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Have you thought about what will take place to your children or your possessions if something should happen to you? Do you encompass a will telling what your desires are for your children and your possessions?

A will can aid to protect your family from many issues that can occur once you have passed away. If you have children, especially small children, it is vital that you have a will so that there are no issues regarding who your children should be with if they can’t be with you.

There are a number of benefits to having a will. One of the advantages is that you decide how you want your estate distributed. You decide if you want to leave all of your assets to your spouse and kids or if you want to abscond a specific item to a close companion or even if you want to donate some of your assets to charity. lacking a will, the law gets to decide how your estate is divided and it might not be in the manner that you would have chosen it to be.

Another thing that you want to think about doing is appointing someone to be the the person responsible for of your estate. This person will speak on your behalf once you are gone. When choosing an Executor, it should be someone that you confide in and who knows what you desire done with your estate

A very significant reason to have a will is so everyone knows who you would like your children to go to. kids can get torn between different sides of the families and that isn’t good for the offspring or the additional family members concerned.

Having a will can reduce complications that can take place after you pass away. Being accountable and writing a will and establishing set guidelines on who you desire your children to go to and how you wish for your property to be divided is one of the greatest things you can do to provide your family a little peace of mind after you are departed.

Leaving your family to speculate and second guess what your decisions would be can cause a lot of family disagreement and if your relatives are already having to deal with the emotional anxiety of you being gone, why would you wish for to add to that by not having a will that states your exact needs. Go get a will done today!

written by Hugh Roberts

What is probate anyhow? Probate is when an submission is sent to the judges so you can get authorization to deal with the assets of someone who has died. You may need the aid of a probate solicitor.

What precisely is a probate solicitor? A probate solicitor is someone who can handle any and all lawful matters of a person’s demise and they can also assist distribute their assets after they have passed away.

If someone makes a will, they can choose an consultant or solicitor to help the family members they have chosen to deal with the assets. People normally have an Executor who is responsible for getting a grant of probate. Sometimes people also have an administrator also who assists the Executor with some aspects of dealing with someone’s estate. An administrator is responsible for getting a grant of letters of administration.

prior to you can apply for a grant request, you need to figure out how much the material goods of the deceased person are worth. This would consist of any possessions that is owned, cars, boats, and all the belongings that are in the house or houses. You also ought to know how much money the deceased had in their bank financial records. You can generally get all of these things prepared in about three months so you should be able to submit an application for a grant request after that.

Before you make up your mind if you want to try to handle all of these matters with no a probate solicitor there are a few things to maintain in mind. You will be dealing with the sorrow of losing someone you love. There are also a lot of papers and forms that require to be filled out.

A probate solicitor has experience and knowledge about what forms are needed and the right way to fill them out. an additional thing you need to be ready for is if you make a oversight, you pay for it out of your individual pocket. In the event that a solicitor makes a mistake, which seldom happens, they are insured. You also must to keep in mind that if a family dispute comes up over the will, do you feel like to be the one in the center of it? Last but not least a solicitor can give you information and guidance during a occasion that you may not be thinking very clearly.

It is never an easy thing losing a loved one and handling their financial matters can be very troublesome. Hiring a probate solicitor will give you a peace of mind during a difficult time and you can rest assure that your loved ones estate is being handled competently and efficiently.

written by Fredrick Simmons

Is Probate necessary for you? Perhaps there’s an easier way.

If the estate includes less than $50,000 of personal property and less than $75,000 worth of real estate then you may be able to take advantage of A.R.S 14-3971, Affidavits of Succession.

WAGES

After the individual’s date of death, an affidavit may be given to his or her employer at any time. This can authorize the surviving spouse to receive any wages due up to $5,000 (as long as an Application for probate proceeding isn’t pending).

PERSONAL PROPERTY AND DEBT

At any time after 30 days from the date of death an affidavit may be drafted obligating the possessor of any tangible personal property owned by the decedent to be turned over to the successors. Tangible personal property includes stock. The same is true for any legally binding debt owed to the decedent, it must be paid. There are two caveats:

1) That the total value of the combined personal property value and indebtedness not exceed $50,000 and;

2) A Probate proceeding is not currently pending in court.

MOTOR VEHICLES

These fall under personal debts and tangible personal property. An affidavit is drafted and sent to the Dept. of Motor Vehicles, which then provides a new title to the beneficiary.

These personal property/debt affidavits don’t have to be filed with the court, nor do they need a signature from a Judge, nor a stamp from the Probate Registrar to be legal. When providing a possessor of one of these assets with an affidavit, it may also prove smart to supply them with a copy of the statute so they can understand its legality.

REAL ESTATE

Not before 6 months from the date of death may the successor file in court under which the deceased was domiciled at the time of death (or if the deceased wasn’t domiciled in Arizona, then the county in which the real estate is located), subject to penalties of perjury, describing the property and the decedent’s interest in that property along with the following affirmations:

1) No probate proceeding is underway in any jurisdiction for the decedent.

2) That the value of the property, less liens and encumbrances, does not exceed $75,000 as valued at the date of death.

The real estate’s value is established using the value in the assessment rolls for the year when the death occurred. If there is any debt that is secured by a lien on the property, then the value is established by the unpaid principal balance due at the date of death.

3) Expenses relating to the individual’s last illness before death, the funeral costs and all unsecured debts have been paid off.

4) There is no other individual who has rights to the interest of the decedent.

5) There is neither federal or Arizona estate tax due on the estate.

Once the affidavit is in order and filed with the court, the court will issue an Order which requires the Probate Registrar to then issue a certified copy of the affidavit.

By going through this process and recording a certified copy in the county where the real estate is located, the successor puts everyone on notice about whom the new legal property owner is at this time.

Quick, easy and able to be prepared by a competent paralegal (or certified document preparer), Affidavits of Succession are a superb alternative to probate.

written by Stephen Trezza