Estate Planning In Arizona

The Need For an Estate Plan

In today’s world, estate planning is just as important as having assets in the first place. We all want to control what happens to our stuff while we are alive. However, we quickly give up control once we pass away. That is exactly what will happen if you pass away without a Will or proper estate plan. At HLG, our experienced attorneys will guide you through the process. We will ensure that in the midst of their other responsibilities, you do not leave a big mess for your family to clean up when you pass away.

In Arizona, when you pass away without an estate plan, your assets are at the mercy of our state’s laws on intestate distribution. This may not be the wish you had for your assets. Maybe you wanted to give everything to your wife, but you have children from a previous marriage. If you don’t have a Will, that will affect her ability to receive everything.

Maybe you wanted to give money or property to charity. If you don’t have a Will or other estate planning tool such as a charitable trust, you will not be able to do so. You will not be here to do it. That is the unfortunate thing about death.

Snowbirds and Retirees

Like a lot of people in the Buckeye, Surprise, and Goodyear areas, this was not your first stop along the way. Arizona is famous for its snowbirds and retirees. Many of you who are newer residents still have assets, businesses and properties in your previous home states. You need to know what to do with those assets in your estate plan. A trust or other tool may be just the thing you need in order to protect those assets from probate, and potentially, a family feud over who gets them.

*Disclaimer: This blog post provides general information and is not intended to serve as legal advice. Legal matters are often complex and vary by jurisdiction. For advice on your specific situation, it is recommended that you consult with one of our experienced attorneys.

Estate Planning Is Not Just for Retirees

Estate plans can be tailored for people of all walks and status in life to help them plan for the future. It does not matter if you are 30, 50, or 100, it would be wise to think about what would happen if you were to die today. It does not matter where you are in life, we all know that anything can happen. An experienced estate planning attorney will help you put together a plan that makes sense for you and your loved ones.

Our Attorneys Can Help You

Understanding trusts is essential in making sound estate planning choices. While trusts may seem exclusive to the affluent, they provide benefits for all families. A revocable trust, although it doesn't offer asset protection, circumvents probate, saving both time and expenses. Choosing a trust instead of a will streamlines administration and guarantees that your assets are distributed according to your preferences.

In order to navigate this intricate terrain, seek our expertise today. Let us assist you in making informed decisions tailored to your estate planning and asset protection requirements.