Trust and Probate Record Keeping

Last week we discussed record keeping for conservatorship matters. The rules are similar, but somewhat different, for trust and probate record keeping.

Generally, accounting requirements for trusts and probate proceedings are somewhat easier to handle (at least in Arizona). But simpler accounting does not necessarily mean that record keeping is simpler. A trustee or a personal representative should assume they will have to file or distribute a detailed accounting, just like the ones ordinarily required for conservatorships.

One important rule is the same for both conservatorship and trust and probate records: maintain detailed and careful logs of the time spent working on the estate. Even if you ultimately decide not to charge a fee, you need to have kept excellent time records.

Join us for a discussion of the trust and probate record keeping requirements under Arizona law.