Will Writing
A legally binding document that outlines how a person's assets and property should be distributed after their passing.
What is a Will?
This term refers to the legal process in Arizona where a Court appoints someone to manage the Estate, deal with creditors, and distribute a deceased person's assets.
What is Probate?
The word used for the person who died.
What is Decedent?
The legal document that allows a trustee to manage assets on behalf of beneficiaries?
What is a Trust?
You can refer this type of person(s) to Dustin to create a Trust to avoid probate and make sure their young kids will be protected?
What is a young family?
The minimum age at which a person can create a valid Will.
What is 18?
The approximate length of time the easiest probates (informal probates) take from start to finish before the assets can be distributed.
What is 8 months?
The word used for the person appointed by the Court through a probate to manage an Estate.
What is a Personal Representative?
The primary benefit of transferring all of your assets into a Trust.
What is avoiding probate?
You can refer this person(s) to Dustin to review their current estate plan to make sure they update it from when they created it 20 years ago.
What is a family with kids over 18?
The number of witnesses needed for a typed Will to be valid.
What is 2?
The approximate cost for attorneys to assist a client with a basic probate.
What is $7,000?
The name of the person who creates a Trust.
What is a Grantor or Trustor?
The amount of total assets you should have before thinking about setting up a trust for yourself.
Any amount! But realistically, if you own a home.
You can refer this type of person(s) to Dustin to help them navigate the complexities of a probate.
What is a person who recently lost a family member?
The type of valid Will that is in the handwriting of the Testator, bears their signature, and does not need Witnesses.
What is a Holographic Will?
When family members fight over who should be in charge or who gets what, this is the process where the Court oversees the parties and decides the outcome of those disputes.
What is probate litigation or a contested formal probate?
The name of the person in charge of managing a Trust after the trust creator has died - their job is to gather the assets, pay creditors, and distribute the assets.
What is a Successor Trustee?
This type of gift made in a trust leaves specific property to specific people or charities after the Trust owner dies.
What is a specific gift?
You can connect this type of person(s) with Dustin because they are the ones that discover a probate is needed when property is being sold?
What is a title company?
A Will is invalid if this type of Witness witnesses the Will.
What is a blood relative to a beneficiary?
The approximate length of time for a contested probate to be completed, during which the assets remain frozen.
What is 1 to 2 years?
The name of a specific type of Realtor appointed by the Court to sell real estate in a contested probate when the parties can't agree.
What is a Special Real Estate Commissioner?
The way a parent can delay distributions for their children by setting different ages that the child will receive their distribution.
What is a Testamentary Trust?
You can refer this type of person(s) to Dustin because they host the continuing education class he teaches for realtors.
What is a title company?