Legal Question in Real Estate Law in Arizona
Homesteading
We presently own a home in NV which is up for sale,we plan on retiring to AZ where we currently own 4 lots one of which we plan on building on, as we now own our home outright we were thinking of homesteading all the properties. Can they be homesteaded as one unit or do we have to homestead each piece of property? We do not have an estate plan and are now thinking of a living trust, we really need advice on the pro's and con's of homesteading and living trusts and the best way to protect our assets.Help!
2 Answers from Attorneys
Re: Homesteading
I do not know AZ Law, but, generally, you can only homestead one residence at a time. It sounds like you very much need estate planning. Let me know if you need a referral.
JOEL SELIK
Attorney at Law
800-894-2889
760-479-1515
702-243-1930
Licensed to Practice Law in California and Nevada Only
CONCENTRATING IN REAL ESTATE, ELDER ABUSE, LITIGATION AND COLLECTIONS
Personal Injury, Contracts, Tax Matters, Business,
Malpractice, Appeals, Elder Neglect/Abuse/Nursing Home Malpractice
Real Estate, and Other Legal Matters
This is just general information. No representations are made and no attorney client relationship is established by this communication. In most matters there are strict time limitations within which actions may be taken or your rights will be compromised. We are not taking any action on your matter and will not be considered your attorney or tax representative until both you and we have signed a fee agreement.
We, therefore will take no action on your behalf unless a written retainer agreement is signed. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you do not retain SELIKLAW, you should immediately seek the services of another attorney or other advisor.
If you send a lawyer or law firm email, your email will not create an attorney-client relationship and will not necessarily be treated as privileged or confidential. You should not send sensitive or confidential information via email. The lawyer or law firm to whom you are writing may not choose to accept you as a client. Moreover, as the Internet is not necessarily a secure environment it is possible that your email sent via the Internet might be intercepted and read by third parties.
Re: Homesteading
Homesteading is for the residence you live in only. You should put all your property in a revocable living trust to avoid probate in both Arizona and Nevada.