Do I need a Will in Arizona?
A Will provides for the distribution of property owned by you at the time of your death in any manner you choose. Your Will can also act to nominate who you choose to administer your estate and who will take care of your minor children. When a person dies without leaving a Will, the laws of Arizona provide for the disposition of property according to a very specific formula. Without a Will, you have no say in the disposition of your property.
Arizona Life Care Planning – Advance Directives, Health Care Directives and Living Wills.
Life Care Planning documents are your written expression of how you want to be treated in certain medical conditions, such as treatments to be used to prolong your life for a limited period of time. By taking the proper steps now, you can ensure that your wishes are known if you are unable to communicate for yourself.
A trust is an estate planning tool that provides management of an individual’s assets during, or after one’s lifetime and directs distribution upon death. If properly done, a trust can eliminate the need for probate and reduce or eliminate estate taxes. Trusts are not only for the wealthy, but neither are they for everyone.
What is Probate in Arizona?
Arizona Probate is a legal proceeding by which a deceased person’s property is distributed to heirs designated by law or by a Will. A probate typically involves the appointment of a personal representative, who, after payment of the deceased’s debts, taxes and administrative expenses, distributes the deceased’s property to the heirs or beneficiaries entitled to it.