What Is “Estate Planning” or
Writing a Will or a Trust all about?
Answer: What ever we do to Provide, Plan and Protect
for the Relationships, Activities, and Things we value.
Our Goals are to help you identify, refine, and establish your goals — and them prepare the documents that will implement them as you direct.
WILLS, TRUSTS, ESTATE PLANNING
- Everyone should have their own will, even if they do not believe they have much in property or belongings.
- Believe it or not, the Arizona legislature, (in its infinite wisdom), has already written a will for you. The problem is it may not distribute your estate as you would want, especially if there are children from previous marriages.
- A will becomes effective or operative only when you die. Until you die, it has no effect and can be changed at any time while you are competent.
- After death, there are two simple but significant issues: how are debts paid for, and who receives whatever assets there may be.
- A Will appoints the personal representative, and should give clear instructions on these issues.
WHAT ABOUT A TRUST OR REVOCABLE LIVING TRUST?
A trust is a living document that serves to manage the properties assets income and investments that you have placed inside the trust. The decision to form a trust now, or allow the probate process to handle your affairs after death is one that needs careful informed legal advice and counsel. Not everyone needs a trust. There may be other creative, less expensive, and more effective means to handle your affairs while you are alive, and after your death. Our initial consult is designed to understand your needs and concerns, and prepare the least costly and most effective solution to accomplish your current life goals and your wishes for your legacy and your heirs.
When you make an appointment to discuss writing a will, preparing for the next generation, we will cover many topics, giving advice, direction, and counsel. These may include:
- Your Will – what it does and why.
- A “Living Will” – your directions in case of incapacity
- Health Care Directives (Health Care Power – some one else has the power to deal with incapacity)
- Legal Power of Attorney – (not health care, but for monies and property)
- A Living Trust – also known as a Revocable or Family Trust, one place management of assets, distributions – and for Elder Protection issues
- Beneficiary Deed – designates who receives Real property at your death without probate
- Vehicle Beneficiary Designation see above, but for your vehicles
- Pay On Death – Contract Provisions with Bank Accounts, Life Insurance, Annuities, IRA / Retirement Accounts – these go direct and not through probate
- Probate – designed to transfer title to property, and to make sure bills are paid – and we can avoid it if that is wise, economical, and appropriate (see Living Trust)
For our initial Consultation, we do ask that you bring with you some information about you, your family, the persons you want to bless after your passing. We like to understand if you have children together, or each have your own. We have enclosed some information forms for you to consider. Filling out as much information as you can helps us – but we will go over all of this at your appointment.
You may also want to bring information regarding your land, vehicles, banking and financial accounts, and other items of value we should review.
CONTACT US TODAY TO SCHEDULE A CONFERENCE. We will provide you with a simple form for information to bring with you, or you can download the file below asking the basic questions about your family and the ones you want to protect! Or, download the file below!