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The Steps and How to Manage Probate Process

Posted by Zach Dana on November 14, 2016

How to Manage Probate Process

How to Manage Probate Process

Probate is a legal term which involves the distribution of one’s assets according to the decedent’s Will or to the court, if without a Will. This includes the gathering the assets, paying off the taxes and debts, if any, determining the validity of the Will, and distributing the estate according to the wishes of the decedent.

In this article, you will learn the basic steps on how to manage the whole process.

  • Who Can Apply

The only person who can apply is the one chosen by the decedent, through the Will, or of there is none, by the court, to be the personal representative of the estate. If the decedent died intestate, or without a Will, the court will choose the person fit to be the representative pursuant to the Rules of Intestacy in Arizona.

  • Types of Grant of Representation

  1. Grant of Probate. This is the representation to be followed if the decedent expressly stated in the Will the name of the representative.
  2. Letters of Administration. This is the type to be followed in the event that the owner of the estate died without a Will.
  • Steps Involved in the Process

The process is lengthy and at times confusing. Things can get very technical and complicated, which is why it is best if the representative consults a lawyer or have a lawyer by his or her side throughout the process. Just to give you an overview, here is the general process involved in probate:

  1. Paying the taxes and the debts owed.
  2. Transferring the assets to the rightful beneficiaries, according to the Will, or to the court, in certain instance.
  • The Court Process

As the personal representative, you need to go to court to process the whole thing. This is also to ensure that you do everything according the law of the land. Probate courts are not federal. This means that the court process varies from state to state. In Arizona, here are the general steps to follow when in court:

  1. The representative presents himself/herself.
  2. Notifying the heirs, creditors and other involved parties.
  3. Creating an inventory of the properties.
  4. Distribution of the assets to the beneficiaries.
  • How Much It Cost

There is no exact amount as to the cost, but it can be substantial. The general amount is around 0.5% up to 2% of the total value of the estate. This differs from State to State though. Moreover, there are other costs you need to pay, such as attorney fees, court costs and executor fees, among others. You might also need to pay tax fees. Discuss this with your lawyer in order to know your rights better on what and what not to pay, and how much.

  • How Long is the Process

Generally, probate is a lengthy process. The more complicated and the larger the estate involved is, the longer the process.  If there are parties who contest the validity of the Will or disrupt the court process, this means that longer time for you to settle. Provided that there are no complications, the process takes 1 to 2 years to settle. Having an updated and well-written Will speeds up the process. And of course, if you do this with a reliable and experienced lawyer, you might get this thing settled sooner than you thought.

Read more about the managing probate in Arizona here. You can also find probate forms here:

http://www.azcourts.gov/probate

Probate can be very complicated. We advise that you get a reliable lawyer to help you throughout the process. If you’re the personal representative, your task is not that simple. You need professionals to guide you and get you through all the legality. That way, you can protect yourself from getting into trouble. Here in Arizona, the one with the right kind of professionals to handle this is no other than Dana Law Group. Just give us a call and we’ll surely make things easier for you.