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.
Rule 49 allows full discovery of important facts to avoid “litigation by ambush.” The Rule promotes greater professionalism among counsel, with the ultimate goal of increasing voluntary cooperation and exchange of information.
In Arizona, there is no legal requirement to record a trust with any government agency or public record office. Unlike real estate deeds or mortgages, trusts are private documents and are not typically recorded in public records.
To establish an Arizona trust, certain prerequisites must be met: Clear intent by the settlor to create a trust. Designation of a trustee, who acts as the steward of trust assets and fulfills fiduciary responsibilities towards its beneficiaries. Identification of at least one beneficiary to receive trust assets.
Selecting the wrong trustee is easily the biggest blunder parents can make when setting up a trust fund. As estate planning attorneys, we've seen first-hand how this critical error undermines so many parents' good intentions.
It's important to be thorough in this process, as any assets not properly transferred to the trust may still have to go through probate. Finally, you'll need to sign the trust document in the presence of a notary public to make it official.
To create a beneficiary deed in Arizona, the deed must include the legal description of the property, the name of the beneficiary, and your signature. The deed must also be notarized and recorded in the county where the property is located. If these steps are not followed, the deed may not be legally valid.
Once you create a beneficiary deed, it needs to be recorded with the county recorder in the county where the property is located. Upon death, the death certificate of the deceased must be recorded with the same county recorder.
You must sign the deed and get your signature notarized, and then record (file) the deed with the recorder's office before your death. Otherwise, it won't be valid. You can make an Arizona beneficiary deed with WillMaker.
First, search by your address or parcel number to locate your property. The current deed will be located under the "Deed Number" under the section "Owner Information". Once you locate your document, you may view an unofficial copy online. Select the colored box under the section "Pages" to view your document.