1. WHAT IS THE PRIMARY FUNCTION OF THE WILL (LAST WILL AND TESTAMENT) IN MY ESTATE PLAN? -- The will is the document that provides how and to whom the decedent's "probate assets" will be distributed at death. "Probate assets" are those that are titled solely in the decedent's name at death, and therefore do not have title or contractual at-death beneficiary designations already provided in them (such as joint tenancy, pay on death, or insurance policy beneficiary designations). For clients who have living trusts the will is called a "pourover will" and it directs that at death any of the client's probate assets will be paid over to the then serving trustee to be distributed as provided in the trust document.


2. WHAT OTHER IMPORTANT FUNCTIONS DOES MY WILL PROVIDE? -- The will (among other things) also allows you to select who will administer your estate. It also allows you to select a guardian or conservator for the client's minor or incapacitated adult children. It also allows the client to disinherit beneficiaries and either distribute the estate outright or in further trust to be managed over time for a selected beneficiary.
   
   
3. WHAT HAPPENS IF I DIE WITHOUT A WILL? -- Then, all of the client's "probate assets" are distributed according to the Arizona "intestacy" statutes, namely, to the client's then living closest blood relatives.
   
   
4. DOES HAVING A WILL MEAN THAT MY PROPERTY WILL AUTOMATICALLY REQUIRE PROBATE COURT ADMINISTRATION? -- Not necessarily. As indicated above, probate court administration arises for Arizona residents if the value of their "probate property" exceeds $50,000 in value at death net of debts. If the probate property is less than that amount it qualifies as a small probate estate and for personal property may be assigned by affidavit without court administration or for real estate requires only one document filing, whether or not the client has a will.
   
   
5. WHAT WILL IT COST ME TO HAVE A WILL PREPARED BY AN ATTORNEY? -- Assuming you wish to have your Will prepared by Arizona licensed, experienced, estate planning attorneys, rather than the many lesser (and cheaper) alternatives, expenses to prepare a Will varies by location in the greater Phoenix area. Expect to pay more for plans prepared by the larger (downtown) Phoenix law firms as well as firms in east Phoenix, Scottsdale, Paradise Valley, Carefree, and Tempe; lower charges can generally be expected elsewhere in the county. Generally a simple Will begins about $100 per client.

Estate Planning

Wills

Durable Powers of Attorney

Probate Estate Administration

Guardianship-Conservatorship

Living Will Declaration

Living Trusts and Estate Plan

Trust Estate Administration