Estate Administration

Estate administration is the legal process of settling a deceased person's final affairs. This involves managing and distributing their assets and paying their debts. The process is overseen by an appointed administrator who must act in the best interest of the estate and its heirs. Tasks include inventorying assets, paying outstanding taxes and creditors, and distributing the remaining property to beneficiaries. The administrator is the appointed individual responsible for these tasks.

Estate administration and trust administration duties can overlap but there is a very big difference between the two: 

• Estate administration deals with the distribution of assets as stipulated in a will. It goes through probate. 
• Trust administration covers assets placed in trust (not a will) by a grantor for named beneficiaries. It avoids probate.

Arizona Fiduciary Services is licensed to be named personal representative for clients throughout Arizona. Our Tucson office handles personal representation for clients in southern Arizona including Tucson, Marana, Oro Valley, and Green Valley. We also work with out-of-state attorneys and private clients. 

Duties of an Estate Administrator

As with trust administration, it is wise for an inexperienced executor to seek the advice of a fiduciary or attorney to be sure all legal administrative requirements have been met. 

Estate administration duties can include the following:

• Locate, study, and file original will with court (Requires petitioning the probate court to be      appointed executor)
• Inventory and safeguard assets
• Collect income, verify and pay obligations
• Manage investments
• Review stock holdings and confer with brokers
• Assist with gathering information for tax return preparation
• Consult with accountants and attorneys
• Secure personal property
• Prepare real property taxes and assessor's transfer exclusion forms
• Manage decedent's business (if applicable)
• Notify beneficiaries and creditors
• Prepare and file accounting
• Produce financial reports
• Distribute estate, or if no will exists, determine the heirs and distributions according to law
• File a final account with the probate court.

Contesting the Estate

There is always a chance that a family member or another entity will contest the estate documentation. This is another good reason to consult with a professional when the documents are being drawn up. Contested legacies can be very costly, financially and emotionally.

No matter how small or large the estate, Arizona Fiduciary Services will handle everything in a timely manner with integrity, intelligence, and experience. 

Arizona Fiduciary Services has substantial experience in probate estate administration and is licensed for personal representation throughout Arizona. We work with law firms and their clients as well as contracting directly with private individuals. Our principal, Laurie Kuzdal, is a probate paralegal with extensive experience in: 

• Understanding probate procedures
• Preparing statutory forms and pleadings
• Handling full probates 
• Handling non-probate transfers of assets from inception to completion

What is a personal representative?
The person legally entitled to administer the estate, AKA executor. 

Who can be named personal representative of an estate?

One or more persons can be named in a will or if no will exists, a close heir (spouse, adult child, parent, sibling) can be named or even a contracted professional such as a fiduciary. The court has final say who is executor -- prioritizing those named in the will first, then on to the closest relatives. 

What is probate? 

It is the court-supervised legal process of validating a will (if one exists), identifying and valuing a deceased person's assets, paying their debts and taxes, and distributing the remaining property to heirs or beneficiaries. It ensures assets are transferred correctly, but can be lengthy, costly, and public, leading many to use estate planning tools like trusts or beneficiary designations. 

What is probate administration?

It is the management and distribution process of a decedent's assets according to the estate planning documents by the personal representative (executor).

Does everyone go through probate?

No, not everyone must go through probate. Many assets can bypass probate through mechanisms such as living trusts, or when the estate is very small and simple. Probate is usually required if there are family disputes or for assets solely in the deceased's name without a beneficiary (especially real estate or significant personal property). 

Who does estate administration in Tucson?

Arizona Fiduciary Services is the largest family-owned fiduciary service in Arizona with over 15 years of probate estate administration experience. We've seen it all.