This bill proposes significant updates to the current statutes governing small estate administration in Arizona. Specifically, it increases the maximum allowable value of personal property in a decedent's estate that can be transferred via affidavit from $75,000 to $200,000. Similarly, the limit for real property is raised 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 existing law, including clarifying the conditions under which an affidavit can be presented for both personal and real property transfers. The updates ensure that the affidavit must state that no application for a personal representative is pending and that the specified value limits are adhered to, as determined at the time of death or the time of the affidavit. Overall, these amendments are designed to streamline the process of small estate transfers and reduce the administrative burden on successors.

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