Legal Question in Wills and Trusts in Arizona

Re: Which Legal Form to Use

There are different possibilities. You should consult an attorney do decide on the details

Re: Which Legal Form to Use

The naming of guardians is usually done in your Will.

Do you intend to also have a trust for your children if both parents are deceased? Who will manage property for them in that event? At what age will they receive it? Will the Court supervise everything, or will you set up a private estate plan to make those decisions yourself? What will be the terms of their care? How will the funds be managed? Will you provide for protection for your children against their creditors? Who will manage your financial affairs if one of you is deceased, through accident or other cause, and the other is incapacitated? Do you have a health care power of attorney? A personal medical directive? Who will make your medical decisions if you are not able at the time to make your own? Would you want to be on artificial life support if in a permanent vegetative state? Terminal illness? What about other medical situations that were close but not exactly a permanent vegetative state? Will your estate have probate or are you setting up a plan to avoid that?

Would you want your children to receive all their inheritance at age 18, or be supported until a more mature age? Do you have the proper beneficiary designations on bank accounts, house, life insurance to coordinate with your estate plan? What about tax planning? Will your estate be subject to inheritance tax?

These are difficult questions for a layman to resolve, looking for a "form," but easily resolved by an estate attorney. You might consider speaking with one if you have concern or questions about these issues. You are always welcome to speak with me in a free, no obligation consultation, or speak with someone else.

Best regards.