Arizona Wills, Trusts & Estate Planning

Arizona estate planning attorneys Richard Keyt and Abigail Neal provide this library of information to help people learn about Arizona Wills, Trusts and Estate Planning and why a comprehensive estate plan is critically important to protect your most valuable asset, your family.

Richard is a member of WealthCounsel and a charter member of the WealthCounsel Advisors, two organizations whose purpose is to assist estate planning advisers to stay up to date and educated about the constantly changing law of estate planning.

The articles on this website are described below and organized by topics.

• Contents & Costs of an Estate Plan
• Arizona Probate
• Wills
• Death & Disability Planning
• Trust Basics
• Special Trusts
• Estate Tax
• Special Considerations
• Transferring Property
• Estate Planning Mistakes
• How Do I…?
• Estate Planning FAQs
• Protect Your Family
• NFA Gun Trusts
• Glossary

Contents & Costs of an Estate Plan

• What is contained in our four types of estate plans and the costs for each plan – KEYTLaw offers 4 low cost options so you can protect your family without blowing your budget.

• Estate Plan Comparison Chart

Arizona Probate

• What is an Arizona Probate & When Is It Required? – How to conduct an inventory of the assets of a deceased person and how to analyze the title to each asset to determine if a probate will be required to obtain assets payable to the estate and transfer the estate’s assets to the heirs of the deceased.

• How to Do an Arizona Probate – How to open an Arizona probate.  The priority of appointment of the personal representative.  Notice requirements and a general overview of the Arizona probate process.

• Arizona Probate Law: FAQs – Answers to Arizona probate law frequently asked questions.

• Personal Representative’s Duties – A short list of some of the duties imposed on personal representatives by Arizona’s probate law.  Be sure to read this article if you are considering a do-it-yourself probate because it describes just some of the fiduciary duties of the personal representative and why the personal representative is liable for breaches of the statutory duties.

• Pros & Cons of a Do-It-Yourself Probate or Hiring an Arizona Probate Attorney – Why you always should hire an experienced Arizona probate attorney for an Arizona probate.

• How to Hire an Arizona Probate Attorney – Follow the three easy steps to hire Arizona probate attorneys Richard Keyt and Abigail Neal to do an Arizona probate.

• Arizona Probate Engagement Agreement – Complete this online agreement to hire Arizona probate attorneys Richard Keyt and Abigail Neal to represent a personal representative in an Arizona probate.

• Use a Special Administrator to Find & Collect Assets of the Deceased Arizona Resident – How to use the power of the Arizona probate court when a probate has not be opened to collect and manage the assets of a deceased Arizona resident, to preserve the assets, to account therefor and to deliver the assets to the future personal representative of the estate.

• Arizona Special Administrator Engagement Agreement – Complete this online agreement to hire Arizona special administrator attorneys Richard Keyt and Abigail Neal to get a person appointed as the special administrator of the estate of a deceased Arizona resident.

• Small Estate Probate Exemption: Personal Property – This article explains Arizona’s small estate probate exemption that allows heirs to avoid probate when the estate consists of less than $50,000 of personal property.

• Small Estate Probate Exemption: Real Property – This article explains Arizona’s small estate probate exemption that allows heirs to avoid probate when the estate consists of less than $75,000 of real property.

• Who Inherits Assets of an Arizona Resident Who Dies without a Will? - When an Arizona resident dies without a Will and his or her estate has any assets, the State of Arizona’s law of intestate succession will determine who inherits the property, not the deceased.

• Arizona Probate Code Definitions – Many terms used in the Arizona Probate Code are defined by Arizona probate law.  When in doubt about the meaning of a term, look up the meaning here.

• After Death Checklist – Although this checklist is written for a successor trustee who becomes trustee after a death, much of it applies to a surviving spouse or other family member when the deceased did not have a trust.

Wills

• What is a Will? – You probably know that a Will is a document where you name who gets your property after your death.  Do you know the other important functions a Will serves?  How about what happens if you don’t have a Will?
  

• For a Will to be Valid, What Does Arizona Law Require? – Every state has different rules when it comes to estate planning.  If you’re going to create an Arizona Will, you should know what Arizona law requires for the Will to be valid. 
  

• Choosing Who Will Inherit Your Personal Property: A Personal Property Memorandum - If you have items of tangible property that you want to go to specific people, a Personal Property Memorandum is the place to write it down.  And, with a Personal Property Memorandum, you can change your mind without having to see a lawyer to amend your Will.
  

