Legal Question in Wills and Trusts in Arizona
What are the disadvantages, if any,of using wills for maried persons w/adult children?
1 Answer from Attorneys
A will serves, only at the date of your death, to determine how your assets and property are distributed to your heirs. You, rather than state law, determines how gets your property, after your claims, creditors and taxes are paid. You may disinherit one or all of your children and leave property to someone who is not an heir under state law.
The Will does not protect you during your life time. You may want to consider a trust, which will provide a means of protecting you and your estate during your lifetime, should you become incapacitated or otherwise unable to manage your own financial affairs. The trust will determine how the assets in the trust are distributed upon your death.
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