Probate Administration
The Personal Representative (called an executor in some states) is responsible for administering the Estate as directed in Decedent's will, or if no will exists, as requried by Arizona laws. This process is called probate administration.
Probate administration involvesgathering the probate assets, paying valid debts and then distributing the remainder to the heirs and devisees. This may require selling certain assets such as stocks, cars, or real estate. On the other hand, the Will may direct that certain items or property be distributed to the beneficiaries without sale.
Prior to any distribution of assets, notice must be given to all creditors, both known and unknown. Arizona law requires that creditors have four months to file a claim with the Personal Representative if they believe the decedent owed them money. The Personal Representative then has sixty (60) days to respond to the claim. If the claim is ignored, then the claim is treated as though it is admitted and must be paid. If creditors are dealt with improperly, beneficiaries or the creditors themselves may be able to sue the Personal Representative.
To protect yourself from potential liability and distribute the estate quickly, it is advisable to have an Attorney with you through the Probate process.
If you would like to contact Owens & Perkins regarding Probate Administration services, click here.