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what's the difference between a will and a trust

What Is the Difference Between a Will and a Trust?

Wills and trusts are both important estate planning tools. But they accomplish very different goals. If you understand the difference between a will and a trust, you have an excellent foundation for planning your estate. What Is a Will? A will is a legal document in which you designate the individuals or organizations that receive your assets and p… Read More
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Categories: Estate Planning
https://www.petersonazlaw.com/update-your-estate-plan/

10 Life Events That Tell You When To Update Your Estate Plan

When you create an estate plan, you accomplish a significant goal. You also gain the peace of mind that comes with protecting your financial assets and legacy. However, you can follow up that accomplishment with a major mistake if you do not update your plan when circumstances warrant it. But exactly how do you know when to update your estate plan?… Read More
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Categories: Estate Planning
what is business succession planning

What Is Business Succession Planning — and Why Is It Important?

If you own a business, you spend most (or all) of your time running the business. Do you ever consider what would happen to your business without you? You probably don’t — but you really need to consider that possibility. Business succession planning is the best way to plan for unexpected events that can dramatically affect your business. You i… Read More
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power of attorney document

Why Do You Need a Durable Power of Attorney?

Some of the most important documents in a sound estate plan do not relate to what happens to your property after death. Those documents — called durable powers of attorney — protect you and your assets during your lifetime. If you become unable to make your own decisions for any reason, your durable powers of attorney designate someone you choo… Read More
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Categories: Estate Planning
family members talking about living trust

How Does a Revocable Living Trust Work?

In our East Valley estate planning practice at Peterson Law Offices, clients often ask about how a revocable living trust works and also wonder if they need one. There isn’t a simple answer to those questions. Every estate plan is carefully designed to the individual client’s family and financial situation. A revocable living trust is a… Read More
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Categories: Estate Planning, Trusts
die with no will in arizona

What Happens If You Die Without a Will?

If you die without a valid will or trust (referred to as dying intestate), Arizona laws make all your decisions for you. That includes determining who gets your money and property. The laws also decide who can make your funeral and burial decisions and arrangements. In addition, absent a will that gives your directions about what happens after you… Read More
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Categories: Estate Planning