Understanding Arizona’s inheritance laws is crucial for individuals navigating estate distribution. Understanding your rights and entitlements under intestate succession is essential. You can make informed decisions and ensure a smooth transfer of assets based on your wishes.
What Are Estate Shares?
Intestate inheritance is the distribution of deceased people’s assets when they pass away without a valid will. It varies depending on the relationship between the deceased and their surviving family members. Below are common types of estate shares.
The Spouse’s Share
In Arizona, if you’re married and pass away without a will, what your spouse receives from your estate depends on how you own your property together. There are two types of property: separate property and community property. Separate property is what you own before marriage, while community property is what you acquire during the marriage.
If you pass away without a will and have a surviving spouse, here’s what happens to your property. If you have no children or your children are only from your current marriage, your spouse automatically inherits your share of the property you both acquired during the marriage. However, suppose you have children from a previous relationship. In that case, your spouse will only inherit your share of the property if it classifies as “community property with the right of survivorship.” If not, your share of the property will go to your children.
Children’s Shares
If you pass away without a will in Arizona, your children have a right to receive a portion of your property, known as an “intestate share.” The size of each child’s share depends on various factors, including the number of children you have, whether you are married, and whether your children are your spouse’s.
Legitimate and legally adopted children have the right to inherit from your estate. Foster children and stepchildren will not automatically receive a share of your property. If you have no children, your spouse will typically inherit the entirety of your estate.
Probate Process
In Arizona, the probate process varies based on estate size and complexity. Small estates under $75,000 in personal property or $100,000 in real property can skip this process and be handled by an executor. Larger estates require one of three probate processes: informal, formal, or supervised probate. Here are details about these processes.
Informal Probate
Informal probate is a simplified process that requires minimal court involvement. It involves submitting the required documents to the court, such as the will and a petition for informal probate. Once approved, the court appoints a personal representative, known as an executor, who manages the estate administration. Informal probate requires only one court hearing, making it relatively straightforward and efficient.
Formal Probate
In cases where the estate is more complex, or there are disputes among beneficiaries, formal probate may be necessary. It involves a more extensive court procedure and may require multiple appearances before a judge. The court closely supervises the estate administration to meet all legal requirements. This process is commonly used in disputes over the will’s validity or the estate’s assets. It also applies to conflicts among beneficiaries requiring court intervention.
Supervised Probate
Supervised probate is a more rigorous form where the court and a judge oversee the entire process. This probate type is necessary when there are concerns about the executor’s capability or when beneficiaries cannot agree. During supervised probate, the court closely monitors all aspects of estate administration. It includes asset inventory, creditor claims, and asset distribution, ensuring compliance and beneficiary protection.
Seek An Experienced Estate Planning Attorney
Seeking the guidance of experienced estate planning and probate lawyers is crucial when navigating inheritance and probate in Arizona. The seasoned estate planning attorneys at Keystone Law Firm possess in-depth knowledge of Arizona’s inheritance laws. They can provide valuable guidance and support throughout the process. By choosing Keystone Law Firm, you can be confident in having a trusted advocate for your legal matters. It will provide you with peace of mind throughout the process.
Summary
Understanding Arizona’s inheritance laws is important for individuals dealing with estate distribution. Knowing your rights under intestate succession is crucial for both surviving spouses and children of the deceased. This knowledge allows you to make informed decisions and ensure a smooth transfer of assets when there is no will.
Awareness of the various types of probate processes, such as informal, formal, and supervised, enables individuals to proactively prepare themselves. It helps them understand the level of complexity and potential legal disputes that may arise during the estate administration.
The spouse’s and children’s shares are determined based on specific criteria, such as the nature of property ownership and the relationships involved. To navigate these intricacies successfully, consult experienced estate planning attorneys who can provide support throughout the probate process.