Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified probate attorney for advice specific to your situation.
Detailed Answer
1. Identify the Appropriate Representative
Under Arizona law, only an appointed personal representative (also called an executor or administrator) may legally access estate assets, including bank accounts. If the decedent left a valid will naming an executor, that person files a petition for probate. If no will exists, Arizona Revised Statutes (ARS) §14-3501 sets the priority of heirs who may serve.[ARS §14-3501]
2. Open Formal Probate and Obtain Letters
You file a Petition for Probate with the Superior Court in the county where the decedent lived. The court issues Letters Testamentary (for a will) or Letters of Administration (intestate). You must obtain certified copies of these Letters from the court clerk.
3. Present Documentation to the Bank
Once you hold certified Letters, present them to the bank along with the decedent’s death certificate and your ID. The bank will freeze the old account and open a new estate account. You transfer funds into the estate account and pay valid debts.
4. Use Interim Distributions for Expenses
Arizona law allows a personal representative to withdraw reasonable amounts before full probate to pay funeral and administration expenses. Under ARS §14-3906, you may request interim distributions to cover:
- Funeral and burial costs
- Estate administration fees
- Basic family allowances
Provide an itemized request to the court for approval of these interim withdrawals.[ARS §14-3906]
5. Consider the Small Estate Affidavit Option
If the decedent’s total personal property (excluding real estate) is under $75,000, you may qualify for a small estate affidavit. Heirs use this simplified process to claim bank funds without full probate. Requirements include:
- Affidavit filed with the court or presented directly to the bank.
- Value of all personal property under $75,000.[ARS §14-3971]
- Wait period of 30 days for potential creditors to object.
After the waiting period, the bank may release funds to the affiant.
6. Final Accounting and Distribution
After settling debts and taxes, you file a Final Accounting with the court. Once the judge approves, distribute remaining funds to beneficiaries according to the will or Arizona’s intestacy rules.
Helpful Hints
- Keep detailed records of all withdrawals and expenses.
- Order multiple certified copies of Letters for other institutions.
- Notify all banks and creditors of the decedent’s death promptly.
- Confirm the small estate threshold each year (subject to adjustment).
- Consult probate court clerks for local filing requirements and fees.