Probate is the term that describes a court proceeding in which the court appoints a personal representative of the estate of a deceased person. The personal representative is responsible for “wrapping up” the decedent’s final affairs by performing the following functions:
- Inventorying and valuing all of the assets owned by the decedent.
- Paying all the legitimate claims of the decedent’s creditors and and paying all expenses related to administering the decedent’s estate.
- Preparing, filing, and paying all of the decedent’s final tax returns and all of the estate’s tax returns.
- Distributing the decedent’s assets to those persons entitled to receive the assets in accordance with the provisions of the decedent’s Will or in accordance with Arizona law for those decedents dying without a Will.