Prepare for the Future with an Estate Planning Attorney

You can avoid a costly probate with a revocable living trust. Perez Law Group, PLLC attorneys will make sure that your assets are placed in your trust so they are not subject to probate.  A trust provides ownership of assets to the trust you create so they legally belong to the trust, not to the trust maker or the beneficiaries. However, the trust maker maintains control and overseeing its assets by being named trustee. The term “revocable” means it can be changed, updated, altered, and, yes, even revoked entirely until the trustee dies. At that point, the trust is set in stone and the instructions on how assets are to be dispersed are followed, allowing property to go directly to beneficiaries, bypassing probate. An estate planning lawyer can explain the process and guide you through set-up, making this document reflect your specific needs.

Unlike how Hollywood depicts them, last will and testaments should not be dramatically drafted in private and hidden away. These vital documents are your way of expressing your wishes for who will be in charge of distributing your property, who will receive certain assets, and how you would like your life to be honored at your funeral. Dying without a will, called dying intestate, means a court will decide how to distribute your assets. Work with an estate planning attorney to make your wishes clear and actionable and avoid giving your loved ones heartache and stress after you pass.

In case of an emergency in which you are unable to make decisions for your care, a living will clarify your stance on certain medical treatments, such as life support or resuscitation, allowing you to give direction for certain forms of care. You can remove difficult decisions from your loved ones in a serious situation because with a living will, you have the power to express your wishes in advance. This simple document can speak for you when you cannot speak for yourself.

Probate is a court process in which a will is determined to be legitimate, an executor is named to take charge of the deceased’s estate, debts are paid, and the remaining property is distributed to beneficiaries. This can be time-consuming and expensive, and often delays beneficiaries from receiving assets and even saying goodbye to their loved one. A probate lawyer can not only ease you through the process if you’ve already gone to court, but also protect certain assets from going through probate at all, if planned correctly. A solid estate plan drafted by an experienced lawyer can minimize or eliminate having to go through probate, whether you are in Glendale, AZ or the surrounding Valley area.

Often coupled with a living will, a power of attorney empowers an individual to make certain decisions for you in the case of incapacitation. While many of us may know how we feel about being kept on life support, we can’t know exactly what may happen to us and what medical questions may arise. Durable healthcare power of attorney grants an individual this decision-making power to answer the unexpected questions. A financial power of attorney can also appoint someone to make financial decisions on your behalf. These documents are very flexible and should be discussed with an estate planning lawyer to be employed to their fullest extent.