Rigorously computed Penrose diagrams are plotted for a semiclassical model of black hole formation and evaporation, in which black holes form by the accretion of infalling spherical shells of matter and subsequently evaporate by emitting spherical shells of Hawking radiation. The method allows arbitrary interior solutions of the form ds 2 = −f (r) dt 2 +f (r) −1 dr 2 +r 2 dΩ 2 , including singular and nonsingular models. Matter dynamics are visualized by explicitly plotting proper densities and pressures in the diagrams, as well as by tracking the location of trapped surfaces and energy condition violations. The most illustrative model accurately approximates the standard time evolution for black hole thermal evaporation; its time dependence and causal structure are analyzed by inspection of the rigorous diagram. The resulting insights contradict some common intuitions and assumptions, and we point out some examples in the literature with assumptions that do not hold up in our more detailed model. Based on the new diagrams, we argue for an improved understanding of the Hawking radiation process, propose an improved definition of "black hole" in the presence of evaporation, and suggest some implications regarding information preservation and unitarity.