Last week on the blog we discussed how a special needs trust can be utilized as a way to better ensure that an individual qualifies or continues to qualify for certain government benefits like Medicaid. The special needs trust is a highly specialized type of trust that serves a specific purpose, that being providing resources for individuals who are in need of medical care. While this trust can be quite important and is found in many estate plans, it is not, by any stretch of the imagination, the only trust type available to Arizonans who are engaging in estate planning.
In fact, there is a type of trust available to fit any need you may have. If you want to lower estate taxes while giving back to the community, then a charitable trust may be beneficial. If you want to leave assets to your child or another individual but want to put contingencies on distribution of those assets, then you can do so through a revocable or irrevocable trust. You can even set up a trust specifically for the care of your pet.
The point is that you can make your estate plan exactly what you want it to be. We at the Moore Law Firm strive to help Arizonans figure out what that looks like, then diligently work to bring that plan into realization. We can help individuals identify the estate planning tools that fit their needs, then create them in a competent fashion that puts to rest any concerns of validity.
We work hard to ensure that our clients have estate plans, including wills and trusts, that meet their needs so that they can find peace of mind, knowing that when their time comes, their estate will be handled in accordance with their wishes. Dealing with the details of these estate plans can be challenging, though, and a seemingly small mistake can prove fatal for your plans. This is why it is advisable to obtain the assistance of a qualified legal professional, like those found at our firm, rather than taking such an endeavor into your own hands.
