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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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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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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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Reading about Arizona probate

Is a Trust the Only Way to Avoid Probate? Not in Arizona.

For many people, an important goal of creating an estate plan is to avoid probate of their estate. A living trust is often an excellent way to accomplish that goal. But in Arizona, there are also other ways to avoid the probate process. This article explains the available options for avoiding probate of property in an Arizona estate, as well as the… Read More
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Do-It-Yourself Wills & Es…

Do-It-Yourself Wills & Estate Plans Are a Serious Mistake — Especially During Coronavirus (Covid-19) Uncertainties

Your will and other estate plan documents protect you and your family during your life and after you pass away. Your estate plan provides peace-of-mind about the legal protection you have put in place. However, using forms or an online do-it-yourself (DIY) service can defeat those important goals and have significant negative consequences for you a… Read More
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estate plan for a blended family

Estate Planning For a Blended Family After a Remarriage

Estate planning is important for everyone, but it is especially vital for individuals who have a blended family following a remarriage. The estate planning goal of ensuring that natural children (and grandchildren) receive their inheritance becomes more challenging in a blended family situation. Other special estate planning concerns warrant consid… Read More
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estate plan for an unmarried person

Estate Planning Options For Singles Without Heirs

If you’re unmarried and don’t have children or living relatives, you might think estate planning is not important or deserves your attention. However, it is an undertaking that is essential to protect you during your life and ensure that your property does not end up in the hands of the state. Singles sometimes feel there aren’t good… Read More
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what is a revocable 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