Moore Law Firm

Moore Law Firm

9949 W. Bell Road
Suite 201
Sun City, AZ 85351
Contact Us For A Courtesy Consultation
623-207-9153

Sun City Estate Planning Blog

How can I make sure my will is valid?

Before one passes away, they need to make sure their family is taken care of financially when they are gone. To do this, they should consider drafting a will to legally distribute their assets to their loved ones in a legal way. But, creating a will is not as simple as writing down who gets what. They must follow the rules in the state to make sure the will is valid.

Generally, to create a will, one must have legal and testamentary capacity. This means they have to be 18 or older, legally married or in the U.S. military. They must also have mentally capable of understanding the purpose of a will.

Estate planning advice for Arizona residents

Both men and women may find it uncomfortable to prepare for death, but it is necessary to ensure that your assets end up in the right hands. Women have a unique set of challenges when it comes to creating wills and dealing with other parts of estate planning. Statistics show that on average, women live 4.9 years longer than men. In addition to longer life expectancies, many women take time off work to raise a family and therefore have shorter work histories. As a result, they may have less saved up for retirement. In many cases, a woman will outlive their spouse and will need a solid estate plan in place to help her protect her estate when she passes.

Whether you are a man or woman, it is important to prioritize your estate planning and make sure you have a plan in place for when you pass away. Being aware of your financial assets and being involved in the management of your financial assets is extremely important to make sure your property is properly distributed when the time comes.

Who will get my house when I pass away?

Older adults have a lot on their minds, from preparing for retirement to getting their affairs in order. Determining who will get the house when they pass away is a major concern for many retiring adults. Generally, there are two possible estate planning options: sell the house and leave the proceeds to your heirs, or deed the house to one of the children before you pass away.

Moving to a new place is not an option for many people, so it is likely best to leave your house and other assets to your loved ones in a will or trust, depending on your particular situation. Simple wills are often best for families that get along and can agree on what to do with family assets. The executor of the will should live in the state where the house is located to make the process easier.

Revocable trust can help you distribute your estate to loved ones

Many people put off deciding who to leave their estate to when they pass away. Unfortunately, many people die unexpectedly in Arizona without a plan and their assets go to unintended beneficiaries or the probate process delays the distribution of the property significantly. A revocable living trust can help you make sure your loved ones get the things you valued so highly as quickly as possible.

A revocable living trust requires you to transfer your assets into the trust's name and assign a trustee to manage the trust. You can act as your own trustee, but it is best to assign someone else as an alternate trustee in case you become incapacitated or otherwise unable to handle these matters. Because it is a revocable trust, you have the power to make changes to the trust or cancel it as you see fit.

Updating your will is as important as the will itself

Estate plans are incredibly important to preserving your legacy and passing on your assets and wealth to those that you want to benefit from it. It is the will that is most essential in this regard, as it is a legal document that clearly lays out your wishes and demands for how your estate will be distributed and handled. Without a will, your estate could descend into chaos and confusion.

With that in mind, though, just having a will isn't enough. You will want to have trusts in place as well to secure your estate. In addition, once you have a will, you will need to frequently update the document. If you don't update it, your will may not adequately reflect your wishes.

Giving probate the slip

Everyone knows that probate is where estates are subject to second-guessing by the courts and estate taxes.

The question is, How do you avoid probate? One rule of thumb is: Don’t own so much.

Client Testimonials

I got the family trust updated.
I was very pleased with the expertise and professionalism exhibited by your staff in serving my needs.

I needed to review my Will, recommended by my son.
Mr. Farrer’s expertise helped me realize that a Trust would better serve my needs.
The staff and Mr. Farrer were very professional and friendly (not cold). Thank you. Very comfortable atmosphere.

Our legal documents were outdated due to time and circumstances.
The staff at Moore Law Firm worked with us to develop a trust and other legal documents which meet our current as well as our future needs.
The staff at moore law firm were so professional, knowledgable and friendly to work with. They worked beyond to accomodate our needs. Thank you all.

Moore Law Firm
9949 W. Bell Road
Suite 201
Sun City, AZ 85351

Phone: 623-207-9153
Phone: 623-207-9153
Fax: 623-977-7237
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