Is Your Estate Plan Arizona-Ready?
A 7-Question Self-Assessment
Many families view estate planning as a one-time event. In reality, it is an evolving process. Changes in tax law, family dynamics, and even moving across state lines can render a once-perfect plan obsolete. Take a moment to answer these seven critical questions to determine if your legacy is truly protected.
1. Have you prepared a formal Will or a Trust?
Without proactive planning, you are relying on the Arizona state legislature to determine how your assets pass. This is often the most costly way to transfer your assets.
2. Has your plan been reviewed in the last two years?
Even without major life changes, tax law shifts since 2017 make regular reviews vital. An out-of-date plan can be more problematic than no plan at all.
3. Are all of your heirs over age 21 and financially responsible?
Under state law, children can inherit property at 21 without restriction. A trust prevents an heir from squandering an inheritance prematurely.
4. Are you certain your assets will avoid the Probate process?
Joint tenancy and beneficiary designations avoid probate, but everything else must go through court—a process that takes 12–18 months in Arizona.
5. Do you hold assets jointly with a child or someone other than a spouse?
A creditor of a joint tenant can potentially seize the entire asset. Holding joint assets with non-spouses often has devastating legal consequences.
6. Does your plan provide heirs with "Bloodline" protection?
Outright distributions leave inheritances vulnerable to future divorces or lawsuits. A specialized trust provides a lifetime of asset protection.
7. Is this a second or subsequent marriage?
Blended families present unique legal challenges. Proper planning ensures children from a prior marriage are not accidentally disinherited.
Your Results
If you answered “No” to any of the questions above—or “Yes” to question #5—your legacy may be at risk. Let's fix that.
