What is a disclaimer and how does it work?

A disclaimer is a legal document that details how a person’s estate is to be distributed upon their death. It clarifies how assets are to be divided, identifies beneficiaries and even outlines payment of any outstanding debts. An estate plan can include a will, trust, power of attorney, health care surrogate, or living will in addition to a disclaimer. In Arizona, a disclaimer must be in writing and signed by the person who is making the disclaimer as well as two witnesses. This document is filed with the court after the death of the person who made the disclaimer. When the disclaimer is filed, the assets are distributed according to the wishes of the person who made the disclaimer. In some cases, the disclaimer can be revoked, or changed, before the property owner’s death. This allows the estateholder to make changes to their wishes or asset distributions as circumstances change. The disclaimer may also be amended if the estateholder wishes to add beneficiaries or change the distribution of assets among beneficiaries. A disclaimer can provide great peace of mind to people who want to ensure that their estate and assets are distributed according to their wishes. It can provide a sense of security to the deceased and those left behind knowing that the wishes of the person who made the disclaimer will be followed. By properly planning one’s estate through a disclaimer, the estateholder can ensure that their goals for their estate’s distribution are met.

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