{"id":795,"date":"2017-07-13T20:43:29","date_gmt":"2017-07-13T20:43:29","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/?page_id=795"},"modified":"2024-10-03T22:21:21","modified_gmt":"2024-10-03T22:21:21","slug":"using-revocable-trusts","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/blog\/using-revocable-trusts\/","title":{"rendered":"Revocable Trusts in Arizona"},"content":{"rendered":"

Introduction<\/h2>\n

Estate planning is an essential task in order to ensure that you are able to preserve the assets you worked hard to earn for yourself and your family. There are many different options you have when it comes to estate planning, each with their own benefits for different given situations. Understanding all the options available can be difficult, but with the assistance from an experienced estate planning attorney, you can work together to devise the plan that works best for your specific situation.<\/p>\n

Revocable Trusts<\/h2>\n

Revocable trusts can be very beneficial in certain cases for estate planning. A revocable trust, also referred to as a \u201cliving trust\u201d is important because it can help an individual\u2019s family avoid the hassle of probate. Putting a revocable trust in place will smooth out the transition of passing on assets up death.<\/p>\n

A trust is a legal document<\/a> that grants a \u201ctrustee\u201d the power to hold the titles and manage the assets of an individual. However an individual has the ability to revise their trust up until their death. This gives someone the ability to quickly and easily transfer assets, and not be a binding decision that can\u2019t be altered.<\/p>\n

Assets placed into a trust generally pass on to heirs much sooner than those designated by a will. This is beneficial because it can cut down the costs and time involved with dealing with probate.<\/p>\n

Who can be the trustee of my Revocable Trust?<\/h2>\n

When you create your trust, you get to choose who will be the trustee. The trustee will be in charge of managing and distributing assets upon incapacitation or death.<\/p>\n

The trustee can be any of the following people:<\/p>\n