Wills and Trusts Lawyer Scottsdale AZ
A will is typically used to dictate who will be receiving your property and assets after your death and will name an individual to be legally responsible for carrying out your wishes. The main difference between a will and a trust is that the will is carried out after the death of its creator. A will must be probated in court after the person’s death to be verified. If you have questions about the merits of a will versus a trust, you should contact a wills and trusts lawyer Scottsdale AZ relies on for advice.
Arizona Living Will
A living will describes your wishes in terms of medical care in the event that your health is in decline and you cannot adequately voice your wishes. This is used for information concerning life support and resuscitation wishes. As a wills and trusts lawyer Scottsdale AZ can tell you, a living will be a good document to have if you believe you might have health issues down that line and have specific instructions for your treatment.
A living will does not outline property concerns or division of assets but is strictly focused on medical concerns. If you have immediate medical concerns you shouldn’t hesitate to contact a local wills and trusts lawyer in Scottsdale AZ to document your wishes.
Arizona Family Trusts
A trust outlines your wishes regarding your assets, both while you are living and after your death. Its main difference from a will is that it bypasses the process of probate by directly naming a trustee. A Scottsdale wills and trusts lawyer may advise you to look into a trust if you have a complex legal situation that you wish to have handled directly by your named trustee.
If you have any questions about the merits of one legal document versus the other do not delay contacting a knowledgeable estate planning attorney so that you can have the best legal protection you deserve. Each individual’s circumstances will have an impact on which document will best protect and execute their wishes. It is important to make a note of all your assets including real estate, artwork, jewelry, stocks, and bonds that you wish to protect so that your lawyer can be well advised of your goals. The more we know, the better we can help. If you need assistance getting your future plans in order call a wills and trusts lawyer Scottsdale AZ counts on today for a consultation at(480) 947-4339.
Additional Questions about Wills and Trusts
Before you start working with a wills and trusts lawyer Scottsdale AZ regularly consults with, you should understand the importance of having a will. If you have assets in any form, it’s a step you should consider, no matter your age. It can also be an enormous help to have the insight of a Scottsdale wills and trusts lawyer when you begin the process of estate planning. Odds are good that you’ll have a lot options, and he or she will in a position to answer them for you.
The following are a few frequently asked questions about wills that we tend to encounter at Arizona Estate Planning Attorneys, PC. We specialize in this area of the law, and are available to consult with you about it; if you have additional questions about any of this information, please don’t hesitate to call us at (480) 947-4339.
What happens if someone passes away without a will in place?
As a wills and trusts lawyer Scottsdale AZ recommends will tell you, if a person dies without having created a last will, his or her assets will be distributed per state laws; that is, they will either be subject to probate or passed through a court in order to be lawfully distributed. Typically, this will lead to the assets going to the deceased person’s spouse, or split between his or her spouse and children; if the deceased person does not have any living immediate family, the state will seek to pass the estate to other living relatives. If he or she has no living blood relatives, the state will receive the estate.
What happens when someone passes away with a will in place?
That person’s property and assets will be dealt with per the instructions set forth in the will, as well as according to the state law.
Do you need a minimum amount of assets to make a will?
No; a person can draw up a will to distribute any amount of money or property. That said, because the distribution of assets has certain tax implications, it’s helpful to speak with a wills and trusts lawyer Scottsdale AZ residents can confide in regarding how these might play out.
What is the difference between a last will and a living will?
The difference between these two documents is that the last will is intended to distribute the assets of someone who has already passed away; a living will, on the other hand, is created to provide loved ones with health-related directives in the case of a person becoming incapacitated and unable to make their own end-of-life decisions.
How do I decide which of these is best for me?
Deciding what kind of will is best for you simply depends on your unique needs and circumstances. Set aside some time to look at your assets, and your family situation, alongside a wills and trusts lawyer Scottsdale AZ, knows for his or her experience, and thereby determine whether the last will or a living will is going to be better for the assets you have in your possession, and to protect your family.
Overall, a wills and trusts lawyer in Scottsdale AZ will tell you that it’s most important to attend to your estate and put some form of end-of-life documentation in place.
Contact Today for Guidance
When you’re ready to start the estate planning process, get in touch with us. We are committed to helping our clients protect their loved ones and draft their wills or other documents to manage their assets. To schedule a consultation with a wills and trusts lawyer Scottsdale AZ prefers, give us a call at (480) 947-4339.