Understanding Intestacy - More Questions and Planning Choices
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Transcript of Understanding Intestacy - More Questions and Planning Choices
Understanding Intestacy – Part 2
More Questions & Planning Choices
By The Deason Garner Law Firm
Family
What will my children/family inherit? Arizona is a community property state. This means that the property you and your spouse acquire during your marriage is owned jointly by the both of you. When one spouse dies, the other automatically becomes the sole owner of all community property, with some exceptions. Spouses also inherit a portion of the property you acquired before your marriage, known as separate property.
Spouses What will my spouse inherit? Arizona is a community property state. This means that the property you and your spouse acquire during your marriage is owned jointly by the both of you. When one spouse dies, the other automatically becomes the sole owner of all community property, with some exceptions. Spouses also inherit a portion of the property you acquired before your marriage, known as separate property.
Escheat Is it true that the state can inherit all my property? Yes. Should you die leaving behind no identifiable living relatives, the state of Arizona becomes your legal heir. Though it rarely happens, it is possible.
Choices Is there anything I can do to avoid intestacy? Absolutely. Creating a will allows you to make inheritance choices. You can also choose who you want to act as your estate representative, and make other important decisions that, should you die intestate, you would otherwise leave up to a court or Arizona intestacy laws to decide.