by Richard C. Keyt, Arizona probate attorney
Question: What is the Maximum Amount of Personal Property that Can be Administered without an Arizona Probate?
Answer: $75,000 ($50,000 before 9/13/13). Section 14-3971(B) of the Arizona Revised Statutes provides that in certain situations, an Arizona probate can be avoided if the value of ALL PERSONAL PROPERTY in the decedent’s estate, wherever located, less liens and encumbrances, does not exceed $75,000 as of the date of death. This procedure involves preparing an Affidavit more than thirty days after the decedent’s death that contains certain language and delivering the Affidavit to a person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent.
All of the following conditions must be true to use this Affidavit procedure:
1. Thirty days have elapsed since the death of the decedent.
2. Either: (i) an application or petition for the appointment of a personal representative is not pending and a personal representative has not been appointed in any jurisdiction and the value of all personal property in the decedent’s estate, wherever located, less liens and encumbrances, does not exceed $75,000 as of the date of death, or (ii) the personal representative has been discharged or more than one year has elapsed since a closing statement has been filed and the value of all personal property in the decedent’s estate, wherever located, less liens and encumbrances, does not exceed $75,000 as of the date of the Affidavit.
3. The claiming successor is entitled to payment or delivery of the property.
A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors on presentation of an Affidavit pursuant to this less than $75,000 of personal property exemption.
The motor vehicle division shall transfer title of a motor vehicle from the decedent to the successor or successors on presentation of an Affidavit pursuant to this less than $75,000 of personal property exemption and on payment of the necessary fees.
Hire an Arizona Probate Attorney to Prepare an Affidavit for a Small Estate to Avoid Probate
KEYTLaw will prepare an Affidavit for Collection of Personal Property for $497. If you have any questions about the Affidavit or the process call Arizona probate attorney Richard C. Keyt at 480-664-7472.