Estate planning is often described as the process of deciding what happens to your assets after you die. Wills, trusts, beneficiaries, probate, and inheritances are commonly associated with estate planning, so it is understandable why many people think an estate plan only becomes relevant at the end of life. If you are relatively young, [...]
Many people associate trusts with wealthy families, large investment portfolios, and complicated estate tax strategies. Because of this perception, an Arizona resident with a home, retirement accounts, savings, personal property, and a modest investment portfolio may assume that a trust is unnecessary. After all, if you are not a multimillionaire, why would you need [...]
Creating a will is one of the most important steps an Arizona resident can take to communicate how they want their property handled after death. For some people, however, the idea of creating a will brings to mind formal documents, attorneys, witnesses, and notarization. This can lead to a common question: Can you simply [...]
Creating a will online can seem like an easy way to put an estate plan in place. With a few clicks, an online service can generate a document addressing beneficiaries, personal representatives, property, and other estate-planning decisions. For Arizona residents looking for a convenient and inexpensive option, an online will template may seem like [...]
Estate planning is often associated with retirement, aging, or leaving an inheritance to children and grandchildren. Because of that association, younger adults may assume they can address estate planning later in life, after they have accumulated more wealth or reached retirement age. If you are healthy, have relatively few assets, or are just beginning [...]
Probate has a reputation for being complicated, expensive, and stressful. When people hear the word “probate,” they may picture a family spending months or even years dealing with court filings, paperwork, creditor claims, disputes among heirs, and legal expenses before anyone can receive an inheritance. Stories about difficult estates can make probate seem like [...]
Estate planning is sometimes misunderstood as a process that requires you to surrender control over your property, finances, or personal decisions. You may worry that creating a trust means someone else will control your assets, that naming a power of attorney means giving another person authority immediately, or that putting your wishes in writing [...]
For Arizona homeowners, adding a child, spouse, relative, or another trusted person to a property deed may seem like a simple way to make sure that person receives the home after death. The idea can be especially appealing to people who want to avoid the time, expense, or complexity they associate with estate planning [...]
Creating a will is one of the most important steps a person can take when planning for the future. A properly prepared will allows you to identify who should receive certain property after your death, nominate a personal representative to administer your estate, and express your wishes regarding the distribution of assets. For many [...]
Estate planning is often associated with wealthy individuals who own multiple properties, businesses, investment accounts, or other significant assets. This perception can make middle-class Arizona families believe that estate planning is unnecessary for them. However, estate planning is not simply about deciding what happens to substantial wealth after someone dies. It is also about [...]