{"id":1100,"date":"2019-02-26T18:11:57","date_gmt":"2019-02-26T18:11:57","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/?page_id=1100"},"modified":"2024-03-27T23:11:44","modified_gmt":"2024-03-27T23:11:44","slug":"family-estate-planning-in-arizona","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/blog\/family-estate-planning-in-arizona\/","title":{"rendered":"Family Estate Planning in Arizona"},"content":{"rendered":"

Introduction<\/h2>\n

Estate planning takes on an entirely different meaning when you have a family. You\u2019re not just planning for yourself anymore — you have a responsibility to ensure your children are properly provided for and cared for in any contingency. That includes addressing what happens if you become incapacitated, what happens when you pass away, who will physically care for your children, and how that caregiver will financially support your children.\u00a0<\/span><\/p>\n

What is a Family Estate?<\/h2>\n

When people use the term \u201cfamily estate,\u201d they\u2019re generally referring to community property<\/a> shared with a spouse. Under Arizona\u2019s community property laws, property that\u2019s accumulated from the date of marriage until the date of divorce or legal separation is shared equally between spouses. Each spouse has a 50% claim to the joint assets, and sole claim to separate property<\/a> acquired before marriage or by gift, descent, or device during the marriage.\u00a0<\/span><\/p>\n

There are two ways to handle community property in a family estate. The easiest is to position your assets to transfer to your surviving spouse outside of probate by listing them as a joint owner or beneficiary. When handled properly, non-probate assets can pass to your spouse immediately upon your death without waiting to probate your will. Not only does this save time and money, it ensures your spouse has continued means to provide for your family in your absence.<\/p>\n

Positioning assets to transfer outside of probate isn\u2019t always an option, however. In these situations, it\u2019s important to cover probatable assets in your last will and testament. It may take a little longer to probate the assets, but it\u2019s far better than leaving your estate subject to state intestacy laws in the absence of a will.<\/p>\n

Core Documents in a Family Estate Plan<\/h2>\n

While family estate planning certainly carries unique considerations and contingencies to plan for, the core documents are the same as you\u2019d find in an individual estate plan. You can handle some of these on your own, but most of them will require the assistance of an experienced estate planning attorney.\u00a0<\/span><\/p>\n

When you find an attorney you trust and see yourself working with, the attorney will help you prepare the following important documents to form the foundation of your estate plan:<\/p>\n