Legal Question in Wills and Trusts in Arizona

Re: Trust will

Thank you for your inquiry. Your question is a bit unclear, but I'll do my best to answer it.

There are many kinds of trusts, but in simplest terms, a trust can be created in two ways.

The first is an INTER VIVOS TRUST, also known as a LIVING TRUST. This is a document created during your lifetime to manage your assets during your life, and to divide them upon your death. Assets held in a living trust do not pass through probate.

The second is called a TESTAMENTARY TRUST. This means that you have a will, and when the will becomes effective (upon your death), the will creates a trust to manage your property. This is commonly used by parents of minor children (so the assets for the kids can be held in trust until they are old enough to control them).

If you have additional questions or would like to discuss other estate planning documents, please contact me. I can be reached at (480) 792-9770 or [email protected].

Sincerely,

Monica Donaldson