I Don’t Have a Will, What Could Go Wrong

Phoenix estate planning is an important consideration for anyone, but particularly for those who are married and who have families. If you have not considered Phoenix estate planning and don’t have a will, there is plenty that can go wrong.

What happens when you don’t have a will

If you have not set up a will before you die, you will have died “intestate” which means that you will have passed away without having a will in place. This can be a very difficult legal situation that your family will have to deal with, and the intestate laws of Arizona will be used to determine who should inherit your property and assets.

How Arizona will transfer your property

If you pass away without having a will, the state will basically create a will for you. Arizona is a community property state so in many cases all of your property and assets would go to your surviving spouse, unless you have descendants that are not from your surviving spouse. If this is not what you want for your Phoenix estate planning it can create a difficult scenario for your family.

Spend the time to think about how you want to set up your Phoenix estate planning

You might want to leave some of your descendants a portion of your estate instead of your spouse, but if you don’t have a will in place this is not what will happen in the state of Arizona. You need to spend the time to think how you want to set up your Phoenix estate planning so that your exact intentions are met with your estate.

Use Phoenix estate planning to distribute your estate exactly as you want

With the proper Phoenix estate planning your estate will be distributed how you want it, and the state of Arizona will have no say in how it should be divided. You may need to set up revocable trusts as a part of your Phoenix estate planning to transfer some of your assets outside of probate court. You can speak with a Phoenix estate planning professional to get more information on how to set these types of trusts up, and also for information on how you should arrange your will.

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 planning needs. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.