Wills
questions & answers
Question: My father recently passed and I completing an affidavit of small estate. Do I need to include a motor vehicle that was jointly owned by the decedent and myself? Do I need to include a life insurance policy that has a stated beneficiary? Do I need to include stock purchases that have a stated beneficiary?
Answer: The answer to your question falls under Title 14 of the Arizona Revised Statutes, the Arizona Probate Code. Generally, life insurance proceeds with a stated beneficiary are considered nontestamentary assets and do not need to be included in a probate (A.R.S. section 14-6101). According to the DMV, a joint title to a vehicle means you, as the second person on the title, own the vehicle. However, when you sell the vehicle, you will need a death certificate for your father. (See: DMV website). 14-6101 also covers also describes transfer of certificated or uncertificated securities with a designated beneficiary as being nontestamentary (outside probate).
QUESTIONS
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My father recently passed and I completing an affidavit of small estate. Do I need to include a motor vehicle that was jointly owned by the decedent and myself? Do I need to include a life insurance policy that has a stated beneficiary? Do I need to include stock purchases that have a stated beneficiary?
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