In case you (deceased person or decedent) leave behind a spouse and children, or if you only have a surviving marital partner who has descendants, doubling up as their heirs, then your husband or wife will inherit all of your assets. Then again, in case you, the decedent, are survived by kids and no significant other, your children will become your only successors.
The surviving marital partner may inherit a part of your legacy if you are survived by offspring not related to the spouse.
Taking this information into account, you probably see that creating a will is the right choice. If you do, we will gladly help you. At the end of this article, you will get a free sample of the last will and testament in Arizona.
Yet, firstly, we should clarify what a last will and testament (or simply last will) represents.
The above mentioned terms are used interchangeably to indicate an essential legal document confirmed by an ordinary person. In this legal paper, the individual who signed it (the testator) specifies that after their demise, their estate passes to a particular person or group of people. A free Arizona last will and testament will also indicate an individual who will receive the controlling interest for the property.
Nonetheless, it is crucial to note that it is relevant only when it comes to the distribution of legacy assets but not joint property or estate with any form of appointment of the beneficiary. By law, the individual who inherits your assets is an inheritor or a beneficiary.
Before finding out how to draw up a will, let’s take a look at the purposes of such a legal instrument:
- It determines who will inherit your probate estate when you pass away. Besides a proprietary right, you need the will to protect your assets.
- It comes in handy when you need to protect your minor children by allocating the guardian legally.
- It prevents your property from becoming an intestate estate.
- It protects your last wishes.
- It allows you to establish various trusts.