This bill proposes significant updates to the current statutes governing small estate administration in Arizona. Specifically, it increases the maximum value of personal property that can be transferred via affidavit from $75,000 to $200,000, and the maximum value of real property from $100,000 to $300,000. These changes aim to facilitate the transfer of small estates by allowing a greater value of assets to be handled without the need for formal probate proceedings. Additionally, the bill makes technical adjustments to the language of the statute, ensuring clarity and accuracy in the process of transferring estates. It maintains the existing requirements for affidavit submission, including the stipulation that no personal representative is pending or has been appointed, and that the values of the estate are assessed as of the date of death or the date of the affidavit. Overall, these updates are designed to streamline the small estate process and reduce the administrative burden on successors.

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