Why Form 5495 Probate 2017-2023

I'm Peter Westby. In our firm, we talk with people many times about probate. Probate is an area of law where people have a lot of questions. One of the questions that we see over and over again is often asked by people who have been asked to serve as a personal representative under a will. They have some concerns about serving in that capacity. One of the questions they ask is, "Will I have personal responsibility for the debts of the estate?" In Arizona, the answer to that question is no. A personal representative doesn't have responsibility for estate debts. But you need to be careful because when a personal representative does business on behalf of the estate, he or she must disclose two things. First, they need to disclose that they're acting as a personal representative. And second, they must disclose the estate that they're acting on behalf of. A recent Arizona Court of Appeals case indicated that there's a problem when those disclosures are not made. The Court of Appeals ruled that if a personal representative fails to disclose his capacity and the estate, they can have personal liability for the estate debt. If you have any questions concerning the estate or probate, come in and speak with us.