Legal Question in Wills and Trusts in Arizona

Re: Can you tell me anything about insurable interest?

Thank you for your inquiry. Please note that the "title" of your inquiry does not quite match the subject of your question.

For purposes of my response, you are the "creditor" and your deceased friend is the "decedent" or the "debtor."

In many cases, the creditor can file a claim against the decedent's estate in the probate. If the person administering the decedent's estate is aware of the debt to you, you should receive notice of the filing of the probate. You can also find out from the court if a probate has been filed.

The time frames are sensitive; a creditor must assert his/her claim within 4 months of the first publication of the notice of the probate, or the claim will be foreclosed.

If a probate is not opened within 45 days after the death of the debtor, a creditor can petition the court to be named as the personal representative to open the probate and administer the estate.

I hope this information is helpful. If I can be of further assistance, please do not hesitate to contact me. I can be reached at (480) 792-9770.

Monica H. Donaldson, Esq.