In Arizona, estate owners need assistance preparing for the probate process that begins when the estate owner dies. The court prevents the assignment of any assets until the process is complete. An administrator manages these requirements for the estate owners. Local attorneys provide probate administration services around Gilbert to assist these estate owners.
Managing Outstanding Debts
The first step is to manage any outstanding debts that have accumulated. During probate, creditors have the right to file a claim against the estate, which gives them access to monetary assets to settle the debt. The process determines if the debt is valid. If it is, a portion of the estate is used to settle it. If it isn’t valid, or the creditor acquired payment through insurance, the claim is denied.
Presenting New Ownership Assignments
The administrator provides new ownership assignments according to the estate owner’s will. The will helps them identify the new owner for residential properties, trusts, and other assets. The administrator provides the deed or title for these assignments as they officiate this process. They also mitigate the potential for any disputes among family members.
Distribution of Wealth
The distribution of wealth depends on provisions generated by the estate owner. They can create trust funds for their children and outline how it is distributed. They can also provide immediate assignments for their savings or check account balances. The administrator manages these assignments through direct access to the estate owner’s assets.
Officiating Guardianship Assignments
Guardianship assignments are officiated according to the assignment in the will. The administrator enforces the assignment by sharing the parents’ wishes for their children. They may also provide letters from the parents explaining their choices. These measures are used to prevent disputes.
In Arizona, estate owners follow the laws to prevent major issues during probate. They create wills, trusts, and immediate assignments to achieve asset protection. These measures may also prevent seizure through the probate process, and they can lower the risk of disputes between family members. Estate owners who wish to acquire probate administration services around Gilbert should contact the law firm of Janet R. Feeley, L.L.C. or visit the website for more info.
