Category: Estate Planning
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A last will and testament is a fundamental part of an estate plan. Your will expresses your directions for how your property will be managed and distributed upon your death. Although a properly executed will is usually enforced, your will may be contested by heirs or other parties asserting that it is legally deficient or […]
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A power of attorney can be an important part of your estate plan. This document gives someone you trust, known as your agent, the legal authority to act on your behalf in defined situations where you’re unable to do so. But what if that person becomes unavailable or unsuitable for the role? And what if […]
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Discussing estate plans with your parents necessarily involves two subjects that are traditionally taboo among family members: death and personal finances. Also, such discussions entail a reversal of traditional roles. Parents have spent years providing care, guidance and advice to their children, but now it is the children who often must lead the parents. Although […]
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Choosing a personal representative for your estate is a big decision and one that should not be taken lightly. Also known as an executor, your representative will be in charge of settling your estate, ensuring that the terms of your will are carried out and distributing property to the beneficiaries you have designated. These tasks […]
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A pour-over will is the same as any other last will and testament. But there is one major difference — this type of will “pours” your property into a trust that you’ve set up in advance. Upon your death, the assets are distributed to your intended beneficiaries through the trust, not through probate. The usual […]
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Probate is the court process by which property is distributed upon your death, either by will or under state intestacy law. Since probate proceedings can be lengthy and costly for surviving family members, you may wish to take steps to avoid it. In Arizona, there are a few ways you can cause property and assets […]
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Many people assume that they don’t need a will if they have a small estate and/or straightforward intentions regarding the distribution of their assets. They believe that Arizona’s succession laws will distribute assets in more or less the same manner as they would if they wrote a will, so why go through the trouble? Alternatively, […]
![Estate Planning in Arizona](https://www.penningtonestateplanning.com/wp-content/uploads/2021/06/trust-planning-estate.jpg)
Walt Disney’s grandson, Bradford Lund, has been embroiled in a 15-year probate court battle over trust distributions that he has not received. It has been estimated the amount at stake is approximately $200 million. Even after all this time, conflicts continue over the terms of the trust, Lund’s mental fitness and comments the trial judge […]
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After going through the process of creating a will and other estate planning documents, many people have tendency to put everything away in a file or safe deposit box and forget about it. Years go by, life changes, people pass away, all while the estate plan gathers dust. As a result, by the time you […]
![Probate Law in Arizona](https://www.penningtonestateplanning.com/wp-content/uploads/2021/08/probate-law.jpg)
Probate is the legal process by which a court decides how your estate will be settled among your creditors, heirs and beneficiaries when you die. Because probate can be long, complicated and costly, many people choose to create estate plans designed to exclude sizable portions of their property from the process. That means putting a […]