Probate and Trust Administration
I want to feel relaxed and assured knowing that my loved one’s estate or trust will be distributed properly.
What Is Probate?
Probate is the court process by which a deceased person’s estate is distributed to heirs and designated beneficiaries. An estate includes all real and personal property owned by a deceased person. The distribution of an estate is done according to the deceased person’s will, if they had one. If not, the estate is divided among the nearest heirs of the deceased person according to state law (e.g. surviving spouse, or children, or a combination of spouse and children). In Arizona, the probate process is required for any estate that includes more than $100,000 of real property (real estate) or more than $75,000 personal property.
The probate process may include the following: the gathering and selling of assets, notifying creditors, notifying heirs of distributions, paying creditors and taxes, petitioning the court to close the estate, and distributing real and personal property to a deceased person’s designated beneficiaries. Even a small estate can have complex problems, so the probate process is best handled by our team of experienced attorneys.
Can probate be avoided?
Yes, Magellan Law can design an estate plan that carries out your desired inheritance plan AND avoids the need for probate.
What Is Trust Administration?
Some people may choose to establish a trust as a central part of their estate. This ensures that the execution of their estate will avoid legal supervision altogether. Because this is usually a more accelerated process than probate, it is often a much more private and cost-effective option. We’re here to work with you to make sure your estate and trust is set up with such care and efficiency that the administration becomes as smooth and swift as possible.