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Establishing a last will and testament is an essential step in preparing for the allocation of your actual and personal property in the event of your death. Arizona wills enable the testator (the creator of the will) to provide for their spouse, children, or other loved ones, and even your pets after your death. You may also want to come up with a gift or bestowment to charitable organizations using your Arizona will.
Unlike a last will and testament, living wills provide instructions should you become incapacitated and incapable of making your own medical care decisions. This document would essentially take effect, in your lifetime, while a last will and testament will not. In Arizona, living wills are generally known as advance directives.
Do I Need a Last Will and Testament in Arizona?
Even though you may not need a last will and testament, but without one, state law (called laws of intestacy) will dictate the distribution of your assets and property when you die. Sometimes the outcome may not meet your wishes, that is why it is highly suggested that you create a will. A last will and testament has a lot of purposes, but one of the benefits is that it gives the testator the option to determine who the estate executor will be. Making requirements for these decisions ahead of time gives the testator comfort knowing that their estate will be taken care of; and without a will, a court will determine who the executor of the estate will be.Estate Planning in Arizona: Nurturing Your Pets and Ensuring Your Will’s Purpose
In Arizona, along with trusts benefiting people, there’s provision for a ‘pet trust’ to care for animals alive during the settlor’s life. This trust lasts up to 21 years, ending when no living animal is covered. An Arizona last will allows for posthumous care of animals. A testator’s will serves various purposes, primarily guiding property allocation upon their death. The testator can also appoint a guardian for minor children in the last will and testament. Once the will is validated, the executor settles estate debts and allocates assets per the will’s instructions. Arizona law accommodates both informal and formal intestacy proceedings. The former allows a court-free process with court approval, while the latter is initiated when challenging the will’s validity.Intestacy: Dying Without a Will
Ability to Distribute Property Exceptions
Your Arizona will dictates the distribution of property titled in your name at death, excluding jointly held properties with survivorship rights. Community property, however, passes to the surviving spouse. Various restrictions on property distribution include:- Spousal Share: The living spouse’s estate share depends on property ownership (individual or community) and surviving family members.
- Homestead Allowance: The living spouse is entitled to an $18,000 homestead allowance. If none, the deceased’s minor and dependent children share the allowance.
- Exempt Property: The living spouse can claim up to $7,000 in household items, vehicles, and personal property. Without a living spouse, the deceased’s children divide this value.
Form a Last Will in Arizona
Here are the basic requirements for an Arizona will:- Capacity: The testator is required to be mentally sound.
- Age: The testator is required to be at least 18 years of age.
- Signature: The will needs to be signed by one of the following:
- The testator
- Another person in the testator’s name in the testator’s alert presence, by the testator’s dictation.
- Witnesses: The will is required to be signed by at least two people, who signed within an adequate time after witnessing the will being signed or the testator’s confirmation of the signatures or of the will itself.
- Beneficiaries: Arizona does not restrict to who the property can be left to in the last will.
- Writing: An Arizona will is required to be in writing for it to be authentic.
Changing Your Last Will and Testament in Arizona
You can modify an Arizona last will and testament at any time through another will or a codicil—an additional document that amends the original. Any changes must adhere to the same requirements as those for wills.Other Last Wills in Arizona
Besides the previously mentioned last will and testament, Arizona recognizes a handwritten will (‘holographic will’). This type of will, created by someone at least 18 years old and mentally sound, is valid as long as it’s signed by the testator and doesn’t require a witness.Revoking an Arizona Last Will and Testament
You can revoke an Arizona will in two ways: By completing a revocatory act on the will if the testator performs the act with this intent or if another person performs the act in the testator’s mindful presence and by the testator’s instruction. By executing a subsequent will that rescinds the previous will or part expressly or by discrepanciesA “revocatory act” can include “the burning, tearing, canceling, eradicating or destroying the will or any part of it.”
