Is probate always necessary for estates in Arizona? If you have a small estate, Arizona law allows you to bypass probate if the assets are under specified thresholds. For personal property, it has to be under $75,000 in total value, and for real estate, under $100,000. If the assets are held in joint [...]
In AZ, probate takes six months to one year for most cases. If you’re dealing with a straightforward estate, it typically concludes in less than one year. Larger estates or those with disputes can extend longer, sometimes more than a year. Arizona law gives a transparent timeline for probate, beginning with papers filed in [...]
Key TakeawaysUnderstanding the differences between trusts and probate in Arizona is essential for effective estate planning, as each process has distinct legal requirements, timelines, and impacts on privacy and control.Trusts are generally more flexible, private, and efficient in asset distribution, making them preferable for those with complicated family situations, large estates, or privacy concerns.Probate may [...]
Key Takeaways Setting up a living trust lets you control and distribute your assets seamlessly, offering both flexibility and privacy and enabling your heirs to skip probate. You should consider, for example, if a revocable or irrevocable trust best fits your lifestyle, as they each have different benefits in terms of flexibility, taxation, and [...]
Key Takeaways If you die without a will in Arizona, your property is distributed according to a strict legal order, often prioritizing spouses, children, parents, and then siblings, which may not align with your wishes. Probate has to come in and settle your estate, and it can be long and expensive, eating into what [...]