Leisure World News

Leisure World News • Community • March 2022 A13 LEGACY FILES Is Probate Necessary if There is a Will? By Rilus M. Dana When dealing with the loss of a loved one, the grief can feel impossible to bear. This grief is made even more challenging when you add the pain of being held responsible for the distribution of your loved one’s assets. As an estate planning and probate law firm, my firm works with clients at all stages of planning and after the loss of a loved one. We know how difficult it is — which is why we approach the situation with care, compassion and make it as easy and straightforward as we can. Before you begin the lengthy probate process, it is important to speak with an experienced probate attorney to determine whether or not probate is needed. In some cases, the deceased person may have set up specific trusts to avoid probate, but you will not know until you speak with a licensed professional. What is Probate? Probate is the legal process that determines what happens to an estate after the property owner dies. It is a lengthy and complex process that can take anywhere from six to 18 months, or even longer if the terms are contested. When maneuvering the probate process, it is always best to seek the help of legal representation before getting started. A probate involves determining the validity of the will (if there is one), taking inventory of the deceased person’s assets, paying off their debts and taxes, and distributing the remaining assets as directed by the will or by state law if there is no will. When Probate Required There are four main instances that most often require the involvement of a probate. These are: 1. Homeowner passes away without a co-owner, trust or beneficiary. 2. Bank account with no joint owner or beneficiary. 3. Life insurance with no living beneficiary listed. 4. Retirement account with no living beneficiary listed. In the likely event that a probate is necessary for an estate, you will not have authority over assets until you have been appointed the executor of the estate by a probate court. While it can be incredibly difficult to take care of business after the loss of a loved one seeking legal help from a probate attorney right away can be extremely helpful in keeping things on track and getting your duties done in a timely manner. When is Probate Not Necessary? Many people make estate planning arrangements during their lifetime to avoid putting their loved ones through the probate process after they pass. While avoiding probate is not always a possibility, it can help the beneficiaries of the deceased to escape the legal fees and endless paperwork involved in the probate process. These are the three main ways for estates to avoid probate: 1. Setting up a living trust. 2. Having joint tenancy in place. 3. Naming beneficiaries on accounts. During such an emotional time, the probate process can feel like an overwhelming burden. At Dana and Associates, our experienced probate attorneys are here to guide and support you throughout the process. The probate process is not always a smooth one, so our job is to ensure that your duties are fulfilled and make it as painless as possible for you and your family. Let us worry about the legalities, so you can focus on healing and moving forward. Dana and Associates, LLC, is one of the top probate law firms serving clients in Arizona and California. Contact us today for a free consultation with one of our highly skilled probate attorneys to see how we can help you! -Rilus M. Dana, J.D., is the Managing Partner at Dana and Associates, LLC. Protecting Your Legacy PROBATE AND ESTATE LAW DanaLegalHelp.com 2509 S. Power Rd. Suite 207 Mesa, AZ 85209 (480) 924-4424 info@dana.legal FREE PERSONAL FAMILY LEGAL SESSION (a $350 value) for Leisure World Residents if you mention this ad For a limited time only! NOW WELCOMING IN-OFFICE APPOINTMENTS! (602) 739-5717 FROM SINGLE ROOM TOWHOLE HOUSE DESIGN. We can give you the home you ’ ve always wanted! General Contractor | Interior Design Wes Linscott | Joan Linscott LEISUREWORLD RESIDENTS | 40 YEARS EXPERIENCE LICENSED | BONDED | INSURED | ROC# 199809 LEGAL SERVICES TAX PREPARATION Personal, Farm & Business •All Federal & State •E-File File from AZ - Leave Later ATTN: 99% of you do not understand or have correct estate plan documents Probate Avoidance- Without A Trust- NewArizona Laws-What AZAttorneys don’t want you to know- Living Trusts- Wills- Power of Attorney- Probate- Real Estate and Business Entities. DALE R. THORSON Attorney, CPA AZ Attorney 38 Years • CPA 48 Years Evening & Weekend Appointments (480) 641-3000 31 S. 63rd St. #2, Mesa (SE Corner of Main & 63rd St. 1/2 mile west of Power Rd.) dale@dalethorson.com Web Address: www.dalethorson.com “Our tax preparation cost is normally half of national companies. Let us give you a quote.” CPA with 48 years tax experience