Instrument of Distribution from Probate Estate - Per. Rep. - Arizona: This instrument lists the distribution to all property of an estate. In basic terms, it is a list of what each heir received. It is signed in front of a Notary Public, and is available for download in both Word and Rich Text formats.
Phoenix Arizona Instrument of Distribution from Probate Estate - Personal Representative
State:
Arizona
City:
Phoenix
Control #:
AZ-PB-24
Format:
PDF
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FAQ
A Personal Representative, or executor, has 365 days in which to administer the estate of the deceased and to distribute their assets to the Beneficiaries. As complex estates can take longer than a year to wind up, this isn't a strict deadline.
This person can apply to the Probate Registry for a grant of letters of administration, so that they can deal with the estate. This is the order of priority under the Rules of Intestacy: Surviving spouse or civil partner. Sons or daughters.
An executor cannot claim for the time they have incurred; however they are entitled to be reimbursed for the reasonable costs of the administration.
Executors must not unreasonably delay distributing the estate for their own gain or any other party. However, even after the executor's year, the court will not order a distribution of the estate if the executors can show there is good reason to wait.
There are several statutes of limitations and general time limits regarding wills and probate in Arizona, and each of them depends on the circumstances. Generally speaking, probate needs to be opened within two years of the decedent's death, and objections to the will should be submitted within the same two years.
Since every estate is different, the time it takes to settle the estate may also differ. Most times, an executor would take 8 to 12 months. But depending on the size and complexity of the estate, it may take up to 2 years or more to settle the estate.
Compensation for an Arizona Personal Representative Generally personal representatives receive reasonable compensation paid at $25 to $50 per hour.
For instance, if a personal representative (executor) wants to get paid from the estate for the services he/she provides, proper notice and disclosure must be made within 120 days of the appointment. Generally, personal representative (executor) compensation is based on a reasonable $25 to $50 hourly rate standard.
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.
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.