Informal probate administration offers a simplified probate experience that is usually faster, less complicated, and less expensive than formal probate. If an estate meets certain criteria, it can be settled without the need for court intervention. Informal probate is a solution meant for straightforward cases where there is a valid will and no disputes. However, it is still important to retain a seasoned probate attorney to ensure that everything is done properly and in compliance with the law.
A personal representative takes on fiduciary duties when handling an estate, which can result in serious liability if mistakes are made. If you are serving in this role, contact our office to speak with a Phoenix informal probate lawyer.
When is an Estate Eligible for Informal Probate?
Informal probate is a desirable option, but it is not available in every case. It is only offered in states that have adopted the Uniform Probate Code (UPC), and Arizona is one of the 18 states that have done so. Additionally, there cannot be any disputes that must be resolved in court like vague language, family conflict, or complex legal questions. An estate in Phoenix will not be eligible for informal probate if there is major conflict. For example, if an estate provides that a certain amount of money should go to “Tom,” but there are two people in the family named “Tom”, the informal probate process is unlikely to be allowed.
Where there is a valid, original will, heirs are all in agreement, and there are no disputes, the estate can likely continue with informal probate.
The Informal Probate Process
Settling an estate through the informal probate process is certainly faster and less complicated than formal probate, but there are still several steps and paperwork to complete. The first step is for the executor – or personal representative – to submit an application with the probate court. An application usually requires documentation like the will, a certified copy of the death certificate, and more.
Next, the court appoints the personal representative, which gives that person the authority to act on behalf of the estate. One responsibility of the personal representative is notifying all beneficiaries and potential creditors. For example, if a woman passes away with a will dividing the estate equally among her children, the personal representative must formally notify each beneficiary. Also, if she had outstanding debt, those creditors must also be notified so they can make a claim against the estate.
The informal probate process in Phoenix also includes identifying and valuing the estate’s assets. This could include setting up appraisals to establish the fair market value of assets and gathering information about each asset. For example, if an individual owned a home, and directed it to be sold and its proceeds equally distributed, the executor may order an appraisal of the home to ensure it is listed at the right price.
Then, the personal representative settles any outstanding debts and pays taxes and administrative fees. After all debt is settled, assets are distributed to beneficiaries as described in the will, and the estate is closed. Informal probate administration allows an individual’s estate to be carried out according to their wishes.
Call a Phoenix Attorney for Help Administering Assets in Informal Probate
Informal probate is a simplified way of settling an estate, but it still requires legal guidance. At Dayes Law Firm, we are experienced and knowledgeable attorneys who can offer step by step support for personal representatives handling estates. We take pride in providing personalized service, compassionate support, and fierce advocacy. Contact our firm today to schedule an initial consultation to see if our Phoenix lawyers may assist you with informal probate administration.
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