• The cost of probate
• The time involved in probating the assets (property) of an estate; and
• The fact that probate proceedings are public information.
» Transfer of property by affidavit;
» Titling property so that it transfers automatically without probate; and
» Living trusts.
Advance planning is necessary for the second or third options for avoiding probate.
» Arizona law allows for the transfer of property in small estates through an affidavit procedure.
The availability of the procedure, among other things, depends largely on the size of the estate involved. The affidavit procedure is available for both real and personal property. For personal property, the affidavit procedure is not available until thirty days after the death of the decedent and for real property the affidavit procedure is not available until 6 months after the death of the decedent. The affidavit transferring any type of property must strictly comply with certain statutory requirements. Thompson Law Group, P.C. has assisted many clients with the preparation of affidavits transferring property in small estates.
DISCLAIMER The information provided in this website is meant only as a general description of the current laws as of the date of the writing. It is not meant to be an exhaustive discussion of all the nuances of the law and is intended to be only an overview. Many issues may appear simpler than they are, and an individual should always contact an attorney to obtain a complete, accurate interpretation of the law given the individual’s particular circumstances. Thompson Law Group, P.C. makes no representations as to how the law would affect a particular situation and intends only to illustrate areas of concern and give general information. © 2019, Thompson Law Group, P.C.
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