![]() ![]() 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. ![]() 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. ![]()
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