When navigating the probate process in Marana, most people think of homes, cars, or valuables that can be physically touched. But a major part of many estates includes intangible assets—things you can’t hold in your hand, but that still carry real value.
What Are Intangible Assets?
Intangible assets are non-physical items that can have monetary or legal value. Common examples include:
- Bank and Investment Accounts
- Stocks and Bonds
- Retirement Accounts (IRAs, 401(k)s)
- Life Insurance Policies
- Digital Assets (such as cryptocurrency, online businesses, or domain names)
- Royalties, Trademarks, or Patents
These assets often fly under the radar but can make up a significant portion of an estate’s value.
How Are Intangible Assets Handled in Marana Probate?
In Arizona, intangible assets are part of the probate estate unless they are set up to pass directly to a beneficiary. Here’s a simplified breakdown of how they’re handled:
1. Identifying and Valuing Assets
The personal representative (executor) must locate all intangible assets and determine their value at the time of death. This might include checking bank balances, investment portfolio values, or reviewing digital accounts.
2. Verifying Ownership
Proper documentation is critical. This could include account numbers, login credentials, or ownership certificates for things like stocks or intellectual property.
3. Distributing to Beneficiaries
Some intangible assets—like life insurance or retirement accounts—may pass directly to named beneficiaries. Others, such as investment accounts or digital currency, may require probate court approval before they can be transferred.
4. Considering Tax Implications
Some intangible assets may carry tax consequences. For example, distributions from a traditional IRA could be taxable to the heirs. It’s important to consult with an estate attorney or tax advisor.
Why Intangible Assets Matter in Marana
Marana is home to many retirees, business owners, and investors. This means it’s common for estates to include everything from IRAs to digital assets. Failing to properly handle these items can delay the probate process and lead to confusion among heirs.
Having a team that understands the local probate process—especially when real estate and intangible assets are involved—is essential.
Need Help Navigating Probate in Marana?
As a local Realtor with experience in probate sales, I can help you manage the real estate portion of an estate while connecting you with trusted professionals for everything else.
📞 Ryan Comstock
📍 Marana Probate Realtor
📱 (520) 261-4669
🌐 www.ryancomstock.com