Arizona Laws 14-5427. Preservation of estate plan
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In investing the estate, and in selecting assets of the estate for distribution under section 14-5425, subsection A, in utilizing powers of revocation or withdrawal available for the support of the protected person, and exercisable by the conservator or the court, the conservator and the court shall take into account any known estate plan of the protected person known to them, including the will, any revocable trust of which the person is settlor, and any contract, transfer or joint ownership arrangement originated by the protected person with provisions for payment or transfer of benefits or interests at the person’s death to another or other persons. The conservator may examine the will of the protected person.
Terms Used In Arizona Laws 14-5427
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Conservator: means a person who is appointed by a court to manage the estate of a protected person. See Arizona Laws 14-1201
- Contract: A legal written agreement that becomes binding when signed.
- Court: means the superior court. See Arizona Laws 14-1201
- Estate: includes the property of the decedent, trust or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Arizona Laws 14-1201
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Protected person: means a minor or any other person for whom a conservator has been appointed or any other protective order has been made. See Arizona Laws 14-5101
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).