The purpose of Estate Planning is to ensure that you will be able to make use of and enjoy your property to the fullest. An effective estate plan allows you to pass your estate to your loved ones.

A Trust based estate plan is a mechanism whereby the Trustmaker continues to control their own property and affairs during their lifetime but allows for a private (non-court) way for a successor Trustee to manage their property for the benefit of one or more beneficiaries.

A revocable living trust may be amended or revoked during the Trustmaker’s lifetime, and if properly drafted may provide substantial tax, creditor and remarriage protection in addition to providing opportunities for the care and protection of your children and grandchildren.

You should include a Will in any estate plan. A Trust based estate plan needs to incorporate a “pour over” Will, which accounts for things that were not properly transferred to a Trust during lifetime. Under a Will based estate plan, the Will is the document that will enable your assets to be distributed and your affairs handled pursuant to your personal instructions. It’s important to note that if any property is passing through either type of Will, it must also go through the court driven probate process. The Will also documents your wishes concerning who shall be the guardian and or conservator of your minor children.

Here is a simple definition of Estate Planning:

I want to control my property while I am alive and able, take care of myself and my loved ones if I become disabled, and give what I have to whom I want, the way that I want, and when I want, while saving every tax dollar, professional fee and court cost possible.

Our Arizona Estate Planning Attorneys for, Trusts, Wills and Probate are familiar with and can assist you with the following services.