Week 11 Class Notes - Test 2

Question 1

Estate administration (probate) consists of (1), (2) and (3)

Answer 1

1. gathering assets
2. paying bills/taxes
3. and distributing assets

Question 2

Probate is only required if the decedent (1) at death. Only the (2) may administer the estate, and only with (3)

Answer 2

1. owned property (real or property)
2. personal rep./exec.
3. letter testamentary

Question 3

4 things to “prove” in proate

Answer 3

1. decedent is dead
2. decedent owned the property that the PR claims they owned
3. the decedent had the power to pass the property on (to give title to recipient)(e.g., not JTWROS)
4. claims of creditors (prove or disprove)/protect decedent’s assets against losses

Question 4

The pre-probae process is to (1). In most jurisdictions, if the will cannot be found, the law (2), which is a (3) by offering (4). If it is not rebutted, the will is (5)

Answer 4

1. find the will
2. presumes the will was destroyed
3. rebuttable presumption
4. evidence to the contrary
5. revoked

Question 5

In Arizona you can probate a (1) in conjunction with (2)–this is called (3). You can also probate (4) in conjunction with (5)–this is called (6)

Answer 5

1. copy of the will
2. witness to confirm the copy is a true copy of the will
3. substantial evidence
4. without a copy
5. someone to testify to the copy’s contents
6. clear and convincing evidence

Question 6

A will can be probated where (1) OR where (2). The latter is more likely if (3)

Answer 6

1. the decedent was domiciled
2. the decedent owned property
3. the decedent was ONLY domiciled at domicile (e.g., renting)

Question 7

If an estate may be probated in multiple places, proceedings will continue where the (1). If they are opened in more than one county, the court can (2).

Answer 7

1. probate starts

2. transfer proceedings

Question 8

If a decedent owned property in one state but domiciled in another, (1) and (2)

Answer 8

1. primary probate = domicile state

2. ancillary probate for property

Question 9

6 steps to probate

Answer 9

1. appoint personal rep. and other helpers
2. notification
3. inventory
4. manage claims
5. distribute assets
6. close estate

Question 10

The basic philosophy of AZ probate code is to (1)

Answer 10

1. minimize court involvement

Question 11

4 ways to probate an estate

Answer 11

1. supervised (for complex estates) (not common)
2. formal (IF someone complains)
3. Informal (Start with this, stay if nobody complains)
4. small estate

Question 12

An estate can be started informally with the personal rep. appointed by the (1)–the proceedings are initiated by the (2), which must be within (3). No (4) is needed. The appointment is (5) unless set aside in (6)–which will happen if it is contested by the (7) within (8). Many parties can open the estate, including (9). Within (10), the personal rep. must notify the heirs of the appointment.

Answer 12

1. clerk (of registrar)
2. application to the registrar
3. 5 days of death of the decedent
4. advance notice
5. binding
6. formal proceedings
7. heirs
8. 4 months
9. creditors
10. 14 days

Question 13

4 examples of reasons formal proceedings may be necessary

Answer 13

1. determination of heirship (in the case that existannce of heirs is doubted)
2. informal process is challenged (only way t set aside informal proceeding)
3. personal rep. believes there will be a will contest
4. estate is open for petition in a supervised aministration but the court does not grant it (moves “back” into formal(

Question 14

5 rules re: moving between types of proceedings

Answer 14

1. It is USUALLY possible to initiate probate or appt. of the personal rep. by an informal proceeding
2. It is ALWAYS possible to initiate by a formal proceeding
3. It is ALWAYS possible to move from an informal proceeding to a formal proceeding
4. It is USUSALLY possible to move from formal to informal
5. At any time, an interested party may petition the court for a supervised aministration (once done, you can never go back)

Question 15

In a supervised aministration, the (1) supervises everything the (2) does. This type of admin is only availably when (3) OR (4)–the latter has no (5). A supervised administration may also be accepted if (6)

Answer 15

1. court
2. personal rep
3. will directs it
4. it is necessary in the circumstances
5. definition in the code
6. siblings don’t get along

Question 16

(1) proceedings are the most common.

Answer 16

1. informal

Question 17

A (1) can be transferred without the need for probate. To qualify for this, the value of (2) cannot exceed (3) and the value of (4) cannot exceed (5). There is a time limit, too–you must wait (6) for personal property and (7) for real property.

Answer 17

1. small estate
2. personal property
3. $75k
4. real property
5. $100k
6. 30 days
7. 6 months

Question 18

In informal proceedings, letters testamentary come from the (1), while in formal, they come from (2)

Answer 18

1. the registrar

2. the court (judge)

Question 19

The probate inventory is due within (1) after (2) of the personal rep. This requires a listing in (3) of (4) at (5). It can always be (6). It can be sealed, but (7) and (8) need a copy. Items with no value can be (9).

Answer 19

1. 90 days
2. appointment
3. detail
4. property
5. market valuec(current at time inventoried/after death)
6. amended
7. heirs
8. creditors
9. thrown away by the personal rep

Question 20

A (1) can be appointed to gain access ad manage online accounts.

Answer 20

1. digital executor

Question 21

The personal rep must publish notice to creditors (1) for (2) in a paper of (3) in the (4). Creditors have (5) from the date of (6) to file a claim. If the claim is denied (as fraud, etc.) the creditor may (7)

Answer 21

1. once a week
2. three weeks
3. general circulation
4. county of the probate
5. 4 months
6. first publication
7. appeal to the court

Question 22

Except in supervised aministration, the personal rep may (1) without order of the court. If the personal rep has an doubt, he should (2). If two or more heirs are entitled to property they get an (3), BUT an (4) allows one person to (5).

Answer 22

1. distribute to heirs
2. petition the court for instructions
3. undivided interest
4. action in partition
5. force the sale of the asset (the other sibs may buy out that interest)

Question 23

If a will allows distribution of the asset or its value, this is called (1)

Answer 23

1. in kind or in cash

Question 24

Any beneficiary may renounce his share, if, for example, he is (1), IF he submits a renunciation in (2) within (3). If the heir renounces, the will will proceed as if (4). Heirs may also (5) if they all agree, either by (6) or by (7)–the latter of which must be approved by the court.

Answer 24

1. subject to creditors
2. writing
3. 30 days
4. the heir predeceased the deceased
5. rewrite the terms of the will
6. family agreement
7. will compromise agreement

Question 25

FOR THE TEST, BE SURE TO PRINT MATERIAL FROM CANVAS AND STUDY!!

Answer 25

ok :)