Estate Planning in Arizona
What is Estate Planning?
The wealth you accumulate during your lifetime touches on virtually every aspect of your personal, family and business life. And because your individual circumstances are unique to you, Life Planning, Inc. (“LPI”) in Arizona helps to lead you through a unique, holistic, consultative approach that results in a clear understanding of your options and a straight path to achieve the outcomes you desire.
For families, our comprehensive Estate Planning solution includes Last Wills and Testament, a comprehensive Living Trust and Powers of Attorney for financial and healthcare matters. Together, these documents are designed to work together in dove-tail fashion to help keep your estate out of Probate and protect your assets for future generations.
Without proper planning, your family and your assets are vulnerable to the costs and delays of Probate, not to mention the potential for conflict between family members. If any of your family members have ‘special needs’ of some kind, it’s particularly important to spell out your wishes in a way that won’t disqualify them from receiving all the government benefits they are entitled to.
Your Estate Portfolio
When it comes to planning your estate, having a checklist and important documents on hand is essential. A comprehensive estate portfolio would look like the below.
Revocable Living Trust
Avoids Probate; says who gets what, how and when; protects assets for future generations; avoids contests; provides for special needs
Certificate of Trust
Proves Trust's existence for banks, brokerage, and insurance companies; Proves a Trustee's legal authority to act
Powers of Attorney
Names and empowers the people we trust to make financial and healthcare decisions for us if we become incapacitated
Declares our wishes re. Life Support in the event of terminal illness, persistent vegetative state or coma – allows Agent to "pull the plug"
Serves as a safety net for assets that have been left out of the Trust; allows Executor to ‘pour over’ into the Trust any forgotten assets
Transitional Documents that may be needed in the future that record the fiscal, personnel, policies, or other activities of the court.
Letters to banks, brokerage, insurance companies requesting the transfer of ownership or beneficiary designation to the Trust
Warranty, Corporate and LLC Amendments
Transfers Real Estate into Trust; Transfers LLC and Corporate ownership interests into Trust