About what assets can avoid probate in Arizona. Assets that can avoid probate in Arizona include joint tenancy, community property with right of survivorship, payable-on-death accounts, transfer-on-death registrations, and living trusts. You can bypass probate for life insurance policies and retirement accounts with designated beneficiaries, and small estates within specific value thresholds. These alternatives [...]
What is the process of probate in Arizona, and how does it work? You use probate to figure out things like debts, legal claims, and who inherits what property or assets. Arizona courts supervise this procedure to ensure that regulations are observed and equitable treatment is provided. It can be informal or formal probate, [...]
Key TakeawaysA successor trustee is essential in overseeing a trust post the original trustee’s tenure, with an obligation to act with fiduciary duty, diligence, and integrity in Arizona.We explain what triggers the successor trustee’s activation, the importance of successor trustees, how to choose a successor trustee, and common mistakes people make when assigning successor trustees.Successor [...]
Key Takeaways You need to grasp Arizona’s community property rules for how assets are split between spouses, kids, and stepkids. Establishing a will and leveraging trusts are critical to making sure your intended recipients, such as your stepchildren, get their due and to prevent intestate succession from messing things up. By keeping estate planning [...]
Key Takeaways You can create an estate plan in Arizona without a lawyer if you carefully follow state legal requirements for wills and trusts, ensuring documents are valid and enforceable. You need to collect, consolidate, and refresh all the necessary paperwork, formally state your desires, and appoint individuals to handle your estate and care [...]