Tempe Estate Planning Lawyer

Tempe Estate Planning Attorney

Estate planning helps individuals protect their loved ones and prepare for the future. If you are interested in formulating an estate plan, then retaining a Tempe estate planning lawyer can help ensure that you meet all the legal requirements associated with estate planning documents. Our team can answer any questions you have regarding wills, trusts, and estates. We also have experience related to probate administration in Arizona.

The attorneys at CDM Law Firm have years of experience helping clients with all their estate planning needs. We work with clients who want to update their estate plans, and we also work with clients who are new to estate planning and need guidance from the beginning. We can help you understand what you can do to establish an estate plan that will benefit you and your family members both now and in the future.

Understanding Estate Planning Documents

The most common estate planning documents include wills, trusts, powers of attorney, and advance directives for healthcare. These legal documents help ensure that a decedent’s assets are distributed in accordance with their intent after they die. An individual can use an advance directive for healthcare to specify their wishes regarding end-of-life medical care and other important healthcare decisions.

A will contains the testator’s intent and establishes how a person wants their assets distributed upon their death. For example, a will may contain directions regarding which beneficiaries should receive personal property and real property belonging to the decedent. A will must be signed by the testator before two witnesses, and the testator must be of legal age and of sound mind at the time the will is executed.

Trusts and Powers of Attorney

Trusts are legal instruments in which individuals can place assets and property. A settlor creates the trust, a trustee manages the trust corpus, and beneficiaries are those who take property or assets under the trust. The details related to trusts are not public record. Individuals who want to maintain privacy regarding their assets often consider using trusts as part of their estate planning.

A power of attorney is another legal instrument that allows an agent to act on behalf of the principal. Often, a power of attorney is limited in scope, and the individual granted a power of attorney may make decisions regarding legal, financial, and medical matters. A durable power of attorney remains in effect after the person who granted the power of attorney loses mental capacity or becomes incapacitated.

Hire an Estate Planning Lawyer

An estate plan is a necessary component of financial planning and living a responsible life. If you are beginning to create an estate plan, then you should hire an estate planning lawyer who understands Arizona law. Attorneys who practice in this area of law can help you determine which estate planning documents will help you achieve your goals and protect your assets.

Working with an estate planning lawyer will help you decide how you want your estate plan to function. Every client should create an estate plan tailored to their particular needs and to the assets and property they want to protect from probate administration. Estate planning documents provide clients with a large degree of freedom regarding how they want their property distributed upon their death and how their affairs are handled.

Estate Planning Statistics

Approximately 24% of adults in the U.S. have a will, 13% have a trust, and 43% say they just haven’t gotten around to it. Working with an estate planning attorney can ensure you learn more about all the estate planning documents you may need to fully protect yourself and your loved ones.

About Us

C. David Martinez has practiced law for more than 25 years in Arizona. A graduate of Arizona State University, he practices in the areas of estate planning and probate. Anne Neilsen practices in the areas of business law, estate planning, and commercial transactions and works closely with clients to address complex legal needs.

FAQs

Q: How Much Does Estate Planning Cost in Arizona?

A: Estate planning costs are commensurate with the client’s needs and various factors that can make costs more or less expensive. The number of years the attorney has practiced may affect the hourly rate for legal services. Also, married couples may have more complex estate planning needs, and this may increase the overall cost of legal representation. A knowledgeable estate planning attorney will formulate a fee agreement based on the complexity of the estate.

Q: How Do Estate Planning Attorneys Charge?

A: Estate planning attorneys typically charge clients a flat fee or an hourly fee for legal representation relating to estate planning. The complexity of the estate and the presence of will contests can influence the costs associated with legal services. An estate plan for a single person will often be less expensive than an estate plan for a married couple. Recording fees are also linked to fee agreements if the attorney must transfer real estate into a trust in Arizona.

Q: What Are the 7 Steps in the Estate Planning Process?

A: The seven steps in the estate planning process are as follows: (1) identifying and categorizing assets and debts; (2) defining goals and beneficiaries; (3) choosing fiduciaries; (4) drafting estate documents; (5) setting up powers of attorney and advance directives for healthcare; (6) reviewing beneficiary designations; and (7) reviewing the entire estate plan on a regular basis.

Q: Is an Estate Planner the Same as a Lawyer

A: An estate planner is not the same as a lawyer. Some financial planners and financial advisors work as estate planners in Arizona. However, only lawyers licensed in Arizona can provide you with legal advice regarding wills, trusts, and estates. Attorneys and financial advisors often work together to provide clients with the full range of services they need to make sound decisions regarding their estate planning.

Contact the CDM Law Firm Today to Schedule a Free Consultation

Estate planning is a complex endeavor that requires patience, forethought, and careful analysis. Working with a legal professional who is experienced with wills, trusts, and estates can help you prepare for unexpected events and contingencies related to your estate plan. If you have questions about this area of law, then it will be beneficial for you to speak to a Tempe estate planning attorney who understands your concerns.

Contact CDM Law Firm today if you are seeking legal representation regarding your estate planning needs at our Mesa office on E. Baseline Road or our Chandler location on S. Gilbert Road. We have years of experience working with financial planners and accountants to ensure that our clients have all the resources they need to formulate tailored estate plans. Our Tempe Estate planning lawyers are here for you and your family.