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Probate, Trust & Conservatorship

Are you a Personal Representative, Trustee or Conservator?

PROBATE manages the assets of a deceased individual.
 
TRUSTEE manages the assets of a trust.

CONSERVATORSHIP manages the assets of a ward or protected person.

Each of these roles has a fiduciary responsibility for managing and dispensing assets, including real estate. Sale of property held in probate, trust, or conservatorship is more complex than selling personally held property, and attention to detail is critical. There are legal deadlines to meet, probate specific documentation, and Court oversight must be adhered to throughout the marketing, negotiation and escrow periods.

Having our Team at your side simplifies this process. You can focus on your other responsibilities knowing that the sale of the property is being handled by a trusted specialist in probate, trust and conservatorship property sales.Our experts will ensure that nothing falls through the cracks and that the sale is handled in the best interests of the estate.Small print: You don’t need to be a licensed fiduciary to serve as a Personal Representative, Trustee, or Conservator. However, non-licensed fiduciaries must complete training prescribed by the Arizona Supreme Court. 

Probate:

Probate is a legal process that takes place after someone dies. It is a court supervised process that transfers legal title of property from the estate of the person who has died (the "decedent") to his or her beneficiaries. The court appoints a Personal Representative to manage the assets of the decedent. The Personal Representative typically has to fill out court forms

  • Prove to the Court that the Will is valid,
  • Identify and inventory the decedent's property, and have that property appraised,
  • Pay debts and taxes, and
  • Distribute the remaining property according to the terms of the Will or to the decedent's heirs.

Managing the assets usually includes selling real property. Now is not the time to hire a traditional real estate agent. As experts in probate real estate, you can count on us to expedite the sale of the property for the highest possible price and the least complications for you.

For more information and tools that will assist you in your fiduciary role, visit our Tool menu. Learn more about selling probate property by requesting our Probate Sales Kit.


Trustee:

trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries. Fiduciary duties for Arizona trustees include preserving trust funds, complying with state and federal law, and transferring assets to trust beneficiaries in accordance with the terms of the trust.  To fulfill a trust’s terms, trustees have a range of powers to choose from, including:

  • Investing prudently.
  • Buying and selling assets.
  • Purchasing insurance.
  • Making reasonable repairs to trust property.
  • Distributing payments to trust beneficiaries.

Trust assets often include real estate. When it’s time to sell real estate held in trust call on the Professionals!


Conservatorship:

conservatorship is where a judge appoints a responsible person or organization (called the “conservator”) to care for another adult (called the “conservatee”) who cannot care for himself or herself or manage his or her own assets. Throughout the conservatorship, the conservator is required to file an annual account with the court that provides an account of the protected person's finances.

Managing the assets may require selling real estate. When it’s time to sell real estate held in conservatorship, go to the experienced Realtors®, Nanette Ford and Colleen Luckey.

Click here to for a Guide to Guardianship and Conservatorship from the State Bar of Arizona.

Click here for Arizona Supreme Court Conservatorship Account forms.

 

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