What Are Arizona’s Laws on Elective Shares for Spouses in Estate Planning?

What are Estate Planning Laws in Arizona?

Estate planning is crucial for families as it helps them determine how assets will be distributed after a loved one’s death. The plan provides legal arrangements for property transfer and other assets to beneficiaries. Arizona has various laws that guide the estate planning process, and it’s crucial to gain a deep understanding when approaching the matter.

Estate planning lawyers in Phoenix highlight that a crucial aspect of estate planning laws is elective shares law, which determines how surviving spouses can inherit property from their deceased spouses. If you reside in Arizona and are wondering what your inheritance rights are after your spouse’s death, seek legal counsel from experts.

What Are Elective Shares?

Elective share laws in Arizona stipulate that spouses of deceased individuals have certain rights to inherit the assets left behind. Sometimes spouses are financially dependent on each other during marriage, therefore, a surviving spouse must be legally protected to help them maintain a similar living standard.

Chandler probate lawyers explain that a spouse has the right to request a portion of their deceased spouse’s estate based on elective shares. The law has the following provisions for elective shares:

Surviving Spouse’s Rights in Arizona

Arizona’s Trusts and Estates Code outlines that surviving spouses’ rights to the following assets:

• Intestate share
• Community property
• Homestead allowance
• Family allowance
• Exempt property

Arizona applies the rule of community property, which means that all assets acquired during marriage are shared equally between the spouses, regardless of how the assets are titled.

Waiving Off Rights to Elective Shares

Probate attorneys in Chandler highlight that you may not be eligible for the inheritance if you signed a prenuptial or postnuptial agreement that waives this right. However, you may take steps to assert a claim for elective share rights within a specific duration, lest the right will be unavailable. Work with skilled lawyers to help you preserve this right.

Elective Share Amount

The amount you receive from your deceased spouse’s estate depends on how you own the property. The law recognizes separate property, which is anything you or your spouse owned before the marriage. If your spouse dies without a will, these assets will be divided according to Arizona’s intestate succession laws.

There is also community property, which will be divided between you and your spouse’s children born in the current or previous marriage, even if your deceased spouse’s Will or Trust doesn’t provide for you. Under the elective share laws, you are entitled to 50% of the community property and 50% of the separate property your spouse owned at the time of death.

Who Inherits the Decedent’s Real Estate?

As a surviving spouse, you might wonder who has the right to inherit your deceased spouse’s real estate. Estate planning lawyers in Arizona say that the title deed may help determine the succession, depending on how it is held:

• If held by the decedent as the trustee: The property will be administered as outlined in the decedent’s estate plan. You will take over the real estate if you create the trust jointly and continue living in the house.
• Joint tenancy: If you’re named as “joint tenants with the right of survivorship,” then you will have the right to inherit the house without the need to go to a probate court.
• Separate property with the decedent’s name alone: If the real property is in the decedent’s name only, it will be considered separate property. You may be entitled to inherit part of it but need to go to a probate court. Skilled Chandler probate attorneys can provide legal guidance.  

Can My Spouse Disinherit Me?

Your spouse can only disinherit you if you sign away this right through a prenuptial or postnuptial agreement. The elective share laws ensure you receive a fair share of your descendent spouse’s property regardless of the provisions in the Will, revocable Trust, or other estate planning document.

What is the Probate Process in Arizona?

Arizona’s probate process varies depending on the estate size and assets involved. Most estates may be subject to one of the three probate processes:

• Informal probate: The process is simplified and requires minimal court involvement. It entails submitting the necessary documents to the court, such as the Will and a petition for informal probate. Upon approval, the court appoints a personal representative or executor to manage the estate administration.
• Formal probate: Formal probate may be necessary if there are disputes among beneficiaries, such as a contested Will. It requires several appearances before a judge before legal estate administration.
• Supervised probate: The court oversees the entire estate distribution process if there are concerns about the capability of the executor to perform their duties.

Consult skilled probate attorneys in Chandler for more legal insights into the probate process to help you prepare adequately.

A Skilled Estate Planning Lawyer Helping You Enforce Your Elective Share Rights

Navigating inheritance laws in Arizona can be complex. Elective shares for spouses can be challenging if you don’t understand the nuances. Work with experienced probate lawyers in Arizona to gain an edge during probate.

The Metropolitan Law Group has knowledgeable estate planning lawyers who can help you understand your inheritance rights after a loved one’s death. We can also help you prepare for the succession process while ensuring your rights are protected at each step. Call us at 480-405-1970 to schedule a FREE 15-minute case strategy.