Fees for Services Performed by Attorney, Accountant, or Personal Representative - Arizona: This form is used when an administrator of an estate is called upon to list all the fees of any professional services, such as attorney or accountant fees, paid by the estate. It states the amount of the fee, as well as the duties performed for that amount. It is available for download in both Word and Rich Text formats.
Tucson Arizona Fees for Services Performed by Attorney, Accountant, or Personal Representative
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FAQ
When someone dies, their beneficiaries have up to two years to open probate. Once probate is opened, there aren't any time limits that will cause the case to expire.
The average cost of probate in Arizona can vary depending on a number of circumstances, but legal fees alone can range, on average, anywhere from $2,000 to about $5,000.
The executor is entitled to the following fee: on the gross value of assets in an estate: 3,5%; on income accrued and collected after death of the deceased: 6%
Once the Grant has been received the personal representative has a duty to collect in the assets of the deceased, pay the liabilities and distribute the estate to the beneficiaries. They have many powers to assist them when dealing with an estate e.g. power to sell property, insure property and invest monies, etc.
How Long Does Probate Take in Arizona. According to Arizona law, probate proceedings must be kept open for at least 4 months to allow any creditors to make their claims. Informal probates typically last between 6-8 months, depending on how quickly the Personal Representative completes their required duties.
Generally, personal representative (executor) compensation is based on a reasonable $25 to $50 hourly rate standard.
Compensation for an Arizona Personal Representative Generally personal representatives receive reasonable compensation paid at $25 to $50 per hour.
According to Arizona law (ARS14-3108), the executor of an estate has two years from the date of death to file probate. This timeframe can be extended under certain circumstances, such as if the deceased left behind minor children.
Executor's fees are negotiable at his / her discretion however, the law does provide for the executor to charge the 3.5% of the estate value.
