Our parents both passed away this last year.
They had a trust. There is an annuity worth $60,000 that we would like to have distributed to the trust acccount for distribution to three siblings. We have completed a certification of the trust agreement. Midland National Annuity now wants the small estate statute directing them to pay the benefit. We are having trouble finding on-line the correct Arizona form for this. Out parents lived in Prescott which is in Yavapai County. My brother is the executor of the trust but he works overseas.
The Arizona statute for dealing with small estate property transfer affidavits is found in A.R.S. § 14-3971. Under § 14-3971(B), a person can submit an affidavit to to the person holding the personal property (bank accounts, stocks, vehicles, etc.) registered in the decedent's name. To collect personal property by this method, however, the value of all of the personal property in the decedent's estate cannot exceed $50,000. For this option to be available under your scenario, the estate must have some debts offsetting the value of the annuity by at least $10,000.
The affidavit must state:
1. Thirty (30) days have elapsed from the date of death of the decedent.
2. No application or petition for appointment of a personal representative is pending or has been granted.
3. The person requesting payment is the successor of the decedent and is entitled to payment or delivery of the property.
The link to Yavapai County's forms for this procedure is located here:
This answer is for informational purposes only under the AVVO system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney-client relationship. Jared A. Kartchner www.kartchnerlaw.com
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