Arizona Laws 14-2511. Testamentary additions to trusts; requirements; effect of revocation
A. A will may validly devise property to the trustee of a trust established or to be established:
Terms Used In Arizona Laws 14-2511
- Devise: To gift property by will.
- Devise: when used as a noun, means a testamentary disposition of real or personal property and, when used as a verb, means to dispose of real or personal property by will. See Arizona Laws 14-1201
- Governing instrument: means a deed, will, trust, insurance or annuity policy, account with pay on death designation, security registered in beneficiary form, pension, profit sharing, retirement or similar benefit plan, instrument creating or exercising a power of appointment or power of attorney or supported decision-making agreement or a dispositive, appointive or nominative instrument of any similar type. 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
- Property: includes both real and personal property. See Arizona Laws 1-215
- Testator: A male person who leaves a will at death.
- Testator: includes a person of either sex. See Arizona Laws 14-1201
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional or successor trustee, whether or not appointed or confirmed by the court. See Arizona Laws 14-1201
- Will: includes a codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. See Arizona Laws 14-1201
1. During the testator‘s lifetime by the testator alone, by the testator and some other person or by some other person, including a funded or unfunded life insurance trust, even if the settlor has reserved any or all rights of ownership of the insurance contracts.
2. At the testator’s death by the testator’s devise to the trustee if the trust is identified in the testator’s will and its terms are set forth in a written instrument other than a will executed before, concurrently with or after the execution of the testator’s will or in another individual’s will if that other individual has predeceased the testator, regardless of the existence, size or character of the corpus of the trust. The devise is not invalid because the trust is amendable or revocable or because the trust was amended after the execution of the will or after the testator’s death.
B. Unless the testator’s will provides otherwise, property devised to a trust described in subsection A is not held under a testamentary trust of the testator but becomes a part of the trust to which it is devised and must be administered and disposed of in accordance with the provisions of the governing instrument that states the terms of the trust, including any amendments made before or after the testator’s death.
C. Unless the testator’s will provides otherwise, a revocation or termination of the trust before the testator’s death causes the devise to lapse.