How Can I Avoid Probate in Arizona?
Avoiding probate of your estate is one of the many good reasons you should consider creating a property executed estate plan. Your family could be forced into expensive and prolonged litigation in a probate court if they were to disagree regarding who will manage your assets prior to the final distribution of your assets or there are disagreements amongst your heirs regarding the value of your assets or the final distribution of those assets amongst your heirs.
Furthermore, the court will be required to distribute your assets in accordance with the applicable Arizona statutes, which may not be the same distribution you may have otherwise chosen. The best and most cost effective way to avoid these problems is to have a properly executed and complete estate plan.
However, there are certain assets that automatically pass to a designated person(s) upon your death and would not, therefore, be subject to management or distribution by a probate court. Specifically, certain designations on bank accounts, retirement accounts, and life insurance policies will cause those assets to immediately pass to the designated persons indicated on those accounts, as discussed below.
Scottsdale Arizona Estate Planning Attorneys.