Helping You Protect Your Legacy and Your Loved Ones
Estate Planning in Arizona and California
Everyone has an estate. Your estate includes everything you own—from your home and real estate to your vehicles and personal property. Whether you’re single, married, young, or old, having an estate plan is crucial for ensuring that your wishes are honored and your assets are protected.
FAQs
What is the difference between a will and a revocable living trust?
A will outlines how your assets will be distributed after your death, names a guardian for minor children, and appoints a personal representative (executor) to manage your estate. However, a revocable living trust is a more flexible estate planning tool. It allows you to transfer assets to a trust that can be managed by a trustee, avoiding probate and ensuring that your assets are distributed efficiently. Unlike a will, a trust can also be modified or revoked during your lifetime.
Do I need both a will and a revocable living trust?
In many cases, having both a will and a revocable living trust can offer comprehensive protection for your estate. A revocable living trust can help avoid probate and ensure privacy for your estate distribution, while a will serves as a backup, ensuring that any assets not included in the trust are still distributed according to your wishes.
What is a power of attorney, and why is it important?
A power of attorney is a legal document that allows you to designate someone to manage your affairs if you become unable to do so yourself. There are two primary types of powers of attorney: financial and healthcare. A financial power of attorney lets someone handle financial decisions on your behalf, while a healthcare power of attorney allows them to make medical decisions for you if you’re incapacitated.
Can I change my estate plan after it’s created?
Yes, estate plans can be modified or updated over time. For example, you can revise your will, revocable living trust, or powers of attorney if your personal circumstances change, such as getting married, having children, or experiencing significant changes in your finances. At JCloud Law, we can help you review and update your estate plan to ensure it remains aligned with your goals.
What happens if I don’t have an estate plan?
If you pass away without an estate plan, your assets will be distributed according to Arizona state law, which may not align with your wishes. This could lead to lengthy probate proceedings and potential family disputes. Additionally, if you become incapacitated and do not have a power of attorney, someone may have to go through the courts to gain the legal authority to make decisions on your behalf. Having a well-drafted estate plan can save your family time, money, and stress.
How do I get started with estate planning?
Getting started with estate planning is easy! Contact us today at JCloud Law for a consultation. We’ll help you understand your options, guide you through the process, and create a customized estate plan that fits your needs.
How long does it take to create an estate plan?
The timeline for creating an estate plan depends on the complexity of your assets and the documents you need. On average, it can take a few weeks to a couple of months to complete, especially if you’re setting up a revocable living trust or other advanced documents. Our team will work efficiently to create a plan that works for you and your family’s future.
Do you offer estate planning services for clients outside of Arizona?
Yes! While we’re based in Scottsdale, Arizona, we serve clients nationwide. If you live outside of Arizona, we can still help you create a comprehensive estate plan that aligns with both Arizona law and the laws of your state.