[AZ] Can my Arizona beneficiary deed include one adult and two minor children?
Can my Arizona beneficiary deed include one adult and two minor children?
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Yes, typically you can list minor children on a beneficiary deed, and their parent or guardian can manage their interest in the property until they are adults if necessary (Ariz. Rev. Stat. § 33-405). Arizona also adopted the Uniform Transfers to Minors Act, which allows a person to transfer property to a minor by appointing a custodian to manage the property until the child turns 21. If the minor has a custodian, your deed could include language similar to this: "I hereby designate Jane Doe, as custodian for John Smith under the Arizona Uniform Transfers to Minors Act, as the beneficiary of the described property."
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Can my Arizona beneficiary deed include one adult and two minor children?
Lexi, Chatbot
I understand you have questions about your Arizona beneficiary deed. Who do you intend to designate as the beneficiaries?
My best friend and my two grandchildren.
Lexi, Chatbot
Is there anything else the lawyer should know before I connect you?
I just want to know if it's legal to include minor children in my beneficiary deed.
Evan
Hi, Evan here.
Hi.
Evan
Yes, typically you can list minor children on a beneficiary deed, and their parent or guardian can manage their interest in the property until they are adults if necessary (Ariz. Rev. Stat. § 33-405). Arizona also adopted the Uniform Transfers to Minors Act, which allows a person to transfer property to a minor by appointing a custodian to manage the property until the child turns 21. If the minor has a custodian, your deed could include language similar to this: "I hereby designate Jane Doe, as custodian for John Smith under the Arizona Uniform Transfers to Minors Act, as the beneficiary of the described property."
The adult named on the deed couldn’t act as the custodian for the minors listed?
Evan
Typically not, unless they are also the minor's parent or guardian.
Oh, I see. Then I’ll just put my best friend on it. She’ll do the right thing.
Evan
A trust could be an alternative if that is your goal.
It is. I desire this deed to keep my will/trust from being contested by my children.
Evan
I understand. Please let me know if you have any additional questions I can help with. Thanks for using AskaLawyer.
Evan
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