If you die without a Will, it’s possible – but not likely – that your estate assets will be transferred to the State of Arizona.
I often hear from my estate planning clients that they want to make a Will because they don’t want the State to get everything when they die. For most people who die “intestate,” that’s an unlikely outcome.
In Arizona, if you die without a Will, your estate assets will be distributed in accordance with the laws of “intestate succession.” Intestate succession applies only to assets that are not distributed pursuant to another method of transfer, such as beneficiary designation, “payable on death” or “transfer on death” accounts, joint tenancy with right of survivorship, community property with right of survivorship, and/or assets that are titled in the name of a Trust.