Distribution of Assets Attorney Phoenix, AZ
A distribution of assets attorney Phoenix, AZ knows that when you are choosing to go through the estate planning process, you are doing the right thing for yourself and your family. We understand that this is a difficult process and can be even harder when you are facing questions regarding what will happen after you pass away. However, it will be a huge benefit to you to ensure you know where your property and assets are going. If you would like to speak with a trusted attorney at Kamper & Estrada, PLLC, call our office now to schedule your consultation. We can help to put your mind at ease.
What happens if I die without a will?
If you do not have a will or trust in place when you pass away, you should know that this decision will trickle down into what happens to your assets. Some of the assets this may affect are:
- The funds in your 401(k), or IRA
- A vehicle you own
- The property you own personally or with another person
- A payable-on-death bank account
If you have named someone as a beneficiary, you can expect these items to be transferred after you pass away.
How will I know if anyone I care about will get my property?
The best way to ensure your loved ones get what you want them to have is to work with a probate attorney Phoenix, AZ offers. They can help you create an estate plan that will direct where you want your funds and property to go. If you pass away without a will, that can make things more complicated in Arizona. For example, if you have no children but have a spouse, you can expect your spouse to get your items. On the other hand, if you have only children and no spouse, your children would get your assets. Or, if you only have siblings and have no spouse, children, or parents, you can expect your siblings to inherit your property and assets. If you and your spouse shared property when you were married, they would inherit your portion of that property after you pass away.
Is it true that my property goes to the state if I die in most cases?
Arizona laws try to account for many possibilities and your property will go to the state as a last result.
Want to learn more about creating an estate plan? Speak with our Phoenix, Arizona distribution of assets attorney now.