Estate (Estate Planning)

Revocable Living Trust Attorney Serving Chandler & Phoenix

A revocable living trust is a living trust that can be changed at any time as long as the grantor is alive. Having your assets in a revocable trust means that your beneficiaries will be able to avoid the probate process and save money overall. 

If you need help with establishing a revocable living trust, then our legal team is ready to help. When working with our law firm, you will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours. We offer free consultations to help you determine what your next steps need to be.

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What Is a Revocable Living Trust in Arizona?

Revocable living trusts are contracts which have three parties: the “trustor” who makes the trust, the “trustee” who administers the trust assets by the terms of the trust, and the “beneficiary” who receives the assets according to the terms of the trust. 

A husband and wife can create a trust in which they are both trustors, both trustees, and both beneficiaries. Once they put their assets into the trust, those assets will pass without going through a probate court. These are very important strategic documents. They can be revocable or irrevocable. Sometimes when people become older a child or grandchild will gain favor and begin to siphon off assets. Having a revocable or irrevocable trust can  also protect you from the potential of being taken advantage as you get older.

The Estate Administration Process
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1. Initial Meeting

We offer a free 20-minute initial phone consultation to obtain pertinent facts about your case and determine if it is a matter we can assist with. When preparing for an initial phone consultation regarding estate administration, it's helpful to have all the necessary information ready. This includes your relationship to the deceased, the names of any living and deceased relatives, and a copy of the will, if one exists.

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2. Opening Probate

Based on the information you give us, we will determine how best to proceed with your case. If the facts of your case necessitate the filing of a petition or an application with the probate court, and you engage our firm, we will prepare and file that document on your behalf. If the Estate can be administered without the filing of a petition, we will prepare and file the necessary documentation with the court.

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3. Appointment of Personal Representative

After we file the petition, or an application, the Court will determine whether it is appropriate to appoint you (or the person you nominate) as the Personal Representative. If the requested appointment is made, we will move forward to guide the Personal Representative through the steps necessary to administer the Estate.

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4. Legal Notice

With your assistance, we will compile a list of all interested parties, including the Decedent’s heirs and creditors, and provide notice as required by law.

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5. Inventorying Assets

We will provide guidance to help the Personal Representative identify and inventory all assets of the estate. This includes real estate, bank accounts, investments, personal property, and any other assets owned by the Decedent.

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6. Paying Debts and Taxes

After legal notice has been perfected and the Estate assets have been inventoried, we will help you allocate estate funds toward any outstanding debts of the Decedent, including expenses of administration, statutory allowances, funeral expenses, medical bills, creditors, and any taxes owed.

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7. Distributing Assets to Beneficiaries

After expenses of administration, debts and taxes are paid, the remaining assets of the estate can be distributed to the beneficiaries according to the Decedent's will or Arizona’s intestacy laws if there is no will. If there are disagreements among beneficiaries and heirs, we will work with the Personal Representative to resolve those agreements, if possible.

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8. Closing Probate

After all steps of the administration have been completed, we will file documentation to close the case. This typically involves filing documents confirming all necessary steps of administration have been completed, and providing notice to appropriate parties that the estate has been closed.

Legal Disclaimer:

The information provided on this website is for general informational purposes only and is not intended to be legal advice. While we strive to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for professional legal advice. Each legal matter is unique, and the specific facts of any particular case will impact the overall legal procedure and the advice required. Therefore, we recommend that you consult with a qualified legal professional to obtain advice tailored to your individual circumstances.

Where Revocable / Irrevocable Living Trusts Become Useful

A revocable or irrevocable trust can be beneficial to you depending on your specific situation. That is why it is important to consult with an experienced attorney before deciding how you will manage your assets within your estate plan. Living trusts as a whole can be beneficial if you have: 

  • Multiple pieces of real estate. 
  • Real estate located in other states of the union. (Putting the property in a trust avoids having to do another probate in that other state, because states have jurisdiction over the land that is in that state.) 
  • Blended families. 
  • Families with troubled children. 
  • Families with control issues. 
  • People who do not want the public to be aware of their assets. 
  • People with a lot of money so that there will not be a problem paying debts, and the premium is placed on a smooth administration. 
  • People with odd distribution schemes. 
Nothing but calming, compassionate, informative, and helpful through the probate process. We are now updating our estate plan and continue to receive their attentiveness and professionalism.
Terry Dobbs
Golden Rule gave us excellent service for an excellent price. Mr. Decker and Justin were knowledgeable and friendly and I'm very glad we went to them.
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Tanner Tanner
Attorneys Woods & Decker were professional and compassionate. We were grateful for their quick response and ability to meet with us on short notice. They listened carefully and provided us with sound counsel. We highly recommend their services!
Don Priem
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Contact An Experienced Estate Planning Attorney

At the Golden Rule Law Group®, our team is dedicated to helping and representing you. You will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours.

Our firm primarily serves the areas of Chandler, Gilbert, Phoenix and other areas around Maricopa County. If you are in need of an experienced probate attorney in Arizona, please contact us today to schedule your free case evaluation.

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Legal Disclaimer

The information you obtain at this site is not, nor is it intended to be, legal advice. The Golden Rule Law Group® · Decker & Woods, PC's legal team is licensed to practice law in Arizona. We invite you to contact us, but please be aware that contacting us does not establish an attorney-client relationship. Please do not send any confidential information to us until an attorney-client relationship has been established.

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601 N Alma School Rd, Chandler, AZ 85224
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