Arizona Estate Planning

Arizona Estate Planning

Arizona estate planning is essential for those who have minor children, own property or wish to specify details relating to their health treatment in the instance of incapacitation. An estate plan combines a number of documents, including wills and trusts, in order to manage and make arrangements for assets while the person is alive and after their death. It also includes a health care plan that specifies who will make decisions in the case the client becomes incapacitated.

Wills and Trusts

Two of the most important documents in the estate plan are the will and the trust. In Arizona, a will is required to specify who receives the estate; a lack of the documents mean this is determined through Arizona law of interstate succession. It also names the choices for the personal representative of the estate and a guardian who is responsible for care and provision for any minor children. The trust specifies how and when assets are alloted after death and states the money is left for minor children, naming a trustee to manage these funds who may differ from the named guardian.

Arizona Estate Planning Lawyer

An Arizona estate planning lawyer can help with the daunting task of trust planning. It is important to investigate the experience the lawyer has to ensure the client receives the services from someone qualified for estate planning, and who is familiar with Arizona laws. Trust planning involves consulting with the Mesa estate planning lawyer to decide what type of trust is the most suitable for the client. There are five types of trust: credit shelter trust, generation-skipping trust, qualified personal residence trust, irrevocable life insurance trust, and qualified terminable interest property trust.

It is essential that the will and trust are well written to protect against misunderstandings, fraudulence, taxes and fees. The Phoenix estate planning lawyer can help to give expert legal advice in all the aspects of estate planning, answer clients’ questions and prevent clients from drawing up improper wills and trusts by attempting to complete the process without assistance.

**This blog is written by a third party and nothing in this blog should be taken to constitute professional advice or a formal recommendation and we exclude all representations, warranties, legal liability or responsibility relating to its content. The information in this blog is for general information purposes only.