The death of a loved one can be an emotionally difficult time for anyone. Unfortunately, even during this trying time, legal matters must be resolved. If you’ve never gone through the probate process, the idea can be intimidating and stressful. Thankfully, the Texas Probate Code and the Arizona Probate Code allows for the transfer of assets in small estates without the necessity of a formal probate process if the estate is not a large one. If you are faced with having to probate a will, in order to avoid complications for your loved ones, it is important to consult with a small estate planning attorney or a probate attorney in order to fully understand your options and, if you don’t have a will yet, to outline your final wishes so that your family can avoid thecostly Probate process.
What does it mean to probate an estate?
Probating an estate means that the court will oversee the process of transferring the assets from the deceased to the named heirs. The Executor or Executrix of the estate must file a Petition to Probate the Will with the Probate court. The court will then conduct a formal hearing in order to initiate the process which includes verifying assets, settling debts and transferring property to the beneficiaries or heirs.
How small estates differ
Unlike larger estates, which require the full probate process for the transfer of estate property to the named heirs, a small estate is one in which the deceased had few assets or the transfer of those assetsrequires little legal oversight. And,small estates can be administered with or without a will. However, the existence of a legally binding Will makes the entire process flow more easily.
- Texas – In the event the deceased had no will documenting his or her final wishes, and the total of the estate was valued at less than $50,000 and there was real property to be transferred, the court will allow theheir or heirs to file an Affidavit of Small Estate to transferassets through the small estate provision.
- Arizona – In Arizona if the deceasedhad an estate valued at $50,000 or less the court will allow the beneficiaries or heirs to collect property by affidavit.
Complications
Legal complications can arise quickly when the deceased had property and failed to make any final arrangements. This is especially true if the deceased left no will. Proper estate planning or small estate planning can alleviate the risk of prolonged court proceedings and the cost of probating a Will.
A qualified estate attorney or probate lawyer can assist you with documenting your final wishes by drafting a Will and by assisting you with additional small estate planning that can avoid the probateproccess.
The law offices of Goldstein & Scopellite, PC,with officeslocated in Dallas, Texas and Tucson, Arizona provide qualified legal representation in Probate, Estate Planningand Trust and Will generation.
Goldstein & Scopellite, PC was established in 2002. For more information, see theirlocal listing in D Magazine.
Image via Shutterstock.com
