Wills and Trusts Lawyer Chandler, AZ
Estate planning is a broad set of legal tools that (taken together) tends to be misunderstood. In a nutshell, estate planning helps to ensure that individuals can protect their own interests, and the interests of their families, through proactive planning for property distribution after death, end-of-life care and concerns related to the inevitability of passing away.
Estate planning is an important element to planning out the financial well-being of your family. Creating a will and any necessary trusts can not only reduce your potential tax burdens, but it can also provide for you family and ensure your wishes are carried out after you die. Citadel Law Firm PLLC is an estate planning firm that can help you to understand your options, set your priorities, and put into place the most important estate planning documents.
Creating a Will for Your Estate Plan
A will is an estate document that acts as a directive for your assets. Working with your Chandler, AZ wills and trusts lawyer, you can decide who will receive your property and under what conditions they will receive it. At the same time, you can be in control of naming the executor of the estate, or the person who will manage it after your death. If you die without a will, also known as intestate, the estate will go into intestate succession and will need to follow the respective rules and procedures of the state. Intestate succession laws are considered to be more of a “one size fits all” approach to the estate. Even though they have been created in an attempt to distribute an estate in a sensible way, they are not always ideal and may not meet your wishes. The process of probate may also become burdensome on your family. If this is any concern to you, you should consider retaining a Chandler, AZ wills and trusts lawyer to help you draft a legally enforceable estate plan.
The Steps to Creating a Valid WIll
The following are the basic steps to creating a will that is valid and will uphold in a court of law. As a Chandler, AZ wills and trusts lawyer might explain to you, these steps could vary depending on your personal circumstances.
- Take an inventory of all your assets.
- Establish a fair market value for the assets
- Make a realistic projection of how your spending and investments during your retirement might impact your estate.
- Consider your potential long term needs and how they will be financed.
- Talk with an estate planning lawyer about your assets and how they will be distributed.
In general, an estate plan, including a will, should be coordinated with your retirement plan. Your Chandler, AZ wills and trusts lawyer can be indispensable during this process.
Why Choose Us to Be Your Estate Planning Lawyer
We believe that our skills, knowledge, and advocacy will be an integral part of your estate planning. Not only do we wish to help you now, but we’d also like to make sure your estate plan remains up to date. As part of our legal services, we offer:
Annual Estate Planning Updates – If you choose, you can receive an annual estate plan, or trust update. This is often necessary when you’ve went through changes in your life, or there are new statues or tax laws.
Amendments – Any change in your personal circumstances will likely warrant an amendment to your estate plan.
Deeds – If you’ve purchased new properties, or large assets, we can transfer them into your trust, or include them in your will.
To speak with an experienced Chandler, Arizona wills and trusts lawyer about your unique estate needs, please contact our legal team today.