Queen Creek Estate Planning Lawyer

Queen Creek Estate Planning Attorney

The estate planning process is an essential one that will help you decide what to do with your property, care for your family, and how to deal with your healthcare and your final wishes. Having a clear understanding of all the components of estate planning, with the help of a Queen Creek estate planning lawyer, can make it easier for residents of Queen Creek, Arizona, to keep their wishes and loved ones protected.

Why Choose CDM Law Firm?

At CDM Law Firm, we are trained professionals who can craft a plan for your loved ones that will ease the pain of your loss and bring you and them peace of mind. We’ve seen firsthand the kind of family conflict that can arise when someone dies, like frayed familial relationships, bankrupt estates, and illicit unsecured funds.

Even if you are not planning to die anytime soon, we can still put things in order so that you don’t have to deal with it later. We’re dedicated to protecting your assets to keep your family together and financially secure.

Planning to Leave Your Estate

One primary objective of estate planning is deciding who will inherit your assets after you pass away. Wills are most widely used to do this because they are relatively straightforward, economical, and easily accessible. Your will allows you to set out how your wealth will be distributed so that your property goes to those you want.

Another way of transferring property is to use a living trust. The principal benefit of a living trust is that it avoids the costly and lengthy probate process. However, living trusts can be more elaborate and expensive to set up than wills.

There is also the option of non-probate property transfer via transfer-on-death (TOD) accounts, deeds, or registrations. Using these, you can name beneficiaries directly, which makes it easier for everyone involved. When you die without an estate plan, your assets are distributed in accordance with Arizona law, and it might not reflect your preferences. Therefore, you need an estate plan to ensure that your assets go where you intend them to.

Benefits of Having an Estate Plan

Having an estate plan gives you control over what happens to the things you care most about after you die. You might have small children, and you might want to include provisions in your will that will help to provide for them should you die. You could assign a guardian to care for your children and a property manager or custodian to manage anything that was left for them.

That way, your children will be raised by someone you trust, and their finances will be handled accordingly.

What Is Estate Planning?

Estate planning doesn’t just include what happens to you once you die, but it also includes what will happen to your healthcare. With a healthcare power of attorney, you can appoint someone to make medical decisions for you should you be unable to. A living will also defines how you want your medical care to proceed, including whether you’d like life support if you’re terminally ill or in a vegetative state.

Finally, you can outline your wishes for your funeral, burial, or cremation. You can also include information about whether you want to be an organ donor or give your body for specific scientific purposes.

Estate planning helps the surviving relatives avoid probate. Probate is the process whereby a court determines how an individual’s property is divided after death. It’s a long and costly process, which usually causes delays and smaller inheritances for your beneficiaries. Most people use life insurance plans such as living trusts and TOD accounts to bypass probate and transfer assets more easily and efficiently.

Estate Planning Special Circumstances

Estate planning can take into account special circumstances, like preserving pets or unmarried couples. Estate planning, if you have pets, can provide care for them once you pass away. You can establish a pet trust with funds set aside for them and a guardian. This will help ensure that your pet’s interests are fulfilled.

Estate planning is especially important for unmarried couples because the law doesn’t automatically recognize partners without marriage. Without a will or trust, your partner might not get to inherit your property. In a properly developed will, your partner may be named a beneficiary so that they receive money and have medical or financial decisions to make under powers of attorney or healthcare directives.

FAQs

How Much Is a Consultation With an Estate Planning Lawyer?

A consultation with an estate planning lawyer can be negotiated depending on the location, professional experience, and scope of your case. A few lawyers are free to talk to; some charge a flat fee or an hourly rate. You should contact the lawyer’s office to find out about their costs and what they include with the consultation.

What Are the Steps in the Estate Planning Process?

You first analyze your assets and liabilities. Then, you set your intentions, including how you want your assets to be distributed and who will administer them. You then select your beneficiaries and assign executors or trustees. It is followed by writing vital legal documents such as wills, trusts, and powers of attorney.

You also factor in taxes, so your estate will have minimal financial implications. Lastly, you periodically update your estate plan based on any life changes.

What Is the Difference Between a Probate Lawyer and an Estate Lawyer?

A probate lawyer can help with probate law, such as assisting executors through court proceedings, paying off debts, and disposing of property upon death. An estate lawyer, on the other hand, prepares estate plans such as wills, trusts, and other documents so that one’s wishes are realized in the form of a will, trust, or some other type of document.

What Is the Difference Between Will and Estate Planning?

A will is a written arrangement that specifies how your assets will be divided when you die. Estate planning involves not only creating a will but also tools such as trusts, powers of attorney, and medical advance directives. It is an integrated approach to managing your assets, considering distribution, tax planning, medical care, and guardianship.

Contact CDM Law Firm Today

Estate planning does not have to be a difficult task, and you do not have to handle it alone. An attorney at CDM Law Firm can help make this process easier for you. Contact us today to get started.