Last Will and Testament
A will or testament is a legal document that expresses a person's wishes as to how their property is to be distributed after their death and as to which person is to manage the property until its final distribution.
Arizona Estate Planning Attorneys
Estate planning is the creation of a plan for managing your assets while you’re alive and distributing it after your death. These assets may be owned by you separately or jointly with others. Estate planning is the preservation and the distribution of your assets, both during your life and upon your death. When we talk about an estate, we mean all assets of any value that you own, including real property, business interests, investments, insurance proceeds, personal property and even your personal effects. An “estate plan,” generally, refers to the means by which your estate is passed on to your loved ones or charities/organizations of your choosing at your death. A Phoenix estate planning lawyer can help you with a variety of estate planning methods.
Tyler Allen Law Firm provides estate planning in the following areas:
Revocable and Irrevocable Trusts
A revocable trust and living trust are separate terms that describe the same thing: a trust in which the terms can be changed at any time. An irrevocable trust describes a trust that cannot be modified after it is created without the consent of the beneficiaries.
Healthcare and Financial Power of Attorney
A medical/healthcare and financial power of attorney are advance directives in which you name a person to make decisions for you when you are unable to do so.
Mastering Estate Planning for Digital Assets
Recognizing the protection an estate plan can provide to your family is the first step to not only bringing you peace of mind but also protection for your family. Tyler Allen Law Firm attorney, Anjali Patel recently sat down with Legacy Leaders’ Stan Miller to discuss how to master estate planning for digital assets including how to:
Unveil the essential nature of estate planning that transcends economic status
Demystify the perceived complexity and costliness of orchestrating an estate plan
Embrace the importance of acting decisively in executing your estate planning strategy
Delve into the realm of digital assets and the need for a dedicated digital executor in your plan
Recognize the immense protection and peace of mind an effective estate plan provides to your family
To watch the interview in its entirety please click the play button below. If you find yourself in need of estate planning assistance, please contact us by filling out the form on this page or calling us at (602) 456-0545.
“I thought the estate planning process was out of my reach until Anjali walked me through it. I was surprised to find that it was easier than I thought it would be and was actually pretty fun. ”
Probate
Probate is a legal process that occurs after a person's death to validate their will, if one exists, and to oversee the distribution of their estate according to their wishes or, if there's no will, according to state laws. This process involves proving in court that a deceased person's will is valid, identifying and inventorying the deceased's property, appraising the property, paying debts and taxes, and, finally, distributing the remaining property as the will (or state law, if there's no will) directs.
The probate process starts with the appointment of an executor or administrator. If the deceased left a will, it usually names an executor who is responsible for carrying out the terms of the will. If there's no will, the court appoints an administrator to handle the estate. This individual is responsible for locating and securing the estate's assets, paying off any debts and taxes, and distributing the assets to the rightful heirs.
Probate can be a complex and time-consuming process, depending on the size and complexity of the estate, whether the will is contested, and the laws of the state where the deceased resided. Some assets, like life insurance policies and retirement accounts with named beneficiaries, may not have to go through probate. The process ensures legal clarity and fairness in the distribution of the deceased's assets, providing peace of mind to all parties involved that the decedent's wishes are honored and legal obligations are met. Learn more by reading our latest blog Understanding Uncontested Probate: A Guide Through the Simpler Side of Estate Administration.
What to do Next
If you’re in need of estate planning assistance, contact an Arizona estate planning attorney at Tyler Allen Law Firm, together, we will carefully consider and review your estate and come up with a plan that gives you control over your legacy. Contact us today by filling out the form on this page or calling us at (602) 456-0545. We’re here to help.