Your Will Is Not Frozen in Time
A common concern people have is whether assets they acquire after signing a will are automatically covered. The answer under Arizona law is yes. A will can provide for the passage of all property the person owns at death, regardless of when it was acquired.
A will may provide for the passage of all property the testator owns at death and all property acquired by the estate after the testator's death.
A.R.S. § 14-2602This means if you sign a will today and later purchase a new home, open a new investment account, or receive an inheritance, those assets can still pass under the terms of your existing will. You do not necessarily need to rewrite your will every time your asset picture changes.
Property Acquired After Death
This statute also addresses something many people do not consider: property the estate itself acquires after death. This can include final paychecks, tax refunds, insurance payouts, or proceeds from a pending lawsuit. The will can direct where those assets go as well.
While this statute provides broad coverage, it does not replace the need for regular reviews. A will that says "everything to my spouse" covers after-acquired property, but a will that makes specific gifts of specific assets may leave newer property in an unintended place. Periodic reviews with experienced estate planning counsel help make sure the language in your will still reflects your actual wishes as your life and finances evolve.
