When it comes time to sit down and truly consider the future, it’s time to talk to us. An Arizona living trust is the single greatest way to protect your assets and financial resources for your family in the event of a tragedy. A living trust is peace of mind, security, knowledge that through all the unknowns that come with tragedies, this is the one thing that you can count on.
What is an Arizona Living Trust?
Technically speaking, a living trust in Phoenix, or anywhere in the valley, is a legal document that is drawn up while parties are still alive as a way to disperse an individuals’ assets once he or she has died. I know, it sounds a bit morbid, but the reality of the situation is a bit grim. With this legal document, when drawn up properly and precisely by a legal professional, you can rest assured that your assets will be dispersed exactly as you have chosen and your family will avoid probate court.
What is a Living Trust Trustee?
A trustee is chosen to administer the assets within the trust. For example, you may choose a family member, partner, close friend, or perhaps your legal representative to become the trustee. This person has complete control of all property mentioned in the living trust until such time when the property is handed to the beneficiary. When choosing a trustee, be incredibly mindful of the consequences of picking the wrong person.
What is a Beneficiary?
The beneficiary is the individual who will receive the assets mentioned in the living trust in Phoenix, Gilbert, or any other part of the valley. There can be many beneficiaries, or just one. A beneficiary can be a family member, a friend, an employee, a charitable organization, even an animal. You can name anyone, any company, or any organization as a beneficiary.
Can I Change the Beneficiary and/or Trustee Later?
Yes, we recognize that there are extenuating circumstances where a death in the family might occur, or a falling-out might occur, where the trustee and/or the beneficiary named in your living trust must be changed. Simply contact me and we will get it sorted out and the newly named individual will legally become the new trustee and/or beneficiary.
Why Do I Need a Living Trust?
An Arizona living trust is a crucial document to have in the unfortunate event of a family death. Without a living trust, all assets are left to the state to decide upon dispersement. Without a living trust, your family could end up in probate court for years attempting to claim the rights to your assets and property. Arizona probate court is not only incredibly time consuming, sometimes lasting three to five years, but can also be expensive. Costs can range between 4 and 10 percent of the State’s gross, taken out before debts are paid. During probate all assets are frozen, and should your family need financial help in any situation, they will be left empty-handed.
For more information or to make an appointment give me a call directly at
AZ Phone: 480.266.4025
CA Phone: 619.542.7771
3055 E Waterman Way
Gilbert, AZ 85297
4025 Camino Del Rio South
San Diego, CA 92108