The transfer of the assets from a deceased person to the remaining family is subjected to lengthy and complex probate preceding. However, the state of Arizona has waived the probate for the properties falling under a particular worth. A small estate affidavit Arizona can be used for this purpose. This non-probate affidavit allows the heir and beneficiaries to claim their land without fighting a legal battle for ownership.
The decedent's living spouse or children usually carry out the process, although it may also be initiated by someone pretending to be a legitimate heir at the statute.
Laws and Requirements in Arizona
A small estate affidavit Arizona is a legal procedure that falls under the Superior Court of Arizona jurisdiction. Arizona affidavit will be applicable for both personal as well as real estate property of the decedent. However, the transfer of property rights depends upon the total value of the assets. Following are the relevant affidavit details of each property:
- Personal Property: This includes the assets in cash, bank balance, bonds, or jewelry, etc. The total valuation of the assets mustn't exceed the $75,000 limit. The heirs can apply for the affidavit for collection of personal property form after a waiting period of at least 30 days after the decedent's death.
- Real Estate Property: The property includes land, building or any permanent structure, etc. The assessed value limit of the assets is $100,000. The descendent must wait for at least six months before applying for the affidavit.
Apart from property, the spouse can also utilize the affidavit to collect wages up to the $5000 limit. The debt, mortgage, encumbrance, and other liabilities will be excluded from the transfer right by the Arizona affidavit. Probate will become necessary if the value of any of the assets increases the prescribed limit.
The Arizona probate form can be initiated regardless of whether the decedent died testate or intestate. Any individual with legal standing can submit an affidavit to claim the property.
A Simplified Arizona Procedure for Small Probate Assets
The affiant applying for the Arizona small-estate affidavit process starts by determining if they are legally entitled to the decedent's property. The applicant must procure a copy of the decedent's will from the lawyer or any related source. It will identify the decedent's inheritance as well as the beneficiaries.
The affidavit process can be carried out if the real estate valuation does not surpass the compensation in place. This allowance can be of a homestead, excluded land, family allowance, costs of administration, funeral expenses, and required expenses for the last medical condition. Every form of debt will be exempted from these expenses.
The affiant files a claim to the court that the estate's worth way less than the allowances and liabilities. The declaration will establish allocating assets to the beneficiaries as specified by the will or by applied state law. A copy of the said document will be sent to the people named in the will.
However, in some cases, the court has already begun the transfer process and has nominated a personal representative for the estate. The affiants must check and determine the status of the proceeding before initiating any process on their own.
Who Can Take Advantage of Arizona’s Small Estate Affidavit?
For small estates, Arizona laws provide for a streamlined affidavit procedure. A small estate affidavit Arizona can be initiated by a surviving spouse, children, parents, or any relative in the absence of immediate family. The transfer of ownership right of the property will be dependent on the will left by the decedent. If the will is not present, the state laws regarding property distribution will be followed.
The Arizona affidavit is filed with the probate court registrar of the county where the heir situates the real estate. The registrar issues a signed copy as evidence of filing after assessing the affidavit's completeness. The affidavit must be registered in the same county as the authenticated copy.
To complete the process per legal standards, a precisely specified process must be followed. Since it is a lawful process, the affiant can hire the legal services of a lawyer or attorney.
How to Fill Out a Small Estate Affidavit Template
The affidavit is a sworn document in which the affiant swears to the entitlement right and other estate details under oath. To start the fill-out process, download the required template of the affidavit from the CocoDoc website. Follow the below mentioned vital points while filling the Arizona probate forms:
- Information of the Affiant: Fill in the name and the contact information in the mentioned section of the affidavit. Indicate the details regarding whether or not a lawyer or attorney represents you.
- Location of Decedent’s Death: State the place and residence county of the decedent at the time of the end.
- Details of the Decedent’s Death: Mention the name, date, and place of the end of the decedent.
- Shared Relation: This section describes the relationship between the affiant and the deceased.
- Entitlement to the Property: Explain the reason regarding your entitlement to the property. Heirship can be determined by documented will or rights by immediate family or relatives.
- Details of the Decedent Property: Procure the details of all the properties under the name of the decedent. The property name, its worth, and location will be mentioned in this section.
- Money Owed: If there was any outstanding debt owed to the decedent, state the sum and the contact details of the debtor.
- Notarize the Document: The affidavit must be signed in front of a notary public body.
- Additional Document: In the case of real property, fill out the Probate Information Cover Sheet and Affidavit for Transfer of Title.
- Completion: Submit the affidavit documentation to the probate registrar in your county.
Arizona small estate affidavit is a sworn declaration that the evidence in the affidavit is correct and the petitioner is entitled to the property. Any mistake can result in a delayed or even terminated process. The article has provided insight into the process as well as the critical steps of the affidavit. If followed correctly, the small estate affidavit Arizona can help in the smooth transition of the small estate property.