arizona transfer-on-death deed form or Arizona TOD deed form?is a type of deed authorized by statute to pass Arizona real estate to designated beneficiaries on the death of an owner.
A small estate could comprise of assets worth less than around £10,000. This would mean they wouldn't own their house and any assets they do have would be items left after passing.
Once signed and notarized, the affidavits must be filed with the probate court in the county where the property is physically located. A certified copy of the death certificate and a copy of the will, if any, must be attached to each affidavit, along with title documents for real estate and other large assets.
There may be additional hearings to resolve contests, and the executor will probably need court approval before making major decisions and actions. Informal probate is obviously the quickest and can conclude in 4 ? 6 months. Formal probate may take up to a year or longer.
