Last Will and Testament
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Last Will and Testament in Arizona
Thinking about how your children, grandchildren, or spouse will live their lives once you’re gone may not always be the most pleasant experience, but naturally you’ll want to leave them with some security. Creating a last Will and Testament can offer you the peace of mind that your assets will be appropriately allocated in the event of your passing, and that your assets will end up in the hands of those you love.
The creation of a last Will and testament is one of the most important steps in estate planning, not just to allocate your assets but also to limit unnecessary legal problems after your death. The experienced Mesa estate planning attorneys at Rowley Chapman && Barney, Ltd. have extensive knowledge in creating and maintaining wills, as well as handling other probate and estate matters, so give us a call at 480-833-1113 or contact us online.
What is a Simple Will? A simple will is just a basic legal document that you prepare in order to ensure that your assets are properly allocated following your passing. The legal language is not complex, so your beneficiaries should not have difficulty understanding a properly drafted will.
You might consider a simple will if you’re still relatively young and don’t have too many assets to pass along, if you’ve only been married once and have no children from prior marriages, and/or if your wishes following your passing are uncomplicated and unlikely to be challenged or if you do not have minor children.
Even with a simple will, it is advisable to get legal help in creating the will to ensure that it is not contested and that your wishes are followed. An attorney can help you to quickly prepare a simple will for minimal cost.
What is a Complex Will? In many situations, you will want a will that is tailored to your beneficiaries’ needs and that does more than just simply outline whom should receive which assets upon your death. If you are older, have children from prior marriages, have minor children, own your own business, have assets valuable enough to qualify for estate taxes, or if you want to set up a trust for family or charity, a complex will may be the better option.
Generally speaking, the more assets that you have and the more beneficiaries you plan on passing your possessions and property to, the more complex the legal language in your will. The best way to ensure that your will contains the precise language and meets the requirements necessary for your beneficiaries to realize the maximum benefit of your estate is to involve a qualified estate law attorney.
Although most clients that need a complex will may ultimately decide to create a revocable living trust with a “pour-over” will, some may decide upon creating a complex last will and testament with various provisions to protect their family and or their assets.
Failure to Create a Will in Arizona If you decide not to make a will, the state of Arizona, under the intestate statutes, will allocate your property to your next-of-kin, which includes your husband or wife and your children. Grandchildren and parents will receive your holdings and property if you have no children and no spouse. From this point your estate will be allocated among more distant family members such as aunts, uncles, and cousins. If you do not have a will and you wish to allocate your property in a certain manner, it’s smart to begin the process of creating a will as soon as you’re able.
Complex Wills in Arizona – Mesa Estate Planning Attorneys Rowley Chapman & Barney, Ltd. has extensive experience helping clients to plan their estate and draft both Simple Wills and complex wills. For help with these estate-planning issues, or with any other legal issues you might be facing, call our Mesa estate planning lawyers today at 480-833-1113.