Archives for September 2022

Estate planning attorneys are experienced and licensed legal professionals. An estate planning lawyer will have a thorough understanding of state and federal laws that affect how your estate will be inventoried, valued, distributed, and taxed after your death.Estate Attorneys conduct a wide range of duties. These duties will depend on numerous factors, such as your assets and your long-term estate planning goals. For example, some people may just need a simple Last Will and Testament, while others may need a more complicated trust to protect a special needs child or their business.An estate planning attorney can also help you plan for your future healthcare as you age and with planning for how your property and finances will be managed should you become unable to do so or pass away.Each person’s situation is different, and an experienced estate planning attorney will help you put your wishes in writing so that they will be honored by those you leave behind.You’ve worked hard for the assets you’ve earned in life, and you want to make sure that your loved ones can benefit from all your hard work when you pass away. That’s why when you’re ready to make your final arrangements, your best option is to consult with an Arizona estate planning attorney at Brown & Hobkirk, PLLC to make sure everything you’ve earned will go to those you intend.5 Things An Estate Planning Lawyer Can Do For YouDraft a Last Will and Testament:Making sure this document is properly drafted, signed, and executed is a critical function of an estate attorney. An experienced attorney will have knowledge about all the legal requirements for the proper drafting of all your estate planning documents. They will advise you on the best legal options and documents to protect your assets.Draft Living Trusts, Healthcare Directives, and Powers of Attorney:A living trust is a legal document that can address your wishes while you’re still alive. If you have a living trust, you can bequeath your assets to your loved ones during your lifetime; they just don’t get access to it until you pass.With a Living Trust, you can set a schedule that fits your needs, and put various provisions in place that must be met in order for someone to receive the assets. For example, you may have a Living Trust drafted during your lifetime that gives $100,000 to your daughter, but only if she graduates from college.There are some documents that go into effect after your death (EX: Last Will and Testament), and others that you can use for smart asset management while you are still alive (EX: health care directives). In the event, a medical emergency or accident leaves you unable to communicate (“incapacitated”), it’s wise to have healthcare directives in place to clarify your medical and healthcare preferences. Rather than leaving your family members to guess (or argue), you should make your intentions clear now by working with an estate planning attorney. Your attorney will help you draft healthcare directives and powers of attorney that fit your lifestyle, assets, and future goals.Help you avoid estate taxes:The most common way of avoiding probate and estate taxes is through the use of Trusts. However, there are several other ways an estate planning lawyer can help you avoid estate taxes, such as utilizing lifetime gifts, the use of death beneficiaries, and joint property ownership.Similar to wills, trusts list your beneficiaries and provide direction on what happens to your property when you die. An estate planning lawyer can help you avoid costly mistakes by properly drafting your trust in accordance with the laws of your state.Prevent The Long and Costly Process of Probate:Depending on your assets and estate, Probate can potentially be a long and stressful process. Probate is not fun for anyone involved and can be an incredibly stressful experience.If you carefully plan your estate now, you may be able to prevent your heirs from being forced into long legal battles, the court system, and adversarial family disagreements.You want your heirs to have an easy time with planning and legal concerns after your death. A properly executed set of estate plans will save your family time, money, and a great deal of stress. Investing in proper legal advice now will prevent them from needing to do damage control after you’ve left them.Resolve legal disputes about your estate:It happens quite often that a loved one won’t be happy with the contents of your estate plan. They may even try to change it by getting a financial power of attorney over your assets during your lifetime, or they may try to challenge your will after you pass. When disputes like this arise, you (or your beneficiaries if you’ve passed) will need an attorney who oversees both estate planning and probate litigation to protect your interests.How Much Does An Estate Planning Attorney Cost?There are many distinct factors to consider when determining cost, including the experience of the attorney, where they’re located, and the complexity of the work involved. Since each case is different, the best way to find out about your cost is to schedule a consultation with your attorney.Contact UsIf you’re thinking about planning your estate, call to schedule a free consultation with an Arizona estate planning attorney today.The legal professionals at Brown & Hobkirk, PLLC are dedicated to helping you make an estate plan that serves you and your loved ones best. We will help you make a plan that ensures your assets are not wasted in probate expenses and excessive taxes.We are ready to serve you in one of our conveniently located offices in Scottsdale, Phoenix, Peoria, Chandler, or Tucson. Contact us today!Robert HobkirkRobert Hobkirk is a partner at the law office of Brown & Hobkirk, PLLC. He represents clients in legal matters involving trusts and estates, wills, probate law, and estate litigation, among other areas.Read Morewww.brownhobkirk.com/about-us/robert-hobkirk/

Archives for September 2022

What Does An Estate Planning Attorney Do?