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Who gets assets without will in Arizona?

If someone dies without a will, their estate assets will pass by intestate succession. Intestate succession means that any part of the estate not covered by the decedents will goes to the decedents spouse and/or other heirs under Arizona law.

What is the best trust for a married couple?

A joint revocable trust is probably the easiest form of living revocable trusts for a married couple to use. A joint revocable trust merges the estate planning of a couple using a single trust document.

Can two people have the same trust?

Joint trusts are easier to manage during a couples lifetime. Since all assets are held in one trust, ownership mimics how many couples hold their assets - jointly. Both spouses having equal control of the management of joint assets held by the trust.

Does a spouse automatically inherit everything in Arizona?

If you have a spouse but no descendants, your spouse will receive your assets. For those who are married and have descendants with their spouse, the spouse will inherit everything. For people with a spouse and children from another partnership, the spouse will inherit half of all separate property.

Should my wife and I set up a trust?

Assuming you have no creditor concerns, both spouses want all the assets to go to the surviving spouse, and state death tax will not be an issue, a joint trust may be the way to go, for several reasons: A joint trust is easier to fund and maintain during the couples lifetime.

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