Legal Question in Wills and Trusts in Arizona
amend a will and avoid probabe
My parents want to amend their will to put both my sister's and my name as co-executors. Is there a particular document they should use? They also want to leave us their house but want to do it so we avoid probate. What does that entail? They live in Tucson, AZ.
3 Answers from Attorneys
Re: amend a will and avoid probabe
Dangerous to amend a will based upon a piecemeal question. Competent estate planning is an overall view of the entire estate, accomplishing goals of the owners through proper legal instruments, including avoiding probate, saving on death taxes, avoiding guardianship, structuring the timing and nature of gifts to beneficiaries, asset protection, and other goals. Have them obtain a consultation with an estate attorney to look at the whole picture. Our initial consultations are free with no obligation, but we are not in Tucson.
Re: amend a will and avoid probabe
That is not that easy. Best way to go should be to put the assets in a trust and than change the will accordingly
Re: amend a will and avoid probabe
You don't amend a Will, you make and execute a new Will or a Codicile (which functions like an amendment, or you can change other provisions and add or delete new ones, but the codicile must be executed according to the same rules and formalities as a new Will, so it is better to do a new Will). It is best to update and make a new Will that states your parents current wishes. To avoid probate of the residence, your parents can make a "beneficiary deed" which will transfer ownership of the house to you and your sister upon the passing of your parents outside of probate.