Do you have to pay taxes when you’re receiving an inheritance? What if it’s 10 grand? What if it’s a hundred thousand dollars? What if it’s a million dollars? What if it’s 10 million dollars? Do you pay taxes on that when you’re receiving it as an inheritance? It breaks down into a few…
Details How much can you inherit in Arizona and pay zero, big fat zero in taxes? Would you like to know? It’s not a big secret. Arizona doesn’t impose estate taxes. They don’t have a tax on the estate, but the federal government does. It’s about $12 million, if you’re under $12 million, you won’t…
Details Is a will enough to avoid probate in Arizona? No. This is when I get asked all the time, and the answer is no. Do you need me to do a longer video than that? The answer is no; if you have a will, you must go to probate. Here’s what happens when somebody…
Details What has to be done before you file for probate? There’s a lot of things I’m gonna focus on, the kind of probate that happens after somebody passes away when you lose someone. First and foremost, deal with the ceremony and deal with the funeral. Whatever you’re gonna do, the cremation deals with that…
Details What’s the average cost of probate in Arizona? There’s two kinds of probates you need to know about. There are two, and there’s lots of different big kinds. The first one is one we all know about what happens after we pass away. It’s not all protected from probate. The average cost there is…
Details Can I clear out the house before I start probate? If you just had somebody pass away, they left the house with all their stuff in there. Can you start clearing it out before the actual probate? It’s a little bit of a risk. You need to know it’s a little bit of a…
Details Going into court, you got to know what Rule 16 is of Arizona rules of the probate procedure. What is Rule 16? Rule 16 is what gets a lot of lawyers thrown out on their faces at the very first time they talk to a probate judge. Admittedly, we get caught once every few…
Details Why do you have to wait six months after somebody passes away to distribute? The biggest reason is, well, there’s two big reasons. First, if you think you know, even if you do really think you know who their creditors were. Who they owed money to, the bills, medical expenses, credit cards, whatever. You…
Details On what grounds can somebody actually challenge a probate or a will? We’re doing a lot of internal training with my team right now, and I actually created a whole new system for us to be able to easily sort of pick from a list. What are all the different reasons we can challenge…
Details I know you’re wondering, how long does an executor actually have to wrap up a whole probate? What are the time limits around this? In Arizona probate can take basically as long as it needs. An executor doesn’t really have a timeline. There’s a recommended start date, which is 60 days after somebody passes…
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