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Arizona Heirship or Descent Affidavit Questionnaire

Category:
Probate - Heirship
State:
Multi-State
Control #:
US-Q1018
Format:
Word; 
Rich Text
Instant download
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Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in a heirship matter. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorneys case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new clients needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

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.

First and foremost, there are a number of asset types that typically do not pass through probate. This includes life insurance policies, bank accounts, and investment or retirement accounts that require you to name a beneficiary.

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.

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.

What Assets Do Not Require Probate Under AZ Law? Bank Accounts With Rights of Survivorship. ... Payable-On-Death Account. ... Transfer-On-Death Account. ... Retirement Plans. ... Life Insurance Policies. ... Living Trusts.

Real estate or a debt secured by a lien on real property may be transferred to the successor or successors by affidavit if certain requirements are met. This affidavit must be filed in the county where the decedent was domiciled or, if not domiciled in this state, in the county where the property is located.

There are other strategies for avoiding Probate in Arizona: Transfer Real Estate Upon Death Via Beneficiary Deed. ... Retirement Assets Avoid Probate with Proper Beneficiary Designations. ... Bank & Investment Accounts Transfer to Loved Ones with POD/TOD Instructions. ... Vehicles Pass to Loved Ones via Beneficiary Designation. ... 5. ?

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.

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