Wills and Trusts Lawyer Scottsdale AZ
Find a Wills and Trusts Lawyer Scottsdale AZ for Your Family
Our law firm is the kind of wills and trusts lawyer Scottsdale AZ residents can count on for honest legal services. We know that you have worked hard for your money and most likely continue to work hard to put some away for your future generations. Naturally, you probably want some control over what will happen to all of your assets upon your death or incapacitation. As a Scottsdale wills and trusts lawyer, we have helped many clients over the course of many years to create these legally binding documents; thereby, give peace of mind to them and their loved ones. If you would like to know more how we can help, please call us. We offer a free consultation on Arizona estate planning.
Knowing the Difference Between a Will and a Trust in Arizona
There is a difference between a will and a trust in an Arizona estate plan. Sometimes you only need one and other times you will benefit from having both. Even if you have little savings, you do have an estate as well as several different strategies to choose from so that your assets can be properly distributed in a timely manner. This is known as an estate plan and can be drafted by a wills and trusts lawyer in Scottsdale Arizona.
What Is a Will in Arizona?
A will is a written legal document that is signed and witnessed by a public notary or wills and trusts lawyer in Scottsdale AZ. This document lays out how your property will be distributed upon your death. It can be revocable or amended while you are alive. You may also appoint a legal guardian for minor or special needs children.
What Is a Living Trust in Arizona?
A living trust offers the lifetime and after death management of your property and assets. You can serve as your own trustee or name a trustee. Either way, the trust will provide for a successor when you die or are incapacitated. With a trust, the court is not required to intervene; which does hold true in the case of a Will. Living trusts are used to manage finances, businesses, properties, real estate, retirement income, insurance policies, and other assets. If you are ever disabled or incapacitated because of an accident or illness, your successor of the trust can take over. This is beneficial because court supervision of the distribution of your assets is not necessary. A wills and trusts lawyer Scottsdale AZ families turn to for advice can discuss your questions during a free consultation. Some benefits of a living trust you might want to consider include:
- You can avoid probate
- You plan and prepare for the possibility of incapacitation
- You control what happens to your assets
- A trust can be used for all sizes of estates
- Financial affairs do not become public record
The drawbacks of a trust include:
- A trust can initially be more costly to establish, but in the long run, be more affordable
- A trust must be actively managed
- A trust only controls assets that have been included in it
- If any assets were not included, and you die, your estate will go through probate
- Without a will and trusts lawyer Scottsdale AZ provides, you could risk large tax problems
Call Our Wills and Trust Lawyers
If you would like to create a will or a trust, you can speak with one of our Wills and Trust attorneys. As a wills and trusts lawyer Scottsdale AZ depends on, we are there for you. Call us at (480) 947-4339 to schedule your free estate planning consultation.