What are the steps of creating a will? What’s the process? We almost never recommend you prepare just a will. I’m always recommending you prepare a living trust on top of it because it’s no more complicated. In Arizona, it helps you avoid the probate system. But if you just have a will and you’re…
What are the basic types of wills? There are really only maybe two or three different types. There’s the standard typed-out will that says, “Last Will and Testament of so-and-so. I revoke all prior wills that I’ve made.” Typed out, and then you sign it to witnesses, and you should add a self-proving affidavit. That’s…
What are the common questions you should ask when you’re preparing a will? Also, what are some of the common questions that I get asked when people are preparing their will? You want to know the answer to both of all of these. If you’re preparing your will, you want to ask questions like, how…
Is a trust better than a will in Arizona? It depends on what you want to set up your estate to do. Arizona has a very aggressive probate system. What I mean by that is the system itself – The courthouse, the court-acquainted attorneys, the Guardians Ad Litem, and all of the professionals that…
If you’re thinking about creating a trust, you might be wondering – how long can it last? How many years can a trust last in Arizona? This is something that goes way back in time, to the beginning of trusts when they were first invented in English common law. There were some sneaky guys…
How does a living trust actually work in Arizona? Well, there’s kind of three big stages if you think about how it’s going to work. First stage is putting it all together. You’ve got to have it done. You’ve got to create the documents, get everything funded in there, and you’ve got to have that…
Does the money you get from a trust count as income to you? You know, mom and dad passed away, and you’re gonna be taxed on that. Think about this. You work at a job, and you get your paycheck, right? That’s taxable income under federal law and under state law, and you’re going…
How much can you inherit in Arizona and pay zero, big fat zero in taxes? Would you like to know? It’s not a big secret. Arizona doesn’t impose estate taxes. They don’t have a tax on the estate, but the federal government does. It’s about $12 million, if you’re under $12 million, you won’t…
Is a will enough to avoid probate in Arizona? No. This is when I get asked all the time, and the answer is no. Do you need me to do a longer video than that? The answer is no; if you have a will, you must go to probate. Here’s what happens when somebody…
What has to be done before you file for probate? There’s a lot of things I’m gonna focus on, the kind of probate that happens after somebody passes away when you lose someone. First and foremost, deal with the ceremony and deal with the funeral. Whatever you’re gonna do, the cremation deals with that…