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Wills, Trusts and Estate Planning
What is Estate Planning?
Estate planning is a process that involves preparing for the potential financial, medical, and guardianship issues that may arise after you die or become incapacitated. It is about making sure your wishes are honored regarding how your assets are distributed and who will make decisions on your behalf if you can't do so yourself.
What is a Will?
A will, also known as a last will and testament, is a legal document that outlines how you want your property and assets to be distributed after your death. It also allows you to specify who you want to care for your children, dependents, or pets if you have any.
What is Probate?
Probate is a court-supervised process that happens after someone dies. It involves proving a will's validity, identifying and managing assets, paying debts and taxes, and then distributing remaining property according to the will or state law. Essentially, probate ensures the deceased person's assets are legally transferred to their heirs or beneficiaries.
What is a Living Trust?
A Living Trust, also known as a Revocable Living Trust, is a legal document and trust that you set up during your lifetime to hold your assets and manage them on your behalf or on behalf of your beneficiaries. It's a way to ensure your assets are managed even if you become incapacitated or after your death, and it can bypass the probate process.
Why Should I Care?
You should care about estate planning, wills, and trusts because they are crucial tools for ensuring your wishes are carried out regarding your assets and loved ones, both during your life and after your death.
Estate planning helps with control over your assets such as in Wills, dictating who inherits after your death, or Trusts, which provide control over how and when assets are distributed. For instance, one way of protecting your family, especially minor children, is by nominating a guardian or providing financial security by minimizing potential financial burdens such as probate process by incurring additional attorney fees, court fees or possible tax consequences.
In essence, estate planning, including Wills and Trusts, provides you with peace of mind knowing that your affairs are in order, your wishes will be carried out, and your loved ones will be protected.
How Can Delta Dox Help?
To start, complete the short contact form with your information and a short description of what you are trying to accomplish. Once we receive it, we will contact you and take it from there. We will try to make this stressful and complicated process easier to manage.
Important: Please Read the Following Disclosure
**The material on this page is for factual and informational purposes only. Delta Dox is not a law firm, and we are not attorneys. We do not provide legal advice but prepare documents. At the present time, we only service the Maricopa County**
