Understanding Intestacy - More Questions and Planning Choices
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In Arizona, a community property state, when one spouse dies the surviving spouse automatically becomes the sole owner of all community property acquired during the marriage, with some exceptions, and also inherits a portion of any separate property the deceased spouse acquired before the marriage. If a person dies without a will and has no identifiable living relatives, the state of Arizona will inherit their entire estate. To avoid having the state make inheritance decisions and choose an estate representative, a person should create a will to specify their inheritance wishes and choices.
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In this presentation you will learn the commonly asked questions and answers for living trusts, asset protection and other issues in Arizona.
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Learn more about the commonly asked questions and answers regarding powers of attorney in Arizona.
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Learn more about trusts in Arizona and understand its benefits and purposes in this presentation.
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Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
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Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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- 1. Understanding Intestacy – Part 2 More Questions & Planning Choices By The Deason Garner Law Firm
- 2. Family What will my children/family inherit? Arizona is a community property state. This means that the property you and your spouse acquire during your marriage is owned jointly by the both of you. When one spouse dies, the other automatically becomes the sole owner of all community property, with some exceptions. Spouses also inherit a portion of the property you acquired before your marriage, known as separate property.
- 3. Spouses What will my spouse inherit? Arizona is a community property state. This means that the property you and your spouse acquire during your marriage is owned jointly by the both of you. When one spouse dies, the other automatically becomes the sole owner of all community property, with some exceptions. Spouses also inherit a portion of the property you acquired before your marriage, known as separate property.
- 4. Escheat Is it true that the state can inherit all my property? Yes. Should you die leaving behind no identifiable living relatives, the state of Arizona becomes your legal heir. Though it rarely happens, it is possible.
- 5. Choices Is there anything I can do to avoid intestacy? Absolutely. Creating a will allows you to make inheritance choices. You can also choose who you want to act as your estate representative, and make other important decisions that, should you die intestate, you would otherwise leave up to a court or Arizona intestacy laws to decide.