PROBATE
Probate, whether formal or informal, is the process of winding up the affairs of a person who has died (the decedent) and includes asking the court to appoint a personal representative (sometimes called an executor) of the decedent’s estate, and to determine if there is a valid will.
Probate is necessary to pass ownership of the decedent’s probate assets to the decedent’s beneficiaries, if the decedent did not have a will. Probate is also necessary to complete the decedent’s financial affairs after his or her death, including ensuring that the decedent’s creditors are paid.
Informal Probate: For those estates where the decedent has an original will, and the will is not being contested, nor are any of the heirs listed in the will being disputed.
Formal Probate: The required process when the requirements of an informal probate are not met. In formal probate, a Judge or Commissioner is needed to resolve any disputes about the decedent’s will.
Supervised Probate: This type of probate is less common, but under certain circumstances, the Court is convinced that the probate needs ongoing supervision. This may arise in situations where a personal representative’s competency is in question, but overall, this category of probate is uncommon.
Small Estate Probate: Technically, when the value of a decedent’s assets is below a certain amount, set by the state legislature, probate is not required. In the Arizona small estate procedure, no action is required from the Court. In these cases, there is specific paperwork that will need to be filled out, however the rightful beneficiary is often able to collect the decedent’s assets by properly completing this paperwork and submitting it to the proper entities.
Whatever type of probate is required, our firm is ready to help.
