Control the distribution of your assets...
Your assets may go to people you do not want to have them. We can help you control who gets what when you are no longer here.
Trusts are complicated and expensive. We do not “push” trusts, but they are necessary in some circumstances to gain the tax advantages and avoid the probate process. We will work closely with your tax advisors to assure your documents are appropriate given your situation. And we can update your trust when the tax laws change and your tax advisor suggests changes or if you simply change your mind. Avoiding probate is sometimes more important than favorable tax treatment. Every Will must be probated if the estate is over the minimum limits allowable for a summary process (see below). And probate takes a long time; a minimum of four months and we have seen probate actually take years. Probate can cost many times what a trust costs.
Trusts are private and do not provide easy access to the courts for persons who feel they should enjoy some of your money and who you would not want to. Also, trusts are critically important if you have heirs who are challenged mentally or physically, or have trouble handling money due to drug, alcohol or gambling problems. Forming a Trust assures your wishes are followed by giving clear direction and allows fast distribution. Establishing a trust is a kindness you do for your intended beneficiaries and saves your estate money in the long run. Our Trust Packages are provided on a flat fee basis and include the Trust itself, a pour over will, two conveying deeds, assistance with funding the trust, and, most importantly, the assurance that you will understand your trust when you leave. We tell you what the complete bill will be before we start work; no surprises. Trusts must also be maintained and if you ever have any questions about your trust we are available for free consultation. Finally, as with all our estate document packages, we provide Medical Powers of Attorney and Living Wills at no extra charge.
Wills are less expensive, but accomplish less. Wills are simpler than trusts. They state who you are, who you want to handle the probate of your estate, where you want to be buried and who gets what. You can direct who does not get anything and what charity should get something. We can also build in what is called a “Testamentary Trust.” This is a trust that only comes into existence upon death and is normally used to protect heirs with difficulty handling their own money. But all Wills over a certain amount, must pass through the probate process; a Will does not avoid probate. Our Wills are prepared on a flat fee basis which will be discussed at our initial consultation. We tell you what the complete bill will be before we start work; no surprises. As with all our estate document packages, free Medical Powers of Attorney and Living Wills are provided.
Beneficiary Deeds. Arizona has established a type of deed nearly unique in the country. Using these deeds a landowner can establish exactly who gets real estate upon death. The landowner’s death certificate is recorded and if the beneficiary deed is still in place, the land is transferred immediately without going through probate. After recording, the landowners can change their minds and withdraw the deed or change their instructions. As with all our estate document packages, Medical Powers of Attorney and Living Wills are provided. This inexpensive document may be the very thing you need to assure what is frequently the largest estate asset goes to the right person as quickly as possible. Beneficiary Deeds are prepared on a flat fee basis and come with free living wills.
Summary Process Documents. If the value of your estate is relatively small they can be transferred quickly without going through probate even if you do not have a trust. Six months after the death of a landowner, if the equity value in a piece of real property is less than $75,000.00 (as of June 2008) a document can be prepared, certified by Superior Court and recorded within days. Thirty days after the death of a person, his or her personal property such as cash or cash-like assets can be transferred by an Affidavit for Collection of Personal Property, if the value is less than $50,000 (as of June 2008). There is no need to file this document in Court or anywhere else. If drafted correctly and presented to anyone holding assets of the decedent, they must transfer the assets to the appropriate person. These documents are inexpensive and we can prepare them for you so that it will be done right the first time.
Health Care Powers of Attorney. Under Arizona Law you can appoint someone to speak for you and make medical decisions when you are no longer able to communicate. This document can be critical in avoiding medical treatment that you would not want to receive if you could speak. Also, your doctor will have to follow the advice of the person you have entrusted with these decisions. This document is provided free, whether you are a client or not; whether you want any other estate documents or not.
Living Wills. Under Arizona Law you can sign a document listing specific instructions to your doctors and loved ones making clear what medical treatment you want and what medical treatment you do not want, if you are no longer able to communicate. This document can be critical in avoiding medical treatment that you would not want to receive if you could speak. Your doctor will have to follow you instruction and provide only the medical treatment you want. Also, telling your family in writing what treatment you want and do not want could save great emotional turmoil when your family is called upon to make decisions on your behalf; if you have written it down, they will not have to second guess themselves after you are gone.
Can a paralegal sell you estate documents cheaper than the amount we charge? Yes. But paralegals prepare “one-size-fits-all” word-processing document that may not be what you need. One paralegal drafted a trust that John reviewed which had 8 sub-trusts and was 75 pages long. And this client didn’t even need a trust! Why were the documents prepared that way? Because the paralegal’s word processing program told her all those trusts were needed. Needless to say, the clients had no idea how their trust worked. We talk to you and recommend the right documents for your particular needs. Our recommendations are based upon the knowledge the experience we have gained forming and preparing wills and trusts. We actually understand the documents we prepare, and by the way, we will not let you leave our office until you understand your documents too. The documents are cheap; professional legal advice is dear.
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