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For decedents who owned property of relatively modest value, Arizona law provides for ownership transfers that do not require probate court oversight.

Small Estate Affidavit

A

small estate affidavit,

also known as an Affidavit for Transfer of Personal Property, allows an heir to transfer or claim the estate’s assets free of probate, provided that the net value of those assets qualifies for small-estate treatment.

To qualify, the value of the decedent’s total personal property (e.g., cash, bank accounts, securities, business interests, vehicles, and other non-real estate assets), minus any liens or encumbrances on those assets, must be $75,000 or less.

Continue Reading Small Estate Affidavits: Avoiding probate in property disposition