How To Transfer A Small Estate

How To Go About Transferring A Small Estate

Estates come in all sizes. Procedures for settling an estate may differ depending on the size, however. If you are in charge of settling a friend or loved one’s small estate, take a few moments to consider alternatives to traditional probate.

Why Use A Small Estate Affidavit?

When a simple estate has few assets, there’s often no reason to go through a regular probate proceeding. Only qualifying estates use the small estate affidavit, but they do see some real benefits.

A small estate may be settled more quickly than any other probate proceeding. Also, costs are usually lower due to the simplicity of the case.

Does This Estate Qualify As A Small Estate?

You are eligible to use a small estate affidavit if:

• The decedent’s personal property, after deducting liens and encumbrances, is worth not more than $75,000 and at least 30 days have passed since the decedent passed away, and/or
• The assessed value of the decedent’s Arizona real property on the date of death, after deducting liens and encumbrances, as of the date of death, is not more than $100,000 and at least 6 months have passed since the decedent passed away, and/or
• You are the surviving spouse and you want to use the Affidavit to Collect Personal property to collect wages of up to $5,000 owed to the decedent, and/or
• You are entitled to the real property and/or personal property, and have the legal right to submit an affidavit claiming the property because:
  • You are named in the Will to receive the property OR
  • The decedent did not have a Will, but you are related to the decedent as the surviving spouse, child if there’s no surviving spouse or the spouse is not your parent or your parent had separate or community property OR
  • Parent if there is no surviving spouse or child, or brother or sister if there’s no surviving spouse or child or parent; and
• If anyone with equal or greater right than you to the property has assigned their entire interest in the estate to you in writing and a copy is attached to the affidavit.

Forms You Will Need

The clerk of the county you’ll be filing can give you forms to start your small estate affidavit, or you can find them online. For example, the Transfer of Small Estate by Affidavit packet on the Maricopa County Superior Court website contains the following forms and instructions:

• Affidavit for Collection of All Personal property
• Probate Information Cover Sheet
• Affidavit for Transfer of Title to Real Property Checklist
• Affidavit for Transfer of Title to Real Property

You can download the entire packet or the individual forms. As noted on the website, make sure you get the instructions for the forms, also.

After Preparing The Affidavit

You’ll use the completed affidavit to collect any person or entity that has possession of the deceased person’s personal property. For example, cars, jewelry, stocks, cash, and bank accounts are considered personal property. You may need to pay a fee to change the title of some assets, like automobiles.

You may also use the affidavit to collect debts owed to the deceased person. Also, if you are the surviving spouse, the affidavit will help you collect up to $5,000 in wages owed to your deceased loved one.

Claiming real property may be aa little more complicated. Go to the Probate Registrar to any Superior Court location. Take along originals of the following documents:

• Probate cover sheet
• Affidavit for Transfer of Title to Real Property Checklist
• Affidavit for Transfer of Title to Real Property
• Original Will if available or certified copy of Will from the court of record
• Certified death certificate

And a copy of the closing statement if probate occurred in another county.

The Probate Registrar will issue a certified copy of the Affidavit, if approved. You may then record the certified copy in the Arizona county where the real property is located.

Even Seemingly Simple Estates Can Get Complicated

The attorneys at Keystone Law Firm know how to help you through probate and beyond. Call us at (480) 418-8448 to set up an appointment. We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.