Estate planning is one the most important decisions you can make in order to ensure that your property transfers are secure. This involves planning ahead who will be your legal heir after your death. Here comes the role of estate planning attorney. Estate planning attorneys in Arizona design a custom estate plan for you. You can pop over to this website to hire qualified estate planning attorneys who are here to help you.
Although estate planning can have many objectives, the ultimate goal of the estate plan is to transfer all assets to the legal beneficiary. Other goals include minimizing taxes and appointing guardians for minor children.
These terms should be considered before you begin estate planning.
Will: A will is a legal document which states who will inherit your property upon your death. A last will is a legal document that allows your loved ones to avoid probate and avoids disputes about how assets should be distributed.
Living trust: A trust is similar in structure to a last will. It allows you to transfer your assets to one individual or organization. You can transfer all of your assets to yourself, or to another person you trust (called a trustee) when you create a living trust. You are taxed when the trustee manages your estate for your beneficiary.
A power of attorney is a legal right that allows a person or an organization to manage your affairs in the event of your death or disability. You are known as a trustee when you name someone to manage your case.
An Arizona estate planning attorney is a good choice if you don't want your loved ones to be stuck with a frustrating and time-consuming probate process after your death. If you don't complete estate planning before you pass away, your family may come across many difficulties during probate. Contact an estate planning attorney firm.