When it comes to estate planning, there are several important documents that require the assistance of a family friend or loved one to complete the process. For instance, in the case of a living will Arizona, the person of your choosing is appointed to make medical decisions on your behalf once you are no longer able to do so. When it comes to a living trust Phoenix, AZ, the person(s) that you choose to participate in this process can serve one of two roles: the trustee or the beneficiary.

The purpose of a living trust Phoeniz, AZ is to provide with a way to re-deed your property, so that in the event of your passing, your real estate doesn’t have to go through the costly and very time-consuming probate process. While you might still have a traditional will – in fact, you should – the living trust simply allows you to manage your property through an estate planning process that accounts for what happens to it upon your passing. Many people opt to stay on as trustee of their own real estate upon designating the property under the living trust Phoenix, AZ. However, you might then ask a trusted family member or friend to serve as beneficiary on the document, which allows the person in question to gain control over the property upon your passing, doing with it whatever you deemed in your will as part of your final wishes.

Choosing such a responsible person is a big decision;  not only does it have to be someone you trust, but it has to be someone that is going to be able to stay calm and collected under what will arguably be some very difficult circumstances. Someone who might fall apart might not be your best choice, no matter how close they are to you. To be a trustee or beneficiary on your living trust Phoenix, AZ you need a person that is going to take care of business swiftly and surely. This may be a family member or friend, depending on who you have in your life that you can really trust. It is important to talk to this person ahead of designating them on your living trust Phoenix, AZ, so they have a clear idea of what they are agreeing to do and what their role will be in administering your estate after your passing.

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