Question 1

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 2

Do I need a will if I already have a Living Trust?

Accepted Answer

Yes. Even with a Living Trust, you should have a Pour-Over Will. This type of will acts as a safety net, directing any assets not already in your trust to be transferred into it after your passing. Without a Pour-Over Will, assets left outside your trust may have to go through Arizona probate court.

Question 3

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 4

What happens if I die without a will in Arizona?

Accepted Answer

If you die without a will in Arizona, your assets are distributed according to Arizona intestacy laws. The court decides who receives your property based on a set formula prioritizing your spouse, children, and other relatives. You have no say in who receives what, and the probate process can take longer and cost more than if you had a will in place.

Question 5

How is a trust different from a will in terms of privacy?

Accepted Answer

A will becomes a public record once it enters probate, meaning anyone can access the details of your estate. A trust remains private because it does not go through probate court. Your assets, beneficiaries, and distribution instructions stay confidential. For families who value privacy, this is often a significant factor in choosing a trust-based plan.

Wills vs. Trusts: Which Option Fits Your Family?

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