Basics of a revocable living trust
The process of creating a revocable living trust can be broken down into three steps:
- Narrowing down choices for Executors / Trustees, Powers of Attorney, Guardians and Beneficiaries
- Creating your estate planning documents
- Transferring your assets into your Revocable Living Trust
Transfer your assets to the living trust
The step is essential for your estate to
avoid probate. Probate is for your benefit to ensure the rules of your will are followed (if you die without a will, the state has one for you). Probate can take time (average 6 - 18 months) and cost money if attorneys are needed. Probate in Arizona affects estates with real estate valued over $75,000 or other assets totaling more than $50,000.

"At any given time, there are more than 25,000 pending probate cases of all kinds in the county. Although the term "probate" refers only to establishment of the validity of a will, the judges and court commissioners assigned to the Probate Court are responsible for a broad variety of matters in addition to decedents' estates. Most of the new probate cases filed involve decedents' estates. But the vast majority are resolved informally without the involvement of a judge or court commissioner. Only when there is a dispute does the judicial officer have to become involved."
www.superiorcourt.maricopa.gov
Assets are transferred by changing the title of assets from your name to your trust's name.
If you appoint yourself Trustee of your revocable living trust, you control the assets you place in your living trust. Upon an incapacitation your appointed Successor Trustees act in a manner similar to a Financial Power of Attorney.
Your living trust will out-live you
Your revocable living trust is a living entity. When the last Trustor passes (you or your spouse), your revocable living trust will "live" for 100 years after the passing of your last named beneficiary. Since your trust owns your assets and is living when the last Trustor passes, no assets titled under its name encounter probate and your successor trustees may, after paying debts, quickly distribute your estate.
After the last Trustor passes, your Successor Trustees controlling distribution of your trust are legally bound to follow your instructions. Most living trusts include No Contest Clauses revoking inheritances of any beneficiaries contesting the trust.
Benefits of a living trust for young families
Your
living trust has the ability to hold assets until beneficiaries meet age requirements set by you. Additional stipulations can be made by simply asking your estate planner.

Living trusts are known for easily accommodating unique requests, such as
estate planning for pets.
It is essential legal verbage is written correctly to reduce the possibility any part of your plan is contested.
Guaranteed great service and value
What sets us apart from many planners is our dedication to see you have properly transferred your assets to your Revocable Living Trust. Our goal for those managing your estate is to find no surprises and handle everything with ease. Several times a year we hold living trust review sessions when clients stop in for as long as they like to review their trust and ensure assets have been titled properly.
Living Trust costs in Arizona
Using our estate planner and attorneys the Revocable Living Trust packages, regardless of your estate's size, are $750. Our attorneys are Thomas H. Leavell and Kenneth J. Hill and may be viewed on the
Arizona State Bar website.
Your Revocable Living Trust package will include the following documents:
Revocable Living Trust - (A, A-Disclaimer / Bypass Trust, A-B or A-B-C)
Durable Power of Attorney
HIPAA Releases for Powers of Attorney
Last Will and Testament
Living Will
Community Property Agreement
One deed to transfer an Arizona property into your trust
Are there additional costs or fees?
There are no additional costs or attorney fees from us for the above planning package. However, if you require additional Arizona deeds, we can prepare and record them for $14-$18 (depending on county). For non-Arizona deeds, we recommend you find someone in that state to prepare your deeds. Department of Motor Vehicle retitling fees are typically less than $15 per vehicle. Amendments for living trusts average $50-$100.
Contact us today to get your estate plan started by calling (480) 229-6220 or (623) 748-1711. Don't forget to print our Arizona estate planning questions and living trust and will chart.