Preparing for tomorrow is more than just making a will. An estate planning attorney in Chandler not only drafts a will but also helps residents build a holistic plan that protects assets, facilitates inheritance, and avoids legal complications. Because Arizona has specific probate and community property laws, it is a good idea to hire a local estate planning attorney to develop a legally compliant plan.
Why You Need an Estate Planning Attorney in Chandler
Improper planning can cause your estate to go through a complicated probate process, excessive taxation, and disputes among family members. A competent estate planning attorney in Chandler will not only help you create an optimal estate plan but will also guide you through the maze of Arizona state laws.
Core Services Your Attorney Provides
The services of an estate planning attorney in Chandler typically include the following:
- Wills and Trusts: Drafting of legally binding documents that outline how your assets will be distributed.
- Healthcare Directives: Give someone you trust the authority over your medical decisions in case you are unable to do so by setting up a health care power of attorney.
- Probate Guidance: Efficiently navigate Arizona’s probate process. As per A.R.S. § 14-3971, if the value of personal property in the estate is less than $200,000, the estate may be eligible to use a simplified small estate affidavit, which completely avoids probate.
Considerations of Estate Planning in the State of Arizona
Community property laws in Arizona have a huge influence on estate planning. A competent estate planning lawyer in Chandler can explain to their clients that retirement accounts, life insurance policies, and beneficiary designations are non-probate assets; therefore, proper estate planning is necessary to ensure these assets are properly accounted for. Besides, the lawyer will explain to the client the probate rules regarding the inventory submission within 90 days and the allowance of four months for creditor claims.
Trust Funding and Probate Avoidance
There is no guarantee that a trust will serve your purpose if you do not fund it adequately. Your estate planning attorney in Chandler will go through the process of changing the ownership of your assets from yourself as an individual to yourself as the owner of the trust, and only then will these assets escape probate. If a trust is not funded properly, it does not matter how well it has been drafted. In the end, your family will face the informal probate process at the Maricopa County Superior Court.
When to Update Your Plan
Your estate plan must change if your life changes. If you get married or divorced, have a baby, move to a different state, or make a big change in your finances, it’s time to take another look at your estate plan. The estate planning attorney in Chandler can help you update your trusts, change your powers of attorney, and ensure that your beneficiary designations reflect your intent. In order to secure your legacy, you need the help of a professional estate planning lawyer who knows both the Arizona laws and your family situation very well, instead of simply using standard forms.
