Arizona Family Trust Review

An Arizona family trust is a core component of your estate plan, and can be used to hold the title to a large number of different types of property and assets. The Arizona family trust is used to hold and transfer specific types of assets to your beneficiaries. It is an effective tool for estate owners to transfer assets without the stress of probate court.

With an Arizona family trust you transfer legal ownership

The purpose of an Arizona family trust is to transfer the legal ownership of the asset to the trust. This allows the estate owner to receive the benefits of no longer personally owning the asset, of which there are many. If the estate owner does not personally own the asset, the asset will not be under dispute upon the estate owner’s death. The trust deed can still state that the estate owner can use and enjoy the asset during his or her life, and it also states the specific beneficiaries who will receive the asset.

An Arizona family trust has three people involved

Your Arizona family trust is set up to have three main people involved, the grantor (the owner of the asset), the trustee (the individual who manages the asset after the death of the grantor), and the beneficiaries (those who will receive the asset once the grantor passes away). The Arizona family trust can be structured so that the trustee is the grantor as long as the grantor is alive, and a successor trustee takes over managing the asset after the grantor passes away.

Use an Arizona family trust to organize and distribute your assets however you wish

There are several benefits to setting up a family trust for an estate. They are very flexible in how they can be structured to distribute the asset. With the wide range of different types of assets and different family situations, it makes sense for any estate owner to strong consider setting up a family trust for some of his or her assets. They can be used to distribute funds for college, living expenses, medical expenses or other types of costs gradually over time. And, every detail of the Arizona family trust is confidential and completely up to the discretion of the grantor, which offers a high level of control over the asset’s distribution.

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.