What is a Trust?
A trust is a document that allows families to avoid probate court and control how and when a particular beneficiary might inherit.
What is a will?
A will is a document that provides instruction to the court on what your last wishes are. In most cases it requires approval and oversight from the court.
What is probate?
Probate is the legal process that takes place after a loved one passes away. The law covers a broad range of processes including: (1) Who will manage the estate (2) Identifying what assets and debts the deceased left behind, and determining which ones belong in the probate process and which do not (3) How the value of the estate’s assets, debts and taxes should be calculated (4) The process of distributing the estate’s property to creditors, heirs and beneficiaries based on the instructions that the deceased left in his or her will, if there is one, based on Arizona law
How long will probate take?
Probate in Arizona will take at least four months to a year, or possibly longer dependent upon the size of the estate.
What is a personal representative?
In Arizona, a personal representative is the person or persons nominated by the will and appointed by the court to carry out the terms of the will. You may have heard this position referred to as “executor” or “administrator.”
What legal duties does a personal representative have?
Personal representatives must ensure that Arizona law is complied with in managing the estate and distributing estate property and funds. A personal representative must take care to make sure that all of his or her actions are in the very best interest of the estate.
What is a beneficiary/devisee?
Beneficiaries and devisees are people or institutions named in a will to receive property.
What is a guardianship?
A guardianship is when a court appoints an individual to provide care and make personal decisions regarding living arrangements, social activities, and authorization or withholding of medical treatment or other care, for an incapacitated person.
What is a conservatorship?
A conservatorship is when a court appoints an individual to manage the financial affairs of a minor or incapacitated adult who is unable to manage his or her own finances.