How Much Does An Estate Have To Be Worth To Go Through Probate In Arizona.
In Arizona the law says your estate will go through probate when you pass away with or without a will If your estate is worth more than $75000 in personal property such as the cash you have in the bank and other types of accounts, vehicles, jewelry, collectables etc. Also if you own real property we’re talking about real estate worth more than $100,000 your estate will have to go through probate as well. Unless you have a trust or you have beneficiaries listed for the assets you own then those assets can be passed outside of Probate.
Also property that is held in joint tenancy with right of survivorship will automatically transfer to the surviving owner without the need of going through probate. This also includes community property with the right of survivorship. You can also transfer real estate in Arizona to a beneficiary upon your death using a beneficiary deed.
If your estate is less than $75000 for personal property or less than $100,000 for real estate then your estate is considered to be a small estate according to Arizona Law. In this case your beneficiaries can file a Small Estate Affidavit with the court to claim their inheritance without having to go through probate.
The best way to protect yourself and your family to Is to have a proper estate plan set up to avoid probate in Arizona.
If you have questions about Probate reach out to me I’m Marvin with Probate In Arizona https://probateinarizona.com
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