Three Financial Obligations That Can Diminish Someone’s Legacy

During the Arizona probate process, family members and individuals named as beneficiaries in the deceased’s estate planning paperwork can become the legal owners of property that previously belonged solely to the decedent. A testator who has created an estate plan could name anyone that they care about as a beneficiary set to receive some of

What taxes will an executor have to pay during probate?

The Arizona probate process can be somewhat demanding. The executor or personal representative of someone’s estate has to provide the courts with documentation like the actual will and basic financial records. They need to notify creditors, settle accounts and distribute assets. An executor will also need to fulfill the final tax obligations of the deceased

What debts does an executor pay during the probate process?

Probate proceedings require a lot of organization. You have to track down all of the deceased person’s property and notify all of their creditors and the companies that they have accounts with about their death. You will then have to settle their accounts as part of the probate process. People often die with thousands of

What happens when your parent dies without a last will?

Your family will have a lot to deal with when a parent passes always. Whether it is sudden or the result of a long-term illness, the death of a parent will affect everyone. In addition to the grieving process, your family will have to handle the estate of your deceased parent. Estate administration will become

Phoenix residents may need help with the probate process

Losing a parent is a saddening experience for any person. The love and care that parents provide is often irreplaceable and, therefore, the emotional stress is often too much to handle for many people. However, in addition to coping with the loss, the heirs need to ensure that the estate of the deceased is managed

How long will your estate’s probate last?

If you are putting off making your estate plan, you may be looking for just the right motivation. For many, avoiding the substantial federal estate taxes is a good reason to carefully plan their estate. Others have special circumstances, such as a loved one with disabilities or an estranged child they wish to disinherit. Even

How to handle debts in probate

If a loved one designated you executor of his or her estate or the court appointed you to handle the loved one’s probate, you may be feeling a little overwhelmed, and rightly so. Probate can be complex and last for months, requiring your careful attention and diligence. The most time-consuming and sensitive part of probate is handling

Informal versus formal probate actions in Arizona

The probate process in Arizona involves a superior court judge assigning a personal representative to manage the estate of someone who has died. The person appointed to this role is charged with ensuring that all the decedent’s debts are paid off. They’re also responsible for distributing any remaining assets left after doing so in accordance

Probate: why is this process so intimidating?

Probate is a process that everyone estate goes through. But what most people try to do is limit their loved ones experience in probate by establishing trusts to shield certain assets from the probate process, or by clearly defining how they want their assets to be divvied up when they pass away. Without a will,

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