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estate planning terms

Understanding Estate Planning Terminology

When you create an estate plan, you may encounter unfamiliar legal words and phrases that can make the process a little bewildering. While your lawyer will explain everything in detail, you can get a head start by understanding some basic estate planning terminology before you meet with your attorney. In this discussion, East Valley estate planning… Read More
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Inheritance tax application form and pen.

Does Arizona Have Inheritance and Estate Taxes?

Questions about taxes on estates are common during the estate planning process and during probate administration of an estate. While the State of Arizona does not impose an inheritance tax or an estate tax, an Arizona estate and the beneficiaries or heirs of an estate may still owe taxes in some circumstances. The complexity of an estate, as well a… Read More
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personal representative of an estate

What Are the Duties of the Personal Representative of an Arizona Estate?

The personal representative of an Arizona estate is the individual with responsibility for probate administration of a deceased person’s estate. State law imposes substantial fiduciary duties on a personal representative. This article explains why understanding those duties is important, as well as what the responsibilities entail. Importance of… Read More
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living will

Should You Have a Living Will in Your Arizona Estate Plan?

The estate planning document commonly referred to as a living will can be the source of confusion. A living will is an entirely different and separate document from a last will and testament. The two documents accomplish very different goals. A significant difference is that including a living will in your Arizona estate plan is optional, while a l… Read More
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Categories: Estate Planning
power of attorney in arizona

Do You Need a Lawyer for an Arizona Power of Attorney?

In Arizona, a power of attorney must comply with provisions of state law to be valid. The statute includes requirements for the content and execution of a power of attorney, as well as provisions relating to the conduct of an agent designated in a power of attorney. While you technically don’t need a lawyer for an Arizona power of attorney, signi… Read More
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Categories: Estate Planning
What Does It Mean to Fund…

What Does It Mean to Fund a Trust?

If your estate plan includes a trust, establishing the trust requires more than executing the legal document that sets up the trust. Creating a trust involves a two-step process. The second step is to fund the trust by transferring property into it. Otherwise, the trust has no assets for the trustee to manage and distribute. The process of funding… Read More
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Categories: Estate Planning, Trusts
how a revocable living trust helps with the probate process

Benefits of a Revocable Living Trust as Part of an Estate Plan

A revocable living trust is a valuable estate planning tool that may help you achieve important personal and financial goals for yourself and your family. However, a living trust is not necessarily the best or right choice for all estate plans. Discussing your circumstances and goals with an experienced Arizona estate planning attorney is the only… Read More
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estate planning

3 Risks of Do-It-Yourself Estate Planning

Establishing your estate plan is an important and serious undertaking. You should never attempt to create legal documents without assistance from a knowledgeable lawyer — and that’s especially true with estate planning documents. Do-it-yourself estate planning has significant risks that can completely defeat your efforts to protect your family… Read More
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Categories: Estate Planning
what's it like to live in Arizona

Moving to Arizona? Here’s Why You Need to Review Your Estate Plan Soon

If you recently moved to Arizona or plan to move here in the near future, an important item may be missing from your to-do list. Since you’re changing your state of legal residence, it’s essential to make certain that your estate plan complies with applicable Arizona laws, as well as recent changes in federal laws. While you may not need to cre… Read More
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what's in an Arizona estate plan

What Documents Are in an Arizona Estate Plan?

While people sometimes think that a Last Will and Testament is all you need for an estate plan, a complete Arizona estate plan includes other essential documents. These important written legal documents protect you and your family, in addition to providing for distribution of your property after you pass away. The best way to ensure that you have a… Read More
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