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Using Small Estate Affidavits Instead of Probate in Arizona
If you have lost a loved one in Arizona, you may find yourself in the position of having to settle their estate. This may involve going through a court process known as probate, which can be lengthy and expensive. However, if the decedent had only a modest amount of assets, beneficiaries may be able to […]
What’s Involved in Administering a Decedent’s Trust?
When someone dies leaving a trust, there is an administrative process that must be followed to manage and distribute its assets in accordance with the decedent’s instructions. Administering a trust is similar to probate of an estate, as it involves notifying beneficiaries, collecting and managing assets, paying debts and taxes and managing and distributing assets. […]
What Should Be on Your Estate Planning Checklist?
Estate planning can be easy to put off as something you only need to worry about later in life. However, an estate plan is essential for everyone, regardless of age or financial status. Having a comprehensive plan in place can help ensure that your assets are distributed according to your wishes and that your loved […]
Writing a Will That Stands Up Against Challenges
A last will and testament is a fundamental part of an estate plan. Your will expresses your directions for how your property will be managed and distributed upon your death. Although a properly executed will is usually enforced, your will may be contested by heirs or other parties asserting that it is legally deficient or […]
Changing Your Power of Attorney to Meet Changed Circumstances
A power of attorney can be an important part of your estate plan. This document gives someone you trust, known as your agent, the legal authority to act on your behalf in defined situations where you’re unable to do so. But what if that person becomes unavailable or unsuitable for the role? And what if […]
How to Bring Up the Subject of Estate Planning with Your Parents
Discussing estate plans with your parents necessarily involves two subjects that are traditionally taboo among family members: death and personal finances. Also, such discussions entail a reversal of traditional roles. Parents have spent years providing care, guidance and advice to their children, but now it is the children who often must lead the parents. Although […]
Who Should Be Named the Personal Representative of Your Estate?
Choosing a personal representative for your estate is a big decision and one that should not be taken lightly. Also known as an executor, your representative will be in charge of settling your estate, ensuring that the terms of your will are carried out and distributing property to the beneficiaries you have designated. These tasks […]
How Pour-Over Wills Can Prevent Legacies from Lapses
A pour-over will is the same as any other last will and testament. But there is one major difference — this type of will “pours” your property into a trust that you’ve set up in advance. Upon your death, the assets are distributed to your intended beneficiaries through the trust, not through probate. The usual […]
How to Avoid Probate of Your Estate
Probate is the court process by which property is distributed upon your death, either by will or under state intestacy law. Since probate proceedings can be lengthy and costly for surviving family members, you may wish to take steps to avoid it. In Arizona, there are a few ways you can cause property and assets […]
Dying Without a Will Could Create Problems
Many people assume that they don’t need a will if they have a small estate and/or straightforward intentions regarding the distribution of their assets. They believe that Arizona’s succession laws will distribute assets in more or less the same manner as they would if they wrote a will, so why go through the trouble? Alternatively, […]
