August is Make-A-Will Month, a fitting time to consider a document too many people put off: a will. Many people assume that if they don’t have a will, their assets will simply go to their spouse or closest family members. In Arizona, that’s not always the case, and the actual outcome may surprise you.
Your Assets Pass Under Arizona Law, Not Your Wishes
If a person does not leave behind a valid will, Arizona’s intestate succession laws then determine who inherits, and the results can be more complicated than expected. A spouse does not automatically inherit everything because Arizona is a community property state. If you have children from a previous relationship, for example, your spouse may end up sharing ownership of assets, including your home, with those children. Without a will, you have no say in the matter.
The Process Can Create Confusion and Delay for Your Family
Rather than settling your estate according to a plan you created, your loved ones may face uncertainty about who is entitled to what, adding complications to an already difficult time. A will gives your family clarity.
Your Values and Priorities Go Unrepresented
If you do not have a valid will, you lose the opportunity to define your legacy, including any support for causes close to your heart, such as Catholic Education Arizona. The people and organizations that shaped your life, your values, or even your faith, or that you hoped to help, receive nothing unless the law happens to name them, which it never does for charitable causes.
Planning Ahead Matters
Through Catholic Education Arizona’s philanthropic division, Changing Lives with Legacy, you can ensure that Catholic education remains part of your story for generations to come. A properly prepared will lets you decide the legacy you leave behind.
Don’t leave your legacy to chance.
Talk to your attorney or financial advisor about creating or updating your will. Contact our Changing Lives with Legacy Development team today at legacy@ceaz.org or call (602) 218-6542 and ask to speak with the Changing Lives with Legacy team. Visit MyImpact.CatholicEducationArizona.org
Catholic Education Arizona does not provide tax, legal, or financial advice. Gift results may vary. Please consult your personal financial advisor for potential tax benefits/implications. Donations and planned gifts through the Changing Lives with Legacy are not dollar-for-dollar tax credits through the Arizona Private Education Tax Credit.
