Know the facts about Phoenix Estate Planning Attorney

It was thought for a long time that only wealthy individuals required wills. Everyone needs to have one, however. Many individuals have assets like a car, a house, a savings account, and more. Drawing up this vital paper lets your family know what might happen to these problems after you have died. Although you’re gone, bickering and unpleasant feelings among your impoverished friends and family can be removed by a professionally executed will. Get the facts about Phoenix Estate Planning Attorney see this.
It’s a definite must if you have younger ones. This legal document will clarify what, if you die, should happen to your children. Without this, the children may be in the midst of a custody dispute between families, placed in foster care, or end up with a parent who may be uncomfortable serving as their guardian.
Your medical wishes are followed by a living will
A living will is a type of document that is much different. In case you become too sick or incapacitated to make choices for yourself, a living will, also known as an advanced medical directive, sets out what you want to happen. In the event that you do not make them for yourself, you can also nominate someone to serve as your medical power of attorney, who is the person responsible for medical decisions. Several states have defined laws that specify when an advanced medical directive comes into force. Contact estate lawyers in your area and ask for advice if you are confused about what is best for you.
Ask Trusts for Estate Attorneys: They’re Not Just for The Rich
A trust fund conjures up pictures of rich young people who have never worked in their lives for a day, but this is a complete stereotype. For a parent, someone with assets to pass on will establish a trust. Estate planning lawyers may describe trusts in more depth, but a trust simply allows the deceased the right to choose how to spend money once they’re gone. If you want to ensure that the beneficiary‚Äôs complete college before the money is distributed, or if you want to space out the distributions so that one big lump sum of cash is not allocated to the beneficiary, trusts are the ideal solution.