Arizona Estate Planning Attorney Scottsdale
An Arizona estate planning attorney Scottsdale residents trust understands that many people tend to avoid planning their estate. Whether it is due to the time involved or the belief that they will have the opportunity to plan in the future. However, the procrastination can be damaging to the future of your estate. Unfortunately, accidents do occur that we cannot plan for. Therefore, it is recommended to begin planning your estate while you are still in good health.
Thankfully, you do not need to plan your estate without help. Our law firm has been helping individuals formulate estate plans for decades. Each Arizona estate planning attorney Scottsdale families recommend is aware of several strategies that may be utilized in order to distribute your assets upon falling seriously ill or passing away.
Scottsdale Arizona Estate Planning
The main strategy utilized in planning your estate may involve formulating a Last Will and Testament. Your Arizona estate planning attorney Scottsdale locals depend on from Arizona Estate Planning Attorneys can assist in this process.
Each state will have their own laws regarding how to establish a legally valid will. For certain states, the will must be written by hand and signed by the testator. It is a common requirement for witnesses to be present for the development and signing of the will. Once you pass away, your last will and testament may be presented to the probate court to be verified. After the will has been confirmed to be legitimate, the probate court may use it to distribute your assets as described in the will. If you do not prepare a will or the courts cannot verify its legitimacy, your assets will be separated as the court deems fit.
Once your last will and testament are established, consider reviewing your beneficiaries. Your estate planning attorney Scottsdale AZ couples rely on can assist you with this. Retirement plans will provide you the opportunity to name a beneficiary should an accident occur. These plans are often protected from debt collectors in the event you pass away while still in debt. Debt collectors may be able to take money from your estate before assets are distributed to beneficiaries, however, retirement plans are exempt from being used to pay off any remaining debt. In cases of divorce or the birth of a child, you may wish to alter your beneficiaries and appoint a guardian for your child. Review your beneficiaries after any life-altering event.
Contact an Arizona Estate Planning Attorney Scottsdale Locals Depend On
If the will is formulated properly and the beneficiaries are formally assigned, your money should remain in the family after your passing, assuming all debts have been paid. A will can provide much-needed structure in determining how your assets should be allocated. Let our estate planning attorney in Scottsdale AZ help you prepare a plan for your assets.
Call us at (480) 947-4339 and schedule a consultation. Our Arizona estate planning attorney Scottsdale provides may be able to provide you with an estate plan that distributes your assets according to your wishes.