Your estate plan is the best way to ensure that your assets are distributed according to your wishes. Wills and trusts may appear rather confusing and more effort than they’re worth, but they are invaluable tools to avoid probate court. These documents could save your loved ones and beneficiaries from litigation over possessions, land, and other assets. A trust will help to keep any arrangements clear.
You should try to avoid probate court because the process can be costly, time consuming, and damaging to personal relationships. Also, if your gifts are not clearly written in a valid will or trust, it is possible that your estate will be distributed according to Arizona statutes. The court could rule that your intended beneficiaries will not receive the gifts you intended. This could clearly result in distributions that are far from your wishes. Although litigation may resolve a dispute, the parties pay in other costs, that include spending valuable time away from work and family. The probate court case could actually cost more than the amount decedent’s are fighting over. For this reason, we recommend that you avoid probate litigation and here are some tips on how:
Call Experienced Estate Planning Counsel
Consulting with an experienced estate planning lawyer is the best way to avoid probate court. Experienced counsel James A. Robles collaborates with you to ensure your documents are legally binding and enforceable should the worst happen. The estate planning process involves thorough discussion about your assets, and people and organizations important to you. Listening and understanding your wishes for whom you want to provide after passing is crucial. Only after understanding your wishes can we advise about your available options. There is no “one size fits all” estate plan at the Law Firm of James A. Robles, PLLC. While a trust may be desirable for one person, for others, it could be costly and unnecessary. Only after you understand your options and your decisions will we draft your tailored estate plan documents.
Drafting the documents is only the first step. Proper execution of the documents is essential to ensure the documents are legally enforceable. For example, a court could rule that a will is invalid because the decedent failed to execute the documents according to Arizona requirements. Other life changes such as divorce or having children could call the will’s validity into question. Calling the Law Firm of James A. Robles will ensure that the documents are proper and enforceable under Arizona law.
Special Tools and Procedures Could be Recommended
While unfortunate, some people know family members who may try to “stir the pot” or engage in unethical conduct to bypass your desires. We may recommend an in terrorem clause, which means that anybody who objects could immediately void their gift. While not useful in all circumstances, the “no contest clause” is a potent deterrent to unwanted probate litigation.
People crafting their estate plan must be “of sound mind” and under “no undue influence.” Sometimes a medical condition could cause question about whether those conditions are met. In turn, those questions can give rise to probate challenges. We may recommend that the estate planning client undergo capacity tests by a qualified medical professional. The results could mean the difference between avoiding any probate proceedings or your beneficiaries having to defend your documents in court.
A Complete Estate Plan Package Should Include Your Powers of Attorney
While the discussion so far focused on a properly executed last will and testament and possibly a living trust, proper power of attorney is an important component of your estate plan. In general, a power of attorney is a legal tool that allows you, as a principal, to appoint an agent to conduct business and make decision on your behalf. Unlike wills and trusts, powers of attorney have no legal authority after the principal passes. The power of attorney may be useful when you are unable to communicate or conduct business on your own behalf.
The power of attorney contains the limits the the authority granted to the agent. For example, a general durable power of attorney may give your agent authority to conduct certain business relating to banking, financial matters, mortgages, insurance, and even taxes. A general durable power of attorney can also exclude certain powers.
A healthcare power of attorney grants your agent authority to make your medical decisions when you cannot communicate your choices. Medical providers, including hospitals, require that your agent present a valid healthcare power of attorney. Hospitals could require a healthcare power of attorney to comply with medical privacy regulations. The hospital will also need to verify that the proper person is making critical healthcare decisions. Our estate planning packages also include a living will (distinguished from a last will and testament) that allows you to make predetermined choices about the medical care you desire, or wish to forego.
Call the Law Firm of James A. Robles, PLLC Today to Talk about Your Estate Planning Goals
Estate planning provides the peace of mind that your wishes will be honored after passing. Call James A. Robles today to schedule a time to discuss your estate planning questions, concerns, and goals.