Az Living Trust Arizona Without A Will
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FAQ
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.
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.
There are basic requirements for a Trust to be created in the State of Arizona: (1) There must be a Grantor; (2) The Grantor must manifest the Intent to create a Trust; (3) There must a Trustee; (4) There must be identifiable Beneficiaries; (5) The Trustee must have duties to perform; and (6) the Sole Trustee may not ...
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.
You can set up a living trust by yourself. However, if you're not experienced, it might make more sense to get professional advice. If your estate is worth a lot, you may benefit from a living trust. The Uniform Probate Code, however, does simplify the probate process for estates without a trust in Arizona.