Amy B. Dodell, Attorney at Law
Amy B. Dodell, Attorney at Law
A will is a set of instructions for the living. Once a person passes away, all of their wishes pass with that document. A court must do its best to honor the wishes of the person who made the will. Once all of the property is distributed under a will, no one will have ongoing control over how estate funds get invested or spent.
A trust, on the other hand, gives a person more control over the future of the funds in his or her estate. A trust serves as a contract between the decedent and the named trustee who is charged with managing the trust. The agreement requires the trustee to act in a certain way so as to preserve the trust and honor the decedent’s wishes.
Do you have a family member with special needs? Do you wish to protect your assets? Trusts come in various forms. The are designed to have separate legal identities from the grantor, the trustee, and the beneficiary, they offer more flexible ways of managing, distributing, and protecting your family’s assets. However, not everyone needs a Trust and their goals can be accomplished with a Will. After we meet, I can help you figure out the best way you can protect your family’s assets and plan for end of life distribution to your loved ones.
A will should provide clear instructions on how you would like the assets in your estate to be distributed after you pass away. You can make those instructions as general or as specific as you would wish. You could choose to leave your property in shares, or you could choose to list specific beneficiaries as recipients of specific types o
A will should provide clear instructions on how you would like the assets in your estate to be distributed after you pass away. You can make those instructions as general or as specific as you would wish. You could choose to leave your property in shares, or you could choose to list specific beneficiaries as recipients of specific types of property. For instance, you could leave a residence, vehicle or personal property such as art jewelry or heirlooms to one or more specific beneficiaries. You could also name a charity or other organization as a beneficiary.
No two Wills are alike. You may think that hand-writing a Will, or typing one up by yourself is adequate for your loved ones to administer your estate, however, most do not understand the legal implications of an improperly written Last Will and Testament. Every state has its own requirements and it is best that you hire a competent estate planning attorney to prepare your Last Will and Testament. Based on your individual assets, I will be in the best position to guide you and prepare an estate plan that will accomplish all of your end of life goals and will also protect your loved ones to ensure your assets are distributed according to your wishes.
A living will in Arizona only becomes effective when you can no longer communicate your own desires. Arizona recognizes the Living Will, which is a legal document that would allow you to provide a written statement outlining your requests with regard to your medical treatment in the event circumstances change and you are no longer able t
A living will in Arizona only becomes effective when you can no longer communicate your own desires. Arizona recognizes the Living Will, which is a legal document that would allow you to provide a written statement outlining your requests with regard to your medical treatment in the event circumstances change and you are no longer able to provide instructions about your medical treatment. A Living Will sets forth the decisions you wish to express while of sound mind. No family member or friend will have the legal ability to change your decisions
Yes, your trust will be created to include your specific estate planning objectives. Whether it’s providing for the inheritance of your minor child, or planning for your favorite charities, each trust is unique and will include your estate distribution and will name your successor trustees and your beneficiaries, much like a Will, but will be administered without the need for a probate.
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