• 7 Secrets of a Successful Will- Fix potential problems with your Will today since you won’t be around to fix them when they arise.

• Top 10 Most Common Questions People Ask About Wills – Who needs a Will?  Does it need to be witnessed?  Can a Will be changed?  What happens if I don’t have one?  KEYTLaw attorney Abby Neal answers these common questions and more about Arizona Wills.

• Non-lawyers Preparing Wills – This woman hired a non-lawyer to draft her Will.  After her death, her family wound up in court fighting about the estate – something that everyone should try to avoid.
  

Death & Disability Planning

• Estate Planning: Not Just For the Rich- Whether you’re worth hundreds or millions, you and your family can benefit from an estate plan.

• Healthcare Power of Attorney – If you are sick or injured and unable to make your own healthcare decisions, who will make them for you?  With a Healthcare Power of Attorney, you decide.  Without, a court will decide – and it won’t be cheap.
  

• Living Wills – Remember Terri Schaivo?  After a heart attack, Terri was left in a persistent vegetative state.  Terri’s story made national headlines because her husband and parents couldn’t agree on what Terri herself would have wanted.  Did Terri want to be kept alive artificially in her condition?  Or did Terri want to refuse the aggressive medical treatment and die naturally?  Since Terri didn’t have a Living Will, Terri didn’t get to make that decision. 
  

• HIPAA Authorization – Federal healthcare privacy laws (HIPAA) prohibit medical providers from disclosing your medical information without your permission.  But what if you’re unable to give permission because you’re sick or injured?  You probably want a loved one to be informed of your medical condition so they can make healthcare decisions for you.  If you become incapacitated, a HIPAA authorization allows your medical providers to give medical information to a person that you choose.

• Financial Power of Attorney – We all have financial obligations.  Unfortunately, they don’t go away if you become incapacitated.  If you are unable to handle your own finances, who will do it for you?   With a Financial Power of Attorney, you can pick an agent to manage your finances – and pay the bills – when you can’t do so yourself.
  

• Planning for Disability – Did you know that most people will face some sort of disability during their lifetimes?  Planning for this can save your family time and money, and alleviate some stress in a difficult situation. 
  

Trust Basics

• Understanding the Significance of Trusts – An explanation of basic concepts of revocable and irrevocable trusts. 
  

• Trust Incentives & Disincentives – Sample optional trust incentive and disincentive provisions.
  

• Arizona Trust Companies – A list of Arizona trust companies KEYTLaw recommends if you plan to name an institutional trustee.
  

• Beware of Trust Scams – Former Arizona Attorney General Terry Goddard warns Arizonans about non-lawyers who operate trust mills and use scare tactics and misrepresentations to sell their services.
  

• FDIC Deposit Insurance Information – Are your trust account deposits fully insured by the FDIC?  Do you know the FDIC insurance rules?
  

• FDIC Insurance Calculator – EDIE the Estimator calculates your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts.
  

Special Trusts

• IRA Inheritance Trust® – A new type of trust called the IRA Inheritance Trust® can ensure your beneficiaries stretch-out distributions over their lives for tax-free growth to maximize wealth accumulation and to provide asset protection if necessary.
  

• Pet Trusts – Since pets are our furry “kids” it makes sense to protect them just like our human children.  Often pets are left scared and forgotten after a tragedy.  Some might even end up in shelters, or worse.  Don’t leave Fido and Fluffy out of your estate plan – protect them with a Pet Trust!
  

• Special Needs Trusts – This Wall Street Journal article sheds light on this important special type of trust.
  

Estate Tax

• Estimate Your Federal Estate Taxes – Enter your assets and estimated growth and get a rough idea of the amount of estate taxes your estate might owe in the future.  It’s only a guesstimate based on current federal estate tax law and dependent on the information you enter.
  

Special Considerations

• Caring for Fluffy and Fido After You’re Gone – You can make sure your pet has the best possible care with a pet trust.
  

• Guardians & Conservators 101 – If someone is under the age of 18 or incapacitated, they will need a guardian to care for them.  The person may also have a separate conservator to manage their finances.  Learn more about guardians and conservators including when they might be needed, how they are appointed, and if it can be avoided.
  

