Goals of Estate Planning in Arizona
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In Arizona, probate can become active for any estate valued at $75,000.00 or greater, and it can cause your estate to be held up in court for months, or even longer. Probate also involves attorney fees and additional court costs, all of which can easily be avoided with a solid estate plan. Planning ahead is the answer, whether you’re single or married, and whether or not you have children. Our estate planning attorneys at Phelps Law in Phoenix, Chandler, and Mesa, know how to help you put a great plan in place.
Why is Estate Planning Valuable?
Estate planning isn’t just for the wealthy. A good estate planning law firm can help you develop a plan that will give you the greatest tax advantage; help you be ready for possible long-term care needs; enable a secure future; and prepare a strong transfer of your financial assets to your beneficiaries when the time comes. Setting a good plan in place has many benefits, including:
- Providing peace of mind about your future.
—Securing provision for your retirement years.
—Making provision for possible Long-Term Care Needs for you and your spouse.
- Setting plans in place to successfully pass on an inheritance.
—Avoiding probate court delays and costs.
—Avoiding fighting or quarreling over your estate by family members
—Making sure your health wishes are honored, should you become incapacitated.
—Naming a qualified successor trustee to handle your estate.
—Determining how you’ll pass on your assets in order to protect them from family divorces, unwise spending, creditors, and more: at the right time, in the right place, to the right people.
—Taking advantage of tax laws to provide the greatest inheritance/income possible.
—Giving your family members security and assurance about future plans.
As estate planning attorneys, our staff at Phelps Law (serving the Phoenix Valley) has been serving families for more than thirty-five years. We’ve seen how incredibly valuable a strong estate plan can be, and we’ve also seen how devastated a family can be when no financial planning has been put in place. Our advice? Don’t procrastinate. Preparing ahead of time isn’t just for your sake, but it’s also for your loved ones. A well-thought-out estate plan is an unselfish act of caring for your family that will keep them from unwanted inconvenience and difficulty after you’ve passed away or become incapacitated. Call us, and let’s talk about your financial future.