Brian Blum
11-25-2007, 04:24 PM
If you die with real estate titled in your name (and worth more than $75,000), your heirs will have to go through probate to get your real estate. Although the probate process in Arizona isn't too bad, it will still cost you about $2000 if you hire a lawyer to make sure it's done properly.
There are several ways to avoid probate and save your family the time and effort involved. One easy way is to record a "Beneficiary Deed" with the county recorder in the county where the real estate is located. The beneficiary deed will transfer your real estate to whoever you want, automatically, at your death. No probate. No wasted time.
You can do this yourself by using the form from the Arizona Revised Statutes (http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/ars/33/00405.htm), or you can hire an attorney (like me!) to do it for you.
My beneficiary deed service is $200, and I offer a 15% discount for AZVJC members, so it would be $170. The service includes:
1. Prepare the Beneficiary Deed.
2. Record the deed with the county recorder
3. Prepare a Revocation Deed (in case you change your mind later)
4. Prepare a letter with instructions on how to record the Revocation Deed (in case you change your mind).
*NOTE: If you have more than $50,000 in personal property titled in your name only (anything that is not real estate) then your heirs will still have to open a probate, but at least your real estate will already be taken care of.
There are several ways to avoid probate and save your family the time and effort involved. One easy way is to record a "Beneficiary Deed" with the county recorder in the county where the real estate is located. The beneficiary deed will transfer your real estate to whoever you want, automatically, at your death. No probate. No wasted time.
You can do this yourself by using the form from the Arizona Revised Statutes (http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/ars/33/00405.htm), or you can hire an attorney (like me!) to do it for you.
My beneficiary deed service is $200, and I offer a 15% discount for AZVJC members, so it would be $170. The service includes:
1. Prepare the Beneficiary Deed.
2. Record the deed with the county recorder
3. Prepare a Revocation Deed (in case you change your mind later)
4. Prepare a letter with instructions on how to record the Revocation Deed (in case you change your mind).
*NOTE: If you have more than $50,000 in personal property titled in your name only (anything that is not real estate) then your heirs will still have to open a probate, but at least your real estate will already be taken care of.