Comprehensive Estate Planning Services in Northern Arizona

Estate planning is an essential process that involves preparing for the management, administration, and ultimate transfer of your assets in the event of incapacitation or death. Proper estate planning can help you secure your assets and legacy, minimize tax liabilities, and ensure that your loved ones are taken care of according to your wishes. However, estate planning can be complicated and overwhelming, especially for those unfamiliar with the process. At AWD Law, we understand the importance of estate planning and offer comprehensive estate planning services to residents of Northern Arizona. There is no “one size fits all” estate plan, so our experienced attorneys provide personalized solutions to meet your unique needs and ensure your peace of mind.

Understanding Estate Planning in Northern Arizona

There are many things you’ll want to know about the law when planning your estate in Northern Arizona. One of the key factors to consider is the state’s inheritance tax laws. Unlike many other states, Arizona does not have an inheritance tax. This means that your beneficiaries will not be required to pay any state-level estate taxes on the assets they inherit from you. However, it’s important to note that there are still federal estate tax laws that may apply, depending on the value of your estate. Our experienced attorneys will help you analyze any potential estate tax issues of your estate.

Another important consideration when planning your estate in Northern Arizona is the state’s probate laws. Probate is a legal process that takes place after someone dies. This process includes, among other things, proving the validity of a Will, appointing someone to manage the decedent’s affairs, paying debts and taxes, and distributing the decedent’s property to the decedent’s heirs/beneficiaries. Through proper planning, our experienced estate planning attorneys can ensure that your assets are distributed according to your wishes without the need for probate.

Additionally, if you own property in Northern Arizona, it’s important to consider the state’s community property laws. Arizona is a community property state, which means that all assets and debt acquired during a marriage are considered to be jointly owned by both spouses. While there are some exceptions to this default rule, it is important to consider whether your assets will be deemed community or separate property upon your death, incapacity, or divorce as this designation can have important implications for your estate plan.

Key Components of an Estate Plan 

One of the most important aspects of estate planning is understanding the key components of a comprehensive estate plan. A few of these components include:

• Last Will and Testament: This document applies only upon death, and has three main functions: (1) state who receives your assets – your “Beneficiaries”; (2) state who takes over for you to wind up your affairs – your “Personal Representative”; and (3) states who you prefer to take care of any minor children and their assets, if applicable – a “Guardian and/or Conservator.”
• Trusts: The overwhelming majority of trusts used for estate planning are revocable living trusts that allow the creator to continue to have full and complete control over his or her assets while alive and healthy. However, upon the death or incapacity of the creator, there is no need to go to court for probate or other proceedings as a new trustee would be required to carry out the creator’s wishes without court involvement. A trust also covers any of life’s “what-ifs” by planning for any possible contingencies (such as minor or incapacitated beneficiaries). Again, a trust is designed to allow the creator to dictate precisely what happens up on his or her death or incapacity without court involvement, costs or delays.
• Health Care Power of Attorney: ‍This document allows an individual, the principal, to appoint an “agent” or “attorney-in-fact” to make medical decisions on behalf of the principal and otherwise deal with medical professionals if the principal is unable to participate in their own medical care decisions (for example, due to an Alzheimer’s, stroke, coma, etc.). Typically, a Living Will would also be executed with the Health Care Power of Attorney.
• Healthcare Directives: Healthcare directives, also known as living wills, allow you to specify your wishes for medical treatment if you become incapacitated and cannot make decisions for yourself. This can include instructions for life-sustaining treatment, pain management, and other medical interventions.
• Durable Power of Attorney: ‍This document is valid only during the life of the principal who names an “agent” or “attorney-in-fact” to do things the principal could do from a financial standpoint. This includes paying the principal’s bills, banking, managing accounts and other assets, and dealing with any third parties that the agent could otherwise deal with on her own. The agent is required to act for and on behalf of the principal and has certain legal duties that must be followed in carrying out actions on behalf of the creator of the POA.
• Wealth Transfers and Tax Planning: If necessary, AWD attorneys can assist you in complicated wealth transfers, including transfers made during life and transfers to occur at death. AWD attorneys can help you maximize tax savings through gifting plans, irrevocable trusts, and several other legal mechanisms available for high net worth individuals looking to protect their wealth through estate planning.

AWD Law is committed to helping you achieve your estate planning goals. Contact us today for assistance with any part of your estate plan. 

Why Choose AWD Law for Your Estate Planning Needs

At AWD Law, our team of highly skilled attorneys possess vast expertise and experience in estate planning. With over 45 years of serving clients in Northern Arizona, we have a deep understanding of the complex legal requirements involved in estate planning. 

Our team is dedicated to providing exceptional services and takes a client-centric approach, ensuring that all unique needs and concerns are addressed. We work closely with our clients to understand their financial goals and objectives, providing tailored solutions that meet their specific needs. 

You can count on us to be well-versed with the latest developments in estate planning law, with the ability to provide clients with sound and practical advice. We are committed to helping clients protect their assets and ensure that their loved ones are provided for in the future. 

AWD Law is an excellent choice for anyone looking for a reliable, local, and experienced law firm to assist with their estate planning needs.

How We Can Help – Our Services 

We understand the importance of estate planning in securing your legacy and providing for your loved ones. That’s why we offer comprehensive estate planning services that are tailored to meet your unique needs. Our experienced attorneys work closely with you to understand your financial goals and objectives while providing personalized solutions to ensure your peace of mind.

Personalizing Your Plan: One of the key estate planning services we offer is creating a personalized estate plan. We understand that every individual’s needs differ, so we take a client-centric approach to estate planning. Our attorneys work with you to identify your assets, beneficiaries, and any special considerations, and from there, we create a customized estate plan that reflects your wishes.

Probate and Estate Administration Services:  These services will help you navigate the legal process of distributing your assets after your death. Our attorneys have extensive experience in probate law and can help you avoid the costly and time-consuming probate process [NOTE: I WOULD LINK TO THE PROBATE PAGE HERE] or guide you through it, depending on your unique situation.

Living Trusts and Wills: A living trust can help you avoid probate, minimize taxes, and provide for the ongoing care of beneficiaries who may not be able to manage their own finances. Our attorneys can help you create a living trust that meets your specific needs and objectives. We can also help you create a will that outlines how your assets will be distributed after your death.

Guardianship and Conservatorship Services: These services will help you ensure that your loved ones are taken care of if you become incapacitated or unable to make decisions for yourself. Our attorneys can help you appoint a guardian or conservator who will manage your affairs and ensure that your wishes are carried out.

Estate Planning Resources

Online Estate Planning Resources: There are many great websites out there that can help you learn more about the estate planning process. A few of our most used resources include: 

• The State Bar of Arizona
• NOLO

Online Seminars and Webinars: Many organizations offer online seminars or webinars to educate clients on estate planning topics. Questions can be answered in real time.

These resources can be invaluable for clients who are looking to protect their assets and ensure that their wishes are carried out. 

Client Testimonials and Success Stories 

At AWD Law, we understand the unique estate planning considerations that are specific to Northern Arizona. Our experienced attorneys have a deep understanding of the state’s laws and regulations and can help you create an estate plan that meets your unique needs and objectives. Contact us today to schedule a consultation and learn more about how we can help you with your estate planning needs. 1-800-774-1478