Knights of Columbus
Insurance AZ
Serving Councils:
3510, 3855, 4737, 7465, 9287, 11675, 12851, 13024, 14185
|
 |
Do I Need a Will?
Arizona is a community property state. Without a will, your estate is settled as provided by the Arizona intestity laws. In other words, even if you have no will, the State of Arizona has one for you.
You Decide...
| State Drawn "Will" State of Arizona |
|
| First: | I direct the Probate Judge to appoint anyone of his choosing to administer all property in my name and distribute it under the terms of this will. |
| Second: | I direct that all of my assets be converted to cash, all of my debts paid, including taxes, probate fees, administrative fees, and attorney's fee. |
| Third:
|
I direct that all our community property and one-half (if I am survived by one child) or one-third (if I am survived by two or more children) of my separate property, be paid to my spouse. |
| Fourth:
|
I direct that the balance of my estate be distributed outright, and in cash, in equal shares to my children. If any child be a minor, I direct that his share be held by a guardian for his benefit. The guardian may be anyone of the Probate Judge's choosing. |
| Fifth: | When each of my minor children attain age 18, I direct that his share be paid to him outright, at that time, regardless of his financial or emotional maturity. |
| Sixth: | In the event that my spouse does not survive me, I direct that his/her share be added to the children's shares created under Articles Fourth and Fifth. |
| Seventh:
|
If none of my children survive me but my spouse does, I direct that the remainder under Article Third be distributed outright in the following manner:
a. One-half of my separate property and all of our community property to my spouse. b. The balance to the parents, if living, otherwise to my brothers and sisters or their heirs. |
| Eight:
|
If I am not survived by my spouse, children or parents, I direct the Probate Court to seek out my closest blood relatives and divide my estate amoung them in a way which gives an equal share to my closest relatives or their descendants. |
| Ninth: | If no relatives can be located, I direct that all of my property go to the State of Arizona. |
_____________________ (No Witnesses No Signature Necessary to are Necessary) Put This Document in Force Not a Legal Document - A Summary of a Typical State Law |