Wills
No one wants to think about death, especially the prospect of one’s own death being sooner than later. Yet, it is important to make sure that your loved ones are provided for and taken care of if anything happens to you. If you don’t have a will, now is the time to give it serious thought. If you have already executed a will and you want to make changes to it, now is also the time to do so.
If you fail to plan for the disposition of your assets, the State of Arizona has already decided how your assets will be distributed; however, the State’s plan of distribution is likely not the same as your plan. More importantly than asset distribution is determining who will be the guardian of your children. It is important to designate in your will who will be the guardian of your children so that your children will be provided for and taken care of. No one knows better than you do as a parent who will best raise your children in the event you die while your greatest treasures are still young children.
What is a Valid Will?
In Arizona, the following requirements must be met in order for a will to be properly executed:
1) Testator must be eighteen years of age;
2) The Will must be written with testamentary intent;
3) The Testator must sign the Will;
4) Two persons must witness the Testator’s signing (or Testator’s acknowledgement of a previous signature); and
5) The witnesses must sign the will within a reasonable time thereafter.
An uncontested will may be admitted to probate as long as it appears to have been validly executed. If the will is contested, the court will schedule a formal testacy proceeding.
If you will does not meet the requirements set forth above the court may determine that it was not validly executed and may distribute your assets as if you had not made a will at all.
Completing a Will
It is unfortunate that a majority of people in the United States do not have a will. Perhaps, even more unfortunate are the numerous issues that arise to individuals who have already prepared their wills without the assistance of legal advise. Many issues arise when drafting a will and many unforeseen consequences are incurred by individuals who choose to draft their own wills without the assistance of an attorney. The legal issues that arise from drafting wills without the assistance of an attorney are only compounded when the testator creates subsequent wills, modifies a will, revokes a will, attempts to amend only certain portions of a will or attempts to revoke the will. Additional issues regarding ademption arise when a testator provides that a beneficiary is to receive a specific gift (e.g. “my 2002 Ford Mustang”), but later sales the Mustang before passing away. At times additional issues arise regarding the true intent of the testator after his or her death when a beneficiary predeceases the testator after the will was executed. For these and many other reasons, it is wise to utilize the assistance of a licensed Arizona attorney to prepare your estate plan.
SPENCER EVANS
ATTORNEY AT LAW, PLC
PLANNING FOR SUCCESSION SM
(623) 505-0565
se@spencerevans.com
