As our parents age, most of us find ourselves more concerned about their physical, mental, and emotional wellbeing. But there’s another aspect of your parents’ lives that may leave you with an unsettled felling: their estate plan. In our society, discussing sensitive...
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Estate Planning
The importance of a financial power of attorney
People who are going through the estate planning process usually get advice on the importance of advanced directives such as a living will or a durable power of attorney to accompany their will or trust. But as part of planning for the future, it is wise to consider...
The benefits of a spendthrift trust in Arizona
A common estate planning question for wealthy Arizonans is how can the assets in the estate be protected from claims of creditors of the beneficiaries and how can the beneficiaries (or some of them) be prevented from squandering their inheritance. The answer to both...
What is the representative’s role with a living will in Arizona?
In Arizona, people who are taking the necessary steps in having a comprehensive estate plan will need to consider all the potential scenarios that might impact their life. One that frequently arises is having a living will. This is also referred to as an advance...
Including a charity in an estate plan
People may choose to include charities in their estate plan for a variety of reasons. It may be to honor a family tradition or to support an organization that provided services to them during their lifetime. Bequests A simple way to contribute to the charity is to...
What happens if you die without an estate plan?
Death is a certainty that every Arizona resident must contend with. Though individuals cannot predict when they will pass, they can take control of their end-of-life estates by preparing and executing estate planning documents. Different estate planning documents can...
Estate planning for new parents
Becoming a parent for the first time is an exciting, and sometimes nerve-wracking, experience. Between readying the nursery and going to doctor appointments, new parents in Tucson may want to consider another responsibility: estate planning. Young parents may want to...
Why you need an estate plan if you’re in a blended family
If you’ve remarried at some point in your life, then your family dynamics might be more complicated than you think especially if you look at them from an estate planning perspective. This is because you may have developed family-like relationships with individuals who...
Why would I consider appointing an attorney as trustee?
When residents of Tucson think about creating a will or trust, they will have to think who they want to appoint as their trustee or personal representative. Being a trustee, or a personal representative or conservator, is a significant responsibility. The trustee will...
When is a good time to update and review my estate plan?
Setting up an effective estate plan is an important step for anyone to take. Knowing how and when to update an estate plan is an equally important part of an estate plan that estate planners should also be prepared for. When is a good idea to update and review my...