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Sharon Ravenscroft Estate Planning Blog

Welcome to my blog covering all things estate planning, family estate planning. business planning, wills, trusts & probate.

Increase in the maximum value of assets to avoid probate

The Arizona legislature has passed a law effective on September 12, 2013, which increases the amount of assets which would require a probate. You can avoid probate only if the assets you hold in your name do not exceed $100,000 of real property or $75,000 in personal property (cash, accounts and tangible personal property). This is increased by
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How much trouble can probate really be?

Your accounts, whether in a bank or investment institution, and your real property all have legal title requirements. Financial institutions and title companies will not release assets unless the legal requirements are satisfied. If you die with assets in your name, and if those assets total more than $50,000, then a probate court filing will be
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Does your Deed Realy Avoid Probate?

I find that many couples who think their deed to their home will avoid probate, find out too late that it does not. Even if the other owner is your spouse, you still need the deed to say it is owned "with right of survivorship." Otherwise, if one of you dies, the other will have to go to court and have it probated. In addition, title companies
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Three ways to avoid Probate for Real Estate

Would you like to avoid the probate court process, upon your death, with your home or other Arizona real estate? This can be done by (1) deeding the property to your revocable trust; (2)recording a beneficiary deed and listing your beneficiaries; or (3) titling the property as joint tenants with right of survivorship or community property with
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Probate does not keep your privacy

When a probate is filed, all of your legal heirs must be notified. Legal heirs are those who would receive your assets if you did not have a Will. Thus, even if you want your assets to go to friend or certain relatives, if probate is necessary, all legal heirs will receive notice of it. To keep matters private, you can avoid probate several ways
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