Many modern estate plans and last wills are computerized documents. Individuals either create them using a digital template or pay an attorney to create customized paperwork for them. However, especially if your parents are older, they may have a handwritten will...
wills
Dealing with issues of fairness during estate planning
A lot of hard decisions must be made during the estate planning process. Individuals who are creating an estate plan must identify heirs and beneficiaries and determine what type of asset distribution plan fits the needs of everyone involved, as well as the estate...
Three key components to effective estate planning
Estate planning can be an intricate process. Depending on the circumstances, numerous legal documents may need to be drafted, and the language in key provisions can be critical to their interpretation. Therefore, a lot of care needs to go into the drafting of these...
A pour-over will can be an efficient estate planning tool
Readers of this blog might be aware of the numerous estate planning tools they have at their disposal. Many Arizonans choose to utilize a living trust as part of their estate plan as it allows assets to bypass the probate process. One of these trusts can also give a...
Wills and the letter of instruction
Creating a will is a strong first step when it comes to estate planning. This document, even in its most basic terms, can be a powerful way to ensure that one's estate is appropriately addressed after his or her death. When a will isn't created, the distribution of...
Arizona’s holographic will law
We recently wrote about the trouble Aretha Franklin's estate is having due to the recent discovery of a number of handwritten wills. These documents can be problematic for a number of reasons. Oftentimes it's unclear who is being named as a beneficiary or heir. Also,...
Arizona’s requirements for a legally valid will
Many Arizonans think of wills as simple documents they can utilize to dictate how their assets will be distributed upon their death. While this is true in a broad context, these estate planning vehicles can be quite detailed, and they are automatically legally valid....
Aretha Franklin’s handwritten wills may present problems
If Sun City residents have heard of the estate-planning debacle surrounding the estate of famed singer Aretha Franklin, then you know just how dangerous it can be to forego estate planning altogether. Yet, even mediocre estate planning can prove problematic. It can...
Lack of a basic will can have a profound impact
Wills are usually the most basic form of estate planning. They can be relatively simple in nature and easy to create for Sun City residents. Yet, a 2017 survey found that 58 percent of Americans have not created any estate planning documents. This is a staggering...
Addressing a business in an estate plan
Generally speaking, the more assets an individual has the more detailed his or her estate plan needs to be. The same holds true when there are multiple heirs in play. While most people focus on divvying up their personal property, familial home, and bank and...
