Arizona Living Trust FAQ

When it comes to estate planning, there are a number of potential tools in your arsenal that are available to help make the process easier for your estate upon your passing. From a will to even a living will to an AZ living trust, each tool is designed to not only make the process easier for your planning purposes, as well as for your family and friends upon your passing.

However, before you determine which are best for you, consider a few frequently asked questions about an AZ living trust to ensure whether or not this is a good option for you:

What is a living trust?

A living trust is a method by which a person can hold property for another person or an individual can title property in a certain way and be the own trustee of the trust arrangement. The primary reason for creating an Arizona living trust is to help the estate avoid probate upon the passing of the owner. This is different from a will as a will simply determine what you would want to happen to your assets upon your death, which can lead to a time-consuming and sometimes expensive process called probate.

Should I still have a will if I have an Arizona living trust?

You should always have a will, even if you have a living trust. A will covers aspects of your estate that may not be covered by a living trust. For instance, you can cover issues of guardianship if you have children, the way in which you want your assets distributed that are not major and what decisions you want made about other aspects of your estate. An Arizona living trust is more specific to property.

What is the best way to make an Arizona living trust?

The best way to do so is to work with an attorney that specializes in these types of arrangements. You start by creating the trust document and determine what the property is and the person you plan to name as a trustee. Then, it is important to sign this document in front of a notary and then transfer property into the trust account.

You can plan this as much in advance as you would like in order to ensure that your estate planning process is as complete as possible. An Arizona living trust provides peace of mind for your loved ones should something happen expectedly or unexpectedly.

Need Help?

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.