![]() ![]() Execution of a Last Will and Testament is standard practice and is recommended for most estate plans. Last Will and Testament (‘Will’) – This form can be used to nominate beneficiaries and specify the assets each shall receive upon the principal’s death. Depending on the preferences of the individual, they can choose to create a Last Will and Testament, Revocable Living Trust, or a combination of the two. The next step requires that the principal draft a document that lays out how their estate will be divided and distributed after they die. Demand, Receive, Prosecute, or Defend (for Sums of Money).The document must be authenticated by the principal’s acknowledgment and an affidavit signed by the witness before a notary public. Signing Requirements – Must be signed by the principal in the presence of one (1) witness who is not the financial agent, the financial agent’s spouse, the financial agent’s children, or the notary public.The financial agent will have permission to act on the principal’s behalf and execute their financial requests until they regain the ability to do so or the document is revoked.ĭurable (Financial) Power of Attorney – Executing this form allows the principal to choose their financial agent and bestow upon them specific powers with which they can handle the principal’s finances. For this purpose, the principal will need to designate a financial agent by completing a Durable (Financial) Power of Attorney. The steps provided in the checklist below will guide individuals through the estate planning process in Arizona. If estate owners are uncertain of the purpose or execution process of estate planning documents, they may wish to seek legal counsel from a licensed attorney.Īnother important step in preparing an estate is to ensure that the principal’s finances will continue to be managed in the event that their decision-making ability is restricted. How to Create an Estate Plan in Arizona (6 steps) To ensure that their estate is appropriately distributed following their death, residents will need to complete a Last Will and Testament and/or a Revocable Living Trust. The appointment of such agents will be achieved through the execution of a Medical Power of Attorney and a Durable (Financial) Power of Attorney. It helps people prepare their estate before death and protect them should they die, become incapacitated, or unable to express their desires. It does not store any personal data.An Arizona estate planning checklist provides a list of documents that allow an individual to give authority to “agents” to manage their finances, medical decisions, and other end-of-life affairs. ![]() The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. We’re here to help you initiate your estate planning journey or update your existing estate plan.įill out the form below to receive our free Estate Planning Checklist. ![]() If you find that you have more unchecked boxes than checked ones, please don’t hesitate to reach out to SJF Law Group at 95. Upon submission of the form, our checklist will be sent to your provided email address. You can access this valuable resource instantly and free of charge by simply completing the form below. This concise checklist is designed to facilitate a seamless transition of your assets while safeguarding the future of your loved ones. We recognize that estate planning can feel overwhelming, and if you’re uncertain about where to begin, rest assured, you’re not alone! To assist you in comprehending the essentials of estate planning and the necessary steps, we offer our user-friendly 1-page estate planning checklist. ![]()
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