Creating an Arizona revocable living trust may well be one of the few ways that you control what happens to your assets both in life and in passing, without complicating the process with a lot of legal jargon and processing. However, even if you’ve written up a revocable living trust and placed copies with the appropriate parties, situations may still arise that throw a wrench in the ease of accessing assets after your passing. And after all, the very point of creating the trust document is to avoid confusion after you’ve passed away, which will be a time of grieving for your loved ones.
For example, if you’ve created a revocable living trust Arizona because that is the state in which you live, you are not required to file it with your county of residence. This means if your trustee has the only copy, then that may well be the only copy of the document. If your trustee misplaces it or doesn’t want to share your revocable living trust Arizona with other family members, there is no other copy on file for them to access, which can create some legal wrangling. Once you’ve drafted a trust document, it is important place copies in a safe place so that your family members can access it after your passing.
You might also let a few trusted family members know that you’ve created a revocable living trust Arizona so that if you pass, then several people know this document exists and can search for it accordingly, if it is not in a place that is easily accessible for those organizing your affairs. It is also prudent to ensure that the trust is properly set-up and administered; after all, you don’t want to go through the trouble of organizing this account only to find that your assets were not properly transferred into it. Once you distribute a copy to your trustee, make sure it is a signed original and not a copy of the document, so that it is recognized as an official legal representation of what your desires were for the account beyond your death.
If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.