Arizona Estate Planning Basics: Will vs. Trust — Which One Is Right for You?
If you own a home, have children, or simply want to make life easier for your loved ones, you need an estate plan. One of the most common questions we hear is: “Should I get a Will, a Trust, or both?” In this article, we break down the key differences between a Last Will and […]
If you own a home, have children, or simply want to make life easier for your loved ones, you need an estate plan. One of the most common questions we hear is:
“Should I get a Will, a Trust, or both?”
In this article, we break down the key differences between a Last Will and Testament and a Revocable Living Trust under Arizona law to help you decide what’s right for your situation.
What Is a Will?
A Will is a legal document that:
- Names who should receive your property after death
- Appoints guardians for your minor children
- Nominates a personal representative (executor)
In Arizona, a Will must go through probate — a court-supervised process that can take several months and cost your estate money in fees.
What Is a Revocable Living Trust?
A Revocable Living Trust is a legal tool that:
- Holds your assets during your lifetime
- Names someone to manage your affairs if you become incapacitated
- Allows your estate to be distributed without going through probate
If the trust is properly set up and funded, it can keep your estate private and efficient — and make things far easier for your loved ones.
Will vs. Trust: A Quick Comparison
| Feature | Will | Revocable Living Trust |
|---|---|---|
| Goes Through Probate? | ✅ Yes | ❌ No (if funded) |
| Effective During Your Life? | ❌ No | ✅ Yes |
| Names Guardian for Children? | ✅ Yes | ❌ No |
| Privacy | ❌ Public | ✅ Private |
| Cost to Create | ???? Lower | ???????? Higher (but saves more later) |
Arizona-Specific Considerations
- Probate in Arizona is often less burdensome than in other states, but it’s still avoidable with a trust.
- Community property laws affect how your estate is divided without a plan.
- Arizona allows small estate affidavits, but only for estates below specific limits ($75,000 in personal property or $100,000 in real estate although a newly passed Arizona law will increase those amounts to $200,000 and $300,000).
If you own a home, you likely exceed these limits — which means a trust may be the better option.
Should You Choose a Will or a Trust?
Use a Will if:
- You want a simple plan
- You have minor children and need to name guardians
- Your estate is small and won’t trigger probate
Use a Trust if:
- You own real estate
- You want to avoid probate and keep things private
- You want to plan for incapacity
Often, the best estate plan includes both — a Revocable Living Trust to manage your assets and a Will to name guardians and catch anything outside the trust.
Let’s Build a Plan That Works for You
At Arsenal Law, we help Arizona families create customized, effective estate plans that work — not just on paper, but in the real world. We make the process easy to understand and easy to complete.
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