Chandler, Arizona Estate Planning Attorney
Chandler is located within Maricopa County in the east part of the valley. The first veterinarian surgeon in Arizona, Dr. Chandler, named the town after originally obtaining land to study irrigation engineering in 1891. Chandler has continued to foster research and development through its scientific based corporations such as Intel, Motorola and Microchip.
What You Need to Know About Estate Planning
At first blush most people find the question one to avoid - what will happen when I die? But a sense of security is often found only when people prepare for the inevitable by devising a plan and having it in place before death. This is called “estate planning,” and it really is the only way to protect the assets you have worked your entire life to build. Estate planning is the way to ensure you and your families' financial goals are met when you pass away. No matter your net worth, it is important to have a basic plan in place.
There are several parts that go into what is termed "Estate Planning." Included are: a will, trust (if your assets require one), a living will or medical power of attorney, and assignment of a power of attorney. It is never too early to begin thinking about the assets you have and to whom you want to assign those assets when you die. Assets may include any business interests, real estate, investments, savings, insurance policies, or retirement savings.
The golden rule is everybody needs a will. Dying "intestate," or without a will, leaves no control over the distribution of assets. In addition this could be very costly to heirs and beneficiaries. Generally, a will tells the world what your individual wishes are for your assets when you die. This document is also where you want to name guardians for your children. In fact, a will is the only instrument where you can nominate a guardian for dependent children. Additionally, a trust may be a good tool depending on your individual estate plan. A trust is able to hold onto property for a very long time, and even protect assets from creditors and lawsuits by placing specific conditions on the distribution of assets. As you can see, many possibilities exist and depend greatly on your personal goals.
It is also important to discuss your estate plan with your descendants and individual heirs so there is no confusion upon your death. A good estate plan protects you, your assets and your beneficiaries. Let the experienced and skilled attorneys at Platt & Westby P.C., analyze your personal financial needs and draft a specific plan for you. The Estate Planning Lawyers at Platt & Westby, P.C., have been practicing for nearly 40 years and are proud to have assisted many Arizonans in that time.
Platt & Westby, P.C., is located in the heart of Phoenix at the corner of 7th Avenue and Thomas Road. Several other convenient valley locations are in Goodyear, Glendale and Gilbert as well. Call 602-277-4441 today for a free and confidential appointment to discuss your future plans.