How to find an Estate Planning Attorney in Phoenix near you?
An Arizona Phoenix Estate Planning Lawyer near you will help you with your estate plan needs. Schedule consultation today.
A CNBC report found that over 60% of Americans didn't have an estate plan. With the pandemic putting things into perspective, the role of Phoenix estate planning attorneys is becoming more and more prominent.
But why should you hire lawyers during this process? Why do you need a lawyer in Phoenix?
That's what we're here to look at today. Read on to find out more about how your attorneys can help you prepare your estate for the future.
What Is an Estate Planning Attorney in Phoenix AZ?
A lawyer is an experienced legal professional who is an expert in state and federal laws that affect your estate. This usually includes laws that inventory, disperse, and tax your estate after death.
Estate plan lawyers understand that your estate is a personal matter, and handles each case as such. They know that there's no "one size fits all" solution to estate planning.
Some law groups in Phoenix believe that all clients should get a trust. Families have unique needs and the best attorneys will tailor made it to you. A Trust is not for everybody as it can cause issues like not being able to apply for medicaid.
A law firm should never just click buttons and give the same product to all clients. That is why free consultations are important. You don't want our life savings spend in litigation after your death. Serving the clients correctly to keep them out of court is important.
A law degree train lawyers in figuring out and explaining the finer details of how your estate will be dispersed and all other logistics involved with your assets. Their skills are readily applicable to most, if not all estate-related cases.
What Does an Estate Planning Attorney Do in Phoenix Arizona?
Lawyers help you plan and create an estate plan that fits both your needs and the needs of your family and beneficiaries. They also help transfer any assets into a trust and oversee how they're administered.
If guardians for your children are needed, they'll help you appoint the right ones on your Last Will and Testament. There are also tax and wealth implications with estate planning. These lawyers are trained to assist with this as well.
In the event that you want to provide funds to a charity, they can assist in that as well. They'll will also help you with powers of attorney, like a financial or general power of attorney, a medical or health care power of attorney, as well as a Living Will.
Sometimes an emergency arises that puts your estate into question, such as the death of a beneficiary. A trusts and wills attorney can help you prepare and be with you as you navigate these situations. The best estate planning probate lawyers will draft contingents for that so you don't have to worry about such a sad situation like that.
Finally, an estate planning attorney is there to answer any and all questions about Arizona or Phoenix laws or other legal matters related to their practice area. Whatever questions you have, they'll do their legal search and find the answers.
They should also advise in how your business fits into your estate. Having a business has implications in how your estate should be handle and the best attorneys can help you with that. Our law office in Phoenix can handle that.
Benefits of Hiring an Estate Planning Attorney in Phoenix
Planning your estate is often very personal, so some might find it strange to bring in a third party during this process. That said, there are plenty of benefits to hiring an estate planning attorney:
Up-to-Date with State and Federal Laws
There's a common misconception about wills and trusts in that they can be drafted by non-lawyers. The reality is that they can do more harm than good if not properly done.
During that process, estate planning portfolio can change dramatically. For example, if you get married or divorced, that greatly affects your estate. If you start a business your estate will be affected as well.
When you have children, they enter the conversation, you will need legal guardians and new beneficiaries. Big purchases such as property or other assets factor into your estate as well. The deed needs to be compliant with Arizona law and, if you have a trust, properly added to your family trust.
An estate planning attorney in Phoenix helps organize these details when you go to the process. That way, you're more prepared when you feel it's time to finalize your planing.
Arizona State laws are always evolving. Tax laws are always evolving. Federal laws are always changing. This doesn't exclude estate laws, which is why having an estate planning attorney is so crucial.
They're trained to ensure that your estate is within all relevant guidelines. If you're confused about a law's language or don't understand what it's for, an attorney can clear that up for you. That is why the spend so much time working in a law degree. The know trust law and trust administration. The best lawyers know probate law, tax law and elder law. Some will also do litigation. Their services are much more comprehensive than just drafting documents.
Your estate plan will need to be update as the time passes, families change and laws change. An attorney helps pull up relevant Phoenix and Arizona laws to make sure everything is in legal compliance at all times.
Reflect Your Wishes
Estate planning is often a complicated process, which means someone's wishes need to be properly taken care of if they are important to you. Attorneys who work with you from day one ensure that your estate plan reflects your wishes as best as they can.
Miscommunication can happen during the state planning process. An attorney irons out these smaller details and can help amend your estate to make sure they're written exactly as you want them.
You need to find a lawyer that you trust as you will develop a long term relationship with him or her.
Documents Tailored for You
Working with a trusts and estates attorney in Phoenix means all of the relevant documents are perfectly aligned with your vision. Attorneys help draft plans that accurately reflect your circumstances.
This means you can heavily customize your estate and make it your own. Doing so relieves the pressure of disgruntled beneficiaries or assets going into the wrong hands.
If you decide to create a revocable living trust they can tailor it to minimize administration costs, to give you asset protection and also to avoid litigation. A trust is a great instrument to protect you family but it is not for everybody. Read more about the benefits of creating a revocable living trust in Arizona in this article, click here.
How Much Does It Cost to Create a Will in Arizona?
Now that you know all the benefits of hiring an estate planning attorney, you might be wondering how much this process costs. The answer varies for Phoenix residents, but the range hovers around $1,000 to $1,500 for a Will.
A Trust usually start at $2,000 and more complex trusts, the types of trusts that will have specific tax law, can cost up to $10,000. Dynasty trust are usually recommended for Blended families and they usually start at around $4,500. Working with a law office that has experience with blended families can be the difference between leaving an inheritance to your children or not.
The complexity of someone's will affect the costs. Things like the number of beneficiaries, geographic location, and other factors are relevant when accounting for wills.
Having property in multiple states will also affect your trust and the deeds that your need.
It's important to have a conversation with your lawyer about their rates. That way you can properly budget your estate plan costs from the outset. We prefer to work on a flat fee basis to avoid excessive cost. Creating a long term relationship with your lawyer is extremely important.
When selecting an attorney ask about long term costs as well. If you create a trust ask about the trust administration cost. If don't plan to avoid probate ask about probate costs. If you are worried about your family members fighting ask about litigation costs.
Understanding Arizona Estate Planning Probate
The role of the best estate planning lawyer in Phoenix can't be understated. Use this guide to help you understand what they do, why their work is important, and how you can integrate them into your personal estate plan.
Are you looking for reliable estate planning AZ attorneys experienced in estate plan, trusts, and elder law? Contact Citadel Law Firm today and we'll get you started on a solution right away! Call (480)565-8020 to schedule your free estate planning probate consultation today. If you prefer click on the button below to schedule a consultation. Our estate planning probate attorney in Phoenix, AZ are looking forward to help you.
Citadel Law Firm is a law office located in Chandler, AZ. Our law group specialize in estate planning, revocable living trust, trust administration, asset protection, power of attorney. We help families avoid probate and protect assets as well. Our lawyers have years of experience and they are fully licensed with the State Bar of Arizona. Our estate planning services are fast, reliable and affordable. Estate Plan and Probate are the main practice areas.