This bill proposes to amend current statutes regarding the transfer of small estates through affidavits. Under the existing law, the maximum value of personal property that can be transferred via affidavit is set at $75,000, and for real property, it is $100,000. The bill seeks to increase these limits significantly, raising the personal property threshold to $200,000 and the real property limit to $300,000. These changes are intended to facilitate the transfer of small estates without the need for formal probate proceedings, thereby streamlining the process for successors of decedents.

Additionally, the bill makes technical adjustments to the language of the statute, ensuring clarity and consistency in the requirements for filing affidavits. It maintains the existing provisions that require an affidavit to confirm that no personal representative has been appointed and that the values of the estate do not exceed the newly proposed limits. Overall, if enacted, this legislation would modernize the small estate administration process in Arizona, making it more accessible for individuals dealing with the estates of deceased loved ones.

Statutes affected:
Introduced Version: 14-3971
House Engrossed Version: 14-3971
Chaptered Version: 14-3971