Probate can be tricky, especially when it involves real estate. In the state of Arizona, probate real estate is quite common. This is because many people from different states choose to move here. Whether it is due to job transfers or a desire to escape the cold, people often leave parts of their family behind in their home state. When this happens, probate becomes inevitable, unless the landowner has a legal trust already in place. However, the truth is that 95% of all estates do not have a trust set up. So, how do you properly navigate through the probate process? First and foremost, you need to be named as the executor in the will. This will give you the authority to take charge. Alternatively, if there is no will or named executor, the court can assign an administrator to handle things on behalf of the deceased. In some cases, that administrator could be you. Once the executor or administrator is in place, things can start moving forward. However, the entire probate process can take anywhere from six to 18 months. It is highly recommended to have an attorney on your team to ensure a faster and smoother process. If there are multiple heirs involved, it is likely that not everyone will have the same opinions on how to proceed. It is crucial to have a family meeting about the estate as soon as possible to make decisions regarding the deceased's expenses. This may include credit card bills, legal expenses, utilities, insurance, car payments, and mortgage payments. Most of the money available in the estate is usually tied up in real estate, so it is important to liquidate that real estate quickly if you plan to use the funds to pay off these bills and distribute the remaining money to the heirs. Being an...
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Arizona probate s Form: What You Should Know
Qualification as a non-licensed fiduciary for the Probate of any Estate.
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