In Arizona, there are five (5) main estate planning documents that comprise an estate plan. The documents are: (1) Last Will & Testament, (2) Revocable Trust, (3) Durable General Power of Attorney, (4) Healthcare Power of Attorney and (5) Living Will. A proper estate plan will result in paying the least amount of estate and gift taxes, avoiding probate, and implementing powers of attorney to address worst case scenarios where you are unable to make your own financial and health decisions. A well written estate plan helps bring peace of mind.
This post is meant to provide a general picture of estate planning in Arizona. It is important to note...