Estate Planning, Tax Planning, Trusts and Wills
Arizona
Lawyer
Serving
Oro Valley
Tucson
Marana
    

     









    (520)742-0013
      
  WILL
A Will is simply a document that expresses the wishes of a person on the distribution of their property when they pass. Arizona requires, by law, that a formal will be made by a competent person (at least 18 years of age and with the proper mental capacity) in writing and signed by two witnesses. Additional elements such as notarizing are not required but are very helpful in protecting the Will against claims it is invalid. NOTE: Oral Wills are not valid in Arizona.
      
  HOLOGRAPHIC WILL
If a person wishes to avoid the formalities of the standard Will a holographic Will can be used. This type does not require witnessing or notarizing. However, the material provisions (such as who gets what using specific information) must be written by the individual in his or her own handwriting and signed by them. If portions of the Will are typed it may not meet the requirements of “material provisions” and may not be valid. This is a common problem with Will Kits. The handwriting will also have to be authenticated if someone later argues the Will is invalid.
      
  LIVING WILL
This is a document that states a person’s intent not to receive certain medical treatment. Generally the person must be terminally ill and unable to communicate at the time the treatment is withheld for the Living Will to be effective to relieve medical personnel from liability. The Living Will must meet the same formalities as a Will (i.e. it must be signed and witnessed). Living Wills can usually be tailored somewhat to meet each individuals wishes in relation to health care.
   
  TRUSTS
Generally trusts are a way of holding property for a beneficiary. There is a donor of property to a trust, a trustee who maintains the trust and one or more beneficiaries. Trusts can take numerous forms and can be used for a variety of purposes from providing support to a loved one to aiding in avoiding taxes on very large estates.
   
  LIVING TRUSTS
Also called inter vivos trusts. This is a type of trust that is used as a tool to pass property at death without having to go through probate. Property of an individual is put into the trust by transfer of title and then distributed directly to the beneficiaries after the individual’s death. Because Living Trusts are more complex than Wills the cost of creating them can be much greater. It is important for each individual to balance the cost of a living trust versus the benefits of avoiding probate. Avoiding probate fees alone may not be enough to defray the costs. See “Links” for a list of probate fees in Pima County Probate Court.
   

 

 

         
site last updated 02/26/2008
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(520)742-0013