What are the requirements to qualify for small claims estate?
Full Question:
My father passed away 1 year ago. He had a will leaving everything he owned to myself and my brother, as the only surviving family members. He owned no real property at the time of his death. His only assets are Stocks that are held in an account. At the time of his death, the value was approx. $40,000. The value of the stocks today is $55,000. Does his estate qualify for a Small Claims Affidavit, thus by-passing probate procedures? I know the limit is $50,000, but is that amount fixed on the date of death, or time of filing?
11/29/2007 |
Category: Wills and Es... ยป Small Estates |
State: Arizona |
#13034
Answer:
The following are Arizona statutes:
14-3971. Collection of personal property by affidavit; ownership of
vehicles; affidavit of succession to real property
A. At any time after the death of a decedent, any employer owing wages,
salary or other compensation for personal services of the decedent shall
pay to the surviving spouse of the decedent the amount owing, not in excess
of five thousand dollars, on being presented an affidavit made by or on
behalf of the spouse stating that the affiant is the surviving spouse of
the decedent, or is authorized to act on behalf of the spouse, and that no
application or petition for the appointment of a personal representative is
pending or has been granted in this state or, if granted, the personal
representative has been discharged or more than one year has elapsed since
a closing statement has been filed.
B. Thirty days after the death of a decedent, any person indebted to the
decedent or having possession of tangible personal property or an
instrument evidencing a debt, obligation, stock or chose in action
belonging to the decedent shall make payment of the indebtedness or deliver
the tangible personal property or an instrument evidencing a debt,
obligation, stock or chose in action to a person claiming to be the
successor of the decedent upon being presented an affidavit made by or on
behalf of the successor and stating that all of the following are true:
1. Thirty days have elapsed since the death of the decedent.
2. Either:
(a) An application or petition for the appointment of a personal
representative is not pending and a personal representative has not been
appointed in any jurisdiction and the value of all personal property in the
decedent's estate, wherever located, less liens and encumbrances, does not
exceed fifty thousand dollars as valued as of the date of death.
(b) The personal representative has been discharged or more than one year
has elapsed since a closing statement has been filed and the value of all
personal property in the decedent's estate, wherever located, less liens
and encumbrances, does not exceed fifty thousand dollars as valued as of
the date of the affidavit.
3. The claiming successor is entitled to payment or delivery of the
property.
C. A transfer agent of any security shall change the registered ownership
on the books of a corporation from the decedent to the successor or
successors on presentation of an affidavit pursuant to subsection B of this
section.
D. The motor vehicle division shall transfer title of a motor vehicle
from the decedent to the successor or successors on presentation of an
affidavit as provided in subsection B of this section and on payment of the
necessary fees.
E. No sooner than six months after the death of a decedent, a person or
persons claiming as successor or successors to the decedent's interest in
real property, including any debt secured by a lien on real property, may
file in the court in the county in which the decedent was domiciled at the
time of death, or if the decedent was not domiciled in this state then in
any county in which real property of the decedent is located, an affidavit
describing the real property and the interest of the decedent in that
property and stating that all of the following are true and material and
acknowledging that any false statement in the affidavit may subject the
person or persons to penalties relating to perjury and subornation of
perjury:
1. Either:
(a) An application or petition for the appointment of a personal
representative is not pending and a personal representative has not been
appointed in any jurisdiction and the value of all real property in the
decedent's estate located in this state, less liens and encumbrances
against the real property, does not exceed seventy-five thousand dollars as
valued at the date of death. The value of the decedent's interest in that
real property shall be determined from the full cash value of the property
as shown on the assessment rolls for the year in which the decedent died,
except that in the case of a debt secured by a lien on real property the
value shall be determined by the unpaid principal balance due on the debt
as of the date of death.
(b) The personal representative has been discharged or more than one year
has elapsed since a closing statement has been filed and the value of all
real property in the decedent's estate, wherever located, less liens and
encumbrances, does not exceed seventy-five thousand dollars as valued as of
the date of the affidavit. The value of the decedent's interest in that
real property is determined from the full cash value of the property as
shown on the assessment rolls for the year in which the affidavit is given,
except that if a debt is secured by a lien on real property, the value is
determined by the unpaid principal balance due on the debt as of the date
of the affidavit.
