Using a Living Trust to Avoid Arizona Probate

It wasn’t very long ago when families wrote up a living will with the intention of dispersing all of their material belongings after death. The living will was suppose to take care of everything, making life easier for those left behind dealing with the grief of a lost loved one. However, in 1991 the AARP determined that living trusts should be used, along with living wills, to help families avoid the cost and timeliness of probate court.

What is Probate Court?

“Probate court is a specialized court that deals with matters of the administration of estates.” When an individual does not have a living trust written up before the time of their death, all of their financial assets, including their estate, is distributed and administered by the court system. The deceased ententions are unwarranted, the family’s wishes are not considered, and the probate court “decides who is to receive the deceased person’s property.”

Probate court is a nasty affair, riddled with emotional stress and huge financial burden.

How much does probate court cost in Arizona?

Probate court can cost the deceased person’s family literally thousands of dollars, depending on state law. Probate attorney representation fees, appraisal costs, court costs and more can range from 3 to 7% of the total estate value.

How long does Arizona probate court last?

Unfortunately, probate court in any state can take up to a year and longer. In Arizona, probate court, in the best of situations, can last five to six months, however most will last longer than a year. In Arizona, probates have a four month creditor claim period, where creditors can make valid claims against the estate for debt that the deceased person incurred during their lifetime and left unpaid.

How do I avoid probate court in Arizona?

There are ways to avoid probate court, and one of the best and most effective ways is to have an attorney work up a living trust. This trust will explain how all assets and estates will be dispersed, and will keep you and your family out of court.

Need Help?

If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.