Last Will and Testament Basics
Last Will and Testament - The Basics A last will and testament is a document that allows you to outline our wishes for how you would like your estate to be taken care of. A will is a probate document. It is a common misconception that a will avoids probate. Rather, it is a list of instructions for the court to follow in regard to the distribution of your estate. In this article, we [...]
Revocable Living Trust Basics
Revocable Living Trust A cornerstone of a complete estate plan is a revocable living trust. It allows you to avoid probate and have control over what happens to your money when you pass. In this article, we will discuss revocable living trust basics. This includes how they work, their advantages, and how to create one. How a Living Trust Works A revocable living trust is an entity that holds assets for the benefit [...]
Estate Planning Basics
Estate Planning Basics: A Beginner's Guide Many people think that estate planning is too expensive for them or they do not have enough money to need one. Many more put it off because they do not like contemplating their own mortality. No matter your situation in life, estate planning is a vital component. This article is a guide to estate planning basics. It will go over the definition of estate planning, who needs [...]
5 Steps to Take After Creating a Living Trust
What to Do After Creating a Living Trust Leaving your estate planner’s office with your executed documents is not the last step of a successful estate plan. There are still several steps that you will need to take after creating a living trust. In this article, we will go over five of these steps. 1. Deed and Record Real Property For a living trust to be a successful estate planning document, it [...]
Informal vs. Formal Arizona Probate
Arizona Probate If you had a loved one that recently passed you may find yourself confronted with a strange new word; Probate. In each state, probate will entail slightly different things and follow their own process. In this article, we will focus on Arizona Probate and answer four common questions: What is probate? What is an informal probate? What is a formal probate? Where can you find help? What is Probate Simply put, [...]
Powers of Attorney
Powers of Attorney: Essential Estate Planning Documents Powers of attorney are an essential component of every successful estate plan. They allow you to name a trusted person to take care of specific things for you when you are incapacitated. There are several different types. The main ones you should have are a durable financial power of attorney, a healthcare power of attorney, and a mental health care power of attorney. In this article, we [...]