2. Six months have elapsed since the death of the decedent as shown in a
certified copy of the decedent's death certificate attached to the
affidavit.
3. Funeral expenses, expenses of last illness, and all unsecured debts of
the decedent have been paid.
4. The person or persons signing the affidavit are entitled to the real
property by reason of the allowance in lieu of homestead, exempt property
or family allowance, by intestate succession as the sole heir or heirs, or
by devise under a valid last will of the decedent, the original of which is
attached to the affidavit or has been probated.
5. No other person has a right to the interest of the decedent in the
described property.
6. No federal or Arizona estate tax is due on the decedent's estate.
F. The normal filing fee shall be charged for the filing of an affidavit
under subsection E of this section unless waived by the court as provided
by section 12-301 or 12-302. On receipt of the affidavit and after
determining that the affidavit is complete, the registrar shall cause to be
issued a certified copy of the affidavit without attachments, and the copy
shall be recorded in the office of the recorder in the county where the
real property is located.
G. This section does not limit the rights of heirs and devisees under
section 14-3901.
14-3972. Effect of affidavit
A. The person paying, delivering, transferring or issuing personal
property or the evidence thereof pursuant to affidavit is discharged and
released to the same extent as if he dealt with a personal representative
of the decedent. He is not required to see to the application of the
personal property or evidence thereof or to inquire into the truth of any
statement in the affidavit. If any person to whom an affidavit is delivered
refuses to pay, deliver, transfer or issue any personal property or
evidence thereof, it may be recovered or its payment, delivery, transfer or
issuance compelled upon proof of their right in a proceeding brought for
the purpose by or on behalf of the persons entitled thereto. Any person to
whom payment, delivery, transfer or issuance is made is answerable and
accountable therefor to any personal representative of the estate or to any
other person having a superior right.
B. The motor vehicle division issuing title pursuant to affidavit is
discharged and released to the same extent as if it dealt with a personal
representative of the decedent. It is not required to see to the
application of the personal property or evidence thereof or to inquire into
the truth of any statement in the affidavit.
C. A purchaser of real property from or lender to the person or persons
designated as successor or successors in a certified copy of an affidavit
issued under section 14-3971 and recorded in the county in which the real
property is located is entitled to the same protection as a person
purchasing from or lending to a distributee who has received a deed of
distribution from a personal representative, as provided in section
14-3910.
14-3974. Small estates; closing by sworn statement of personal
representative
A. Unless prohibited by order of the court and except for estates being
administered by supervised personal representatives, a personal
representative may close an estate administered under the summary
procedures of section 14-3973 by filing with the court, at any time after
disbursement and distribution of the estate, a verified statement stating
that:
1. To the best knowledge of the personal representative, the value of the
entire estate, less liens and encumbrances, did not exceed allowance in
lieu of homestead, exempt property, family allowance, costs and expenses of
administration, reasonable funeral expenses and reasonable, necessary
medical and hospital expenses of the last illness of the decedent.
2. The personal representative has fully administered the estate by
disbursing and distributing it to the persons entitled thereto.
3. The personal representative has sent a copy of the closing statement
to all distributees of the estate and to all creditors or other claimants
of whom he is aware whose claims are neither paid nor barred and has
furnished a full account in writing of his administration to the
distributees whose interests are affected.
B. If no actions or proceedings involving the personal representative are
pending in the court one year after the closing statement is filed, the
appointment of the personal representative terminates.
C. A closing statement filed under this section has the same effect as
one filed under section 14-3933.
14-3973. Small estates; summary administrative procedure
If it appears from the inventory and appraisal that the value of the
entire estate, less liens and encumbrances, does not exceed allowance in
lieu of homestead, exempt property, family allowance, costs and expenses of
administration, reasonable funeral expenses, and reasonable and necessary
medical and hospital expenses of the last illness of the decedent, the
personal representative, without giving notice to creditors, may
immediately disburse and distribute the estate to the persons entitled
thereto and file a closing statement as provided in section 14-3974.
