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Get To Know About Different Types Of Trusts In Arizona

Get To Know About Different Types Of Trusts In Arizona

A guardianship is a legal arrangement in which a person (the guardian) is appointed to care for someone else (the ward) who cannot care for themselves due to a disability or lack of maturity. A guardian can make decisions on behalf of the ward, manage the ward's finances, and provide support services.

Guardianship is the most common type of trust, after which comes conservatorship and estate planning. You can hire an experienced guardianship attorneys in Arizona for your family needs.

There are three types of trusts: guardianship, conservatorship, and estate planning. 

  1. A guardian is someone appointed by a court to manage the person’s property and finances in case of incapacity or death. 

  2. A conservator is someone appointed by a court to manage the person’s property and finances when there is an incapacity or when there is a pending legal proceeding that might cause the person’s assets to be seized. 

  3. Estate planning involves creating a will and other documents that will direct the distribution of a person’s assets after they die. 

Depending on the type of trust you create, there may be certain requirements that must be met in order for it to be valid. For example, in order for a guardianship to be valid, the person must be legally incapable of making decisions for themselves and there must be a credible threat that he or she will become incapacitated within a short period of time.

If you're considering a guardianship, do some research and find the best guardianship lawyer for your needs.