Legal Question in Wills and Trusts in Arizona
I live in Arizona and wish to amend my revocable living trust aggrement. Currently I have my son and daughter listed as "trustee and successor trustee" and I would like to add a third person to share as trustee to assume the duties of Trustee of the estate. I want this provision to insure that the third person will have the power to be a tie breaker in the event that there is a dispute with the distrubution of my living trust upon the event of my death. And in the event that one of the other two assigned trustees were to die or relinquish duties of trustee of the trust estate, the remaining two surviving trustees would serve together as successor trustees of the trust.
Please tell me what Arizona form and procedure I need to accomplish this amendment to my Living trust.
Thank you,
Helen Mauzy
1 Answer from Attorneys
There is no standard Arizona form to do what you have described. Such an amendment needs to be drafted carefully and correctly, in order to achieve the goals that you have stated. More important, is that you have appointed the right person(s) to serve as successor trustee in the event that you are incapacitated and that the trustee(s) will be the one(s) to determine how your money is spent to provide for you during the remainder of your lifetime. In addition, you should be sure to have a durable healthcare power of attorney, so that you select the person who determines what medical care you receive and how you live the rest of your life, in the event that you are in an accident or suffer an illnes, where you are unable to make decisions or communicate your wishes.
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