Arizona law provides that certain “small estates” may avoid probate by using a small estate probate Affidavit. Recently, the dollar amount of assets that qualify for the exemption increased.
Previously, if a decedent owned $50,000 or less in personal property, the decedent’s heirs could use a Small Estate Affidavit for the Collection of Personal Property. As of this month (September, 2013), that amount has been increased to $75,000.
Prior to the changes, if the value of all real property in the decedent’s estate located in Arizona, less liens and encumbrances against the property, is less than or equal to $75,000 the decedent’s heirs could use a Small Estate Affidavit for Transfer of Title to Real Property. As of this month, that amount has increased to $100,000.
These new changes will allow more people to avoid probate by using a small estate affidavit to transfer title of a decedent’s real and personal property. At the Neal Law Firm, we believe this was a good move made by the Arizona Legislature.
Arizona probate lawyer Abigail Neal prepares both small estate personal property and real property affidavits for those estates that qualify. Call (480) 699-7992 today to get started.
Learn more about Arizona probate.