Are you in need of estate planning in Flagstaff? You can get in touch with a lawyer by searching online for a good firm. Each firm has a profile with contact information, biographical information, education details, and links to their websites. You can even use their contact form to get in touch with them. The profiles of estate planning & probate attorneys in Flagstaff are comprehensive and feature relevant information that will help you make an informed decision.
Wills
If you’re a resident of Flagstaff, Arizona, you might be wondering how to draft a Will. It’s a necessary step in ensuring that your wishes are carried out after you die. A lawyer who specializes in Wills for estate planning in Flagstaff will be able to draft your will in a legal and practical way, keeping your wishes in mind and anticipating possible contingencies.
The process of creating a will can be surprisingly simple. Even the most basic of wills include the individual’s name, city and state, personal representative, and guardian if there are minor children. Basic wills also include specific bequests, a statement of who will get the rest of the estate, and instructions for the personal representative. When drafting a will, make sure to have two people who are disinterested witness the document and sign it. Then, have the document notarized.
Trusts
Estate planning in Flagstaff involves the distribution of your assets after you die. Whether you are young or old, estate planning will protect your assets. People work hard to make their personal lives and own valuable items. They may even be priceless. Proper estate planning is essential for ensuring your family is cared for after you pass away. Wills and trusts are among the options that can help you accomplish this. A professional will review your current situation and craft a plan that reflects your wishes.
If you are looking for an estate planning attorney in Flagstaff, Arizona, you can find one on Yellow Pages. These Yellow Pages feature several estate planning law firms that are located in Flagstaff. The number of reviews will be higher for these businesses. The Law Office of Tony S. Cullum, PLLC is located in Flagstaff. This firm can help you create wills and trusts to protect your assets. With proper estate planning, you can maximize your estate and minimize taxes.
Durable General Power of Attorney
If you are planning your estate in Flagstaff, Arizona, you should prepare a durable general power of attorney (PGOA). These documents must be signed by the principal in your presence and notarized by someone other than you. The document must also be witnessed before a notary public. Lastly, the document must be specific to the needs of Arizona. Read on to learn more about the steps involved in preparing a durable power of attorney.
A durable general power of attorney is a legal document that gives a person the power to handle their financial affairs in case of incapacity. A durable power of attorney appoints a trusted friend or family member to act on their behalf. This individual has the power to manage the principal’s finances when the principal is unable to do so themselves. With the durable power of attorney, the agent will have access to the principal’s finances and assets while the principal is recovering.
Beneficiary designations
You may have already established beneficiary designations in your estate planning documents, but it is important to change them whenever your life changes. Many people do not update their beneficiary designations after a change in their family. Your beneficiary designations are binding documents that will transfer all your assets, regardless of your relationship status. You may want to review your beneficiary designations often. Depending on your situation, you may need to make updates to them every few years.
You may be wondering how to name beneficiaries on your assets. Fortunately, it’s a fairly easy process. When you open an account with an asset company, they will usually ask you who you’d like to name as beneficiary. Make sure you include the beneficiary’s full legal name and contact information. Once you’ve done that, the beneficiary designation will take effect and become active. You’ll receive updates from the asset company when the time comes to change it.
Tax implications
The purpose of estate estate planning lawyer in Flagstaff burden on your heirs while maximizing the inheritance to your beneficiaries. To minimize the burden of estate taxes, you should learn about the different types of taxes and how they affect your beneficiaries. A Flagstaff estate planning attorney can help you create a customized estate plan that will fit your specific needs. For example, a trust can direct how proceeds of a life insurance policy will be distributed.
When you have an estate plan, it’s crucial to decide where your assets will be distributed after you pass away. This process will protect your assets, and will help minimize taxes for your beneficiaries. But, many people do not know where to start, and they are not aware of how to protect their assets. That’s where an estate planning Flagstaff attorney comes in. Fortunately, the law firm’s Flagstaff estate planning attorney David Weed can help. He can create a personalized estate plan that meets your needs and will protect your family’s interests.