• Beneficiary Designations – Do you remember filling out a form naming your beneficiary when you set up your retirement account or purchased your life insurance policy?  Do you remember who you wrote down?  Since life insurance and retirement accounts are often some of the largest assets people own, designating the right beneficiaries is a critical part of estate planning. 
  

• Estate Planning When a Spouse Is Not a U.S. Citizen – Ten things everyone should know about international estate planning.
  

• Special Needs Trust – A must read article if you have a child or loved one with special needs.
  

Transferring Property

• Arizona Beneficiary Deeds – Use a Beneficiary Deed to avoid probate of Arizona real property.
  

• Arizona Beneficiary Deed Preparation Service – An explanation of KEYTLaw’s low cost Beneficiary Deed preparation service.

• Transfer Your Vehicle Probate-Free – Arizona law allows you to transfer the title to your vehicle upon death to one or more beneficiaries of your choice.  This estate planning tool is easy and inexpensive, and we’ll tell you how to take advantage of it.
  

• Intestate Succession – What happens if you die without a Will?  Your property will be distributed according to Arizona’s laws of intestate  succession.  This article explains how it might work in your situation.
  

• How to Hold Property – A description of the various ways to hold property, including joint tenants with right of survivorship, community property with right of survivorship, tenants in common and tenancy by the entirety.
  

Estate Planning Mistakes

• Would You Perform Surgery On Yourself? Do-It-Yourself Estate Planning Mistakes – KEYTLaw’s top 5 reasons to avoid DIY estate planning.  This is a must read article if you are considering DIY estate planning.

• Anna Nicole Smith’s Will: The Saga Continues For Her Family – A great example of a bad estate plan.
  

How Do I…?

• How Do I Handle A Deceased Family Member’s Facebook Account – Instructions on how to memorialize and remove a loved one’s Facebook account, who can memorialize and remove an account and tips for copying media before removing an account.

• How to Hire an Arizona Probate Attorney to Do an Arizona Probate – Complete our online Arizona Probate Service Agreement, print and sign the document then send it to us with a check for the $2,500 security deposit.

• How Do I Start An Arizona Probate – An explanation of steps to open an Arizona probate, make notification required by law, what to do with a Will if there is one, appoint a personal representative, when bond is required for a personal representative, duties of the personal representative and more.

• How Do I Transfer Real Property Into A Trust – An introduction to Arizona Beneficiary Deeds, when one is appropriate, the benefits and drawbacks to using a Beneficiary Deed and forms provided by statute.

• How to Hire KEYTLaw to Prepare an Arizona Beneficiary Deed – Complete our online Arizona Beneficiary Deed Service Agreement, print and sign the document and then send it to us with payment of $195 per Beneficiary Deed.

Estate Planning FAQs

• Arizona Estate Planning FAQ – Answers to frequently asked questions about Arizona Wills, Trusts and Estate Planning.
  

• Who Gets My Property If I Die Without A Will or Trust? – Your property will be distributed according to the laws of intestate succession.   Learn more about what might happen if you die without a Will or Trust in Arizona.
  

• Traditional IRA Distribution Flowchart – This chart will show you the many different distribution choices the beneficiaries of your traditional IRA must make after your death.
  

• Roth IRA Distribution Flowchart – Like the Traditional IRA Distribution Flowchart, this chart shows you the distribution choices the beneficiaries of your Roth IRA will have to make.
  

• Free Estate Planning 101 – Attend a free 1.5 hour mini-course called EP 101 to learn more about Arizona Wills, Trusts and Estate Planning and why you need a comprehensive estate plan to protect your family.  Classes are limited to 12 people and are held the 1st Tuesday of every month at 7 pm in the KEYTLaw offices in Central Phoenix. 
  

Protect Your Family

• KEYTLaw’s Low Cost Family Protection Plan – At $397 for singles and $497 for married couples or unmarried partners, you can be confident that your family is well protected – without breaking the bank.
  

• Why You Need An Estate Plan To Protect Your Family and the High Cost of Procrastination and Neglect – How your family may suffer severe financial loss if you die or become incapacitated without a comprehensive estate plan.
  

• Learn how you can protect your family with a KEYTLaw comprehensive estate plan.  Attend Estate Planning 101

Gun Trusts

• NFA Gun Trusts – A resource for Arizona residents to understand the NFA, Title II firearms and how and when to use a gun trust to own and use Title II firearms.