Question 1

What is a Revocable Living Trust and how does it work?

Accepted Answer

A Revocable Living Trust is a legal arrangement where you transfer ownership of your assets into a trust during your lifetime. You serve as both the trustee and beneficiary, maintaining full control of your assets. When you pass away, a successor trustee distributes the assets to your beneficiaries according to your instructions, without the need for probate court.

Question 2

Why is funding your trust so important?

Accepted Answer

An unfunded trust provides no probate protection because the trust only controls assets it actually holds. If your house, bank accounts, or investments are not titled in the trust, the trust has no authority over them. Proper funding is one of the most critical and most commonly skipped steps in the trust process.

Question 3

What is the difference between a Last Will and a Living Trust?

Accepted Answer

A Last Will is a legal document that outlines how your assets should be distributed after your death and must go through probate court. A Living Trust holds your assets during your lifetime and transfers them directly to your beneficiaries when you pass, avoiding probate entirely. Many Arizona families use both documents together as part of a comprehensive estate plan.

Question 4

How much does estate planning cost in Arizona?

Accepted Answer

The cost of estate planning in Arizona varies based on the complexity of your situation and the documents you need. A basic will package is typically less expensive than a comprehensive trust-based plan.

Question 5

Can I avoid probate in Arizona?

Accepted Answer

Yes. There are several ways to avoid probate in Arizona, including creating a Revocable Living Trust, using beneficiary designations on accounts, holding property in joint tenancy, or using Arizona's Small Estate Affidavit process for estates under $200,000 in personal property or $300,000 in real property (updated under HB 2116, effective September 2025). A comprehensive estate plan typically combines several of these strategies. A properly funded living trust remains the most reliable method because it avoids probate entirely regardless of estate size.

Question 6

Can I change or cancel my Living Trust after it is created?

Accepted Answer

Yes. A Revocable Living Trust can be amended or revoked at any time as long as you are mentally competent. You can add or remove assets, change beneficiaries, or modify any terms. This flexibility is one of the key advantages of a revocable trust over an irrevocable trust.

Question 7

What documents are included in a basic estate plan?

Accepted Answer

A basic estate plan in Arizona typically includes a Last Will or Living Trust, a Financial Power of Attorney, a Healthcare Power of Attorney, a Living Will (Advance Directive), and sometimes a Pour-Over Will if a trust is involved. Additional documents like HIPAA authorizations and beneficiary designation reviews may also be included depending on your needs.

Question 8

How long does it take to set up a trust with RJP?

Accepted Answer

Setting up a trust with RJP typically takes four to five weeks from start to finish. The process involves three meetings: an initial consultation where we gather your information and discuss your goals, an attorney meeting where a licensed Arizona attorney reviews your plan and answers legal questions, and a funding and delivery meeting where you sign your documents and we begin transferring assets into your trust. What you prepare before your first meeting and how quickly you make decisions about beneficiaries and trustees can speed up or slow down the timeline.

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