Arizona Living Trust With Will
Description
How to fill out Arizona Revocation Of Living Trust?
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FAQ
Using a will instead of a trust can be a simpler option for certain individuals in Arizona. Wills are often easier to set up and less expensive initially, making them accessible for straightforward estate planning. An Arizona living trust with will combines the advantages of both methods, allowing for easy distribution of any assets not included in the trust. This dual approach ensures that your entire estate is managed according to your wishes.
To create a living trust in Arizona you need to create a trust document that lays out all the details of your trust and names the trustee and beneficiaries. You will sign the document in front of a notary. To complete the process, you fund the trust by transferring the ownership of assets to the trust entity.
The difference between an Arizona living trust vs. will is that a will must go through probate (a court-supervised process that legally transfers assets after the owner dies) and a living trust doesn't.
In the state of Arizona, you are not required by law to have a trust or will in place. However, this does not mean that it is not necessary to have these estate planning documents in order to protect your assets and make sure your wishes are carried out after your death.
Well if you are concerned with privacy or what should happen to your affairs should you be incapable of looking after them while still alive, a trust may be for you. If you also have assets that are both the limits for probate in Arizona a trust, when probably funded, will help you avoid probate all together.