What are Intangible Assets and How Are They Handled in Oro Valley Probate?
When handling a probate case in Oro Valley, many people focus on homes, vehicles, or personal possessions. But some of the most valuable parts of an estate are intangible assets—items that can’t be physically touched, yet hold significant value.
What Are Intangible Assets?
Intangible assets are non-physical property with financial or legal worth. These may include:
- Checking and Savings Accounts
- Stocks, Bonds, and Mutual Funds
- Retirement Accounts (401(k)s, IRAs)
- Life Insurance Policies
- Digital Assets (cryptocurrency, online storefronts, digital content)
- Intellectual Property (trademarks, copyrights, patents)
- Royalties or Licensing Agreements
These assets can be easy to overlook but often make up a large portion of an estate.
How Are Intangible Assets Handled in Oro Valley Probate?
In Arizona, intangible assets must go through probate unless a legal structure allows them to transfer automatically to a named beneficiary. Here’s how they’re typically addressed:
1. Discovery and Valuation
The personal representative (executor) of the estate must identify and appraise each intangible asset. That means locating financial accounts, digital platforms, or intellectual property and determining their fair market value.
2. Verification of Ownership
Assets must be tied to the deceased with documentation—account statements, login credentials, or legal agreements.
3. Transfer of Ownership
Some assets, such as life insurance or retirement accounts with named beneficiaries, pass directly outside of probate. Others—like investment portfolios or business interests—require court approval to distribute.
4. Tax Considerations
Certain intangible assets may have tax consequences for the estate or heirs. A probate attorney or tax advisor can help guide this process to avoid unnecessary liabilities.
Why Intangible Assets Matter in Oro Valley
Oro Valley is home to retirees, professionals, and entrepreneurs—meaning estates often include a mix of traditional and digital intangible assets. Overlooking or mishandling these can create costly delays during probate.
Having an experienced real estate professional and a team familiar with the local probate process makes all the difference.
Need Help Navigating Probate in Oro Valley?
As a Realtor who understands the unique needs of probate clients in Oro Valley, I can help with selling estate property and connecting you with reliable resources to handle the rest.
📞 Ryan Comstock
📍 Oro Valley Probate Realtor
📱 (520) 261-4669
🌐 www.ryancomstock.com