Phoenix, Arizona, was founded in 1861. The name "Phoenix" was given by Lord Darrell Duppa because it described a city born from the ruins of a former civilization. In the 1880's the railroad was the first of several events that revolutionized the economy of Phoenix. Merchandise was now able to flow through the city by rail instead of wagon. On February 14, 1912, Phoenix became the capital of Arizona.
Phoenix's economy shifted during World War II. It became a distribution center and industrial city with mass production of military supplies and brought with it thousands of new people. The next several decades brought forth more growth and became a favored tourist destination because of its climate and exotic desert setting. According to the 2010 U. S. Census Bureau 1,445,632 people reside in Phoenix making it the most populous state capital in the United States.
What is Probate?
"Probate" refers to the process of distributing a person's property when they die. If the person leaves behind a will, the will is followed for determining how and to whom the property is to be distributed. If the person does not leave a will, then distribution is done according to state law. Because probate can end up being quite costly and take a long time to complete, many people try to avoid the probate process.
How Can I Avoid Probate?
One way to avoid probate is to have a revocable living trust prepared. One advantage a trust has over a will is that a trust has the capability of holding onto property for much longer than a will. A will by definition "speaks upon death" and because of that it is limited to its creator's lifetime. Another advantage a trust has is that it allows for more control over property and its distribution.
It is important to note that while a trust is a great tool, a will is a powerful instrument. A will can act in ways that a trust cannot. The power to nominate a guardian for minor children is a good example because a will is the only instrument capable of doing so. While the focus of this section is centered around a living trust, a will and also power of attorney should not be overlooked. All should be used together to properly make plans for your estate.
Do I Need an Attorney?
Technically an attorney is not required for probate matters. However, it is highly recommended that one is obtained. Without an attorney, you are assuming the risk for any mistake created in the process. Because it is so easy to make a mistake, almost every probate process done without an attorney ends up being even more costly to correct. Probate and all matters related to it, like wills and trusts, are all very personal and extremely important. Because of their upmost importance, they requires the highest attention and care available. This is what makes an attorney invaluable during this process. Probate is second nature to the attorneys at Platt & Westby, P.C. Having been in business for 40 years, Platt & Westby, P.C. is a reliable law firm that adheres to traditional values of providing individualized attention to each client. The help you deserve is just a phone call away. Call 602-277-4441 for a confidential and free appointment today.