Most Americans entering their 30’s are concerned with raising a family, purchasing a home, and saving for retirement. Those things are often at the top of a person’s list of priorities, and they think they have covered all their bases when it comes to ensuring a safe and secure future for their families.
We’ve all heard the story of a relative or friend passing without leaving behind a will (specific instructions regarding the distribution of their assets). Most individuals leave behind some assets upon their death, such as a home, car, or savings account. The distribution of these assets is a process known as probate. If no will is available to outline the decedent’s wishes regarding who receives what, Arizona probate laws kick in to make those decisions for them.
1. A will is a written document that outlines what happens to a person’s property after their death.
2. To have a will, a person does not have to possess a large estate.