If you believe you may have a case, you should file within two years of the fatal incident. If you don't meet the two-year deadline, you probably won't have your claim heard in court. Because you have likely incurred expenses as a result of the fatal incident, it's best to file as soon as possible. It can be difficult to deal with payments such as mortgages, rent, or other large expenses in the interim, and you should consult with a financial expert, if possible.
As with any legal proceeding, wrongful fatality suits can take a long time to settle. There are a lot of factors that can increase the amount of time it takes to receive your compensation. In Arizona, most cases take between one year and four years.
Of course, not all cases are settled. This is why it's important to obtain an expert legal opinion on whether you should accept any compensation offered. Sometimes, it may be wiser to proceed through the legal system.