Buckeye Estate Planning Lawyer

5.0
5.0 out of 5.0

Mr. Pennington provided excellent service and advice beyond what I expected. Mr. Pennington is very consistent and honest in his practice. I strongly recommend Andre Pennington to anyone needing his expertise.

- Andres Campa
Pennington Law, PLLC

4252 N Verrado Way

Suite 203

Buckeye, AZ 85396

Phone: 623-289-2328

Fax: 623-215-9400

When planning for your future, estate planning is a critical component. “Estate planning” is creating a plan, along with the documents to support it, that will protect and manage your assets, both during your life and after your death. By working with a qualified Buckeye, Arizona, estate planning lawyer, you can ensure your assets are protected and distributed per your wishes.

At Pennington Law, PLLC, our experienced attorneys are dedicated to helping our clients establish a plan that meets their needs and provides for their loved ones after their passing. Contact us today for a free consultation to learn how our Buckeye, AZ, estate planning lawyers from Pennington Law can help you.

Why You Need a Buckeye, AZ, Estate Planning Lawyer

Estate planning is not just about what happens when you die. It’s also about protecting your assets and providing for your family during your lifetime. An experienced Buckeye, AZ, estate planning lawyer can help you create an effective plan that will protect your interests and provide for your family after your death or incapacitation. They can also show you how to minimize the tax implications of your estate plan and help you understand any legal documents you may need to file with the court.

 

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What’s the Importance of Having an Estate Plan?

Having an estate plan is essential to make sure your wishes are carried out, and your assets are safeguarded in the event of your death or incapacity. An estate plan provides a roadmap for your family and loved ones to follow when you can no longer manage your affairs, ensuring your assets are distributed according to your wishes and in the most tax-efficient way.

Estate planning can also ensure that you have a say in your own medical decisions if you become incapacitated and that you can provide for any dependents that are financially dependent on you. Without an estate plan, important decisions would be left to the courts, which could lead to unwanted outcomes, costly legal battles, and significant delays.

Estate Planning Benefits

Types of Estate Planning Services

An experienced attorney can advise you about creating an estate plan that meets your needs and supports your financial goals and objectives. Some of the estate planning services we offer include:

What Are the Elements of a Successful Estate Plan?

When creating an estate plan, there are some essential elements you’ll need.

Last Will and Testament

A will is a legally-binding document outlining your wishes for the distribution of your property, assets, and finances after you pass away. You could also include a designation about who will be the guardian for your minor children or dependents in your will.

Living Trust

A living trust allows you to transfer assets into a trust during your lifetime. The trustee can manage the assets in the trust and distribute them according to the terms of the trust document upon the grantor’s death. The assets held in trust will not be included in the deceased’s probate estate.

Living Will

Otherwise known as an advance directive, this document outlines the medical treatments you would like to receive if you become incapacitated or unable to make those decisions for yourself.

Power of Attorney

This document designates someone you trust to manage your finances and make decisions on your behalf if you become incapacitated. This person can act in your place and make decisions about financial or medical matters.

Parent Contingency Plan

This document outlines what will happen to your minor children if something happens to you. It will detail who will take custody of the children, who will provide for their financial needs, and other important considerations.

Estate Plan Essentials

What Is a Trust?

A trust is a legal entity. When a person establishes a trust, they fund the trust by re-titling their assets into the name of the trust. The trust is managed by a trustee who handles the assets of the trust and distributes them to the trust’s beneficiaries upon the death of the grantor or according to the timeline set out in the trust document.

A trust can be used for various purposes, including avoiding probate, protecting assets from creditors, managing estate taxes, providing for minors or special needs beneficiaries, and more.

What Is Probate Administration?

Probate administration is the legal process of transferring a deceased person’s assets to their heirs according to the terms of their will or state laws if no will is in place. Probate involves submitting the decedent’s will to the court, identifying and inventorying the decedent’s assets, paying off any creditors and taxes, and distributing the remaining assets to the rightful heirs. The probate court supervises the process to ensure all assets are properly transferred.

What Is a Guardianship?

Guardianship is a legal designation granted by the court. The person who is appointed guardian has the authority to make decisions about basic care and daily necessities on behalf of an incapacitated adult.

This process typically involves a petition to the court, where the proposed guardian must provide evidence that the proposed ward (the person who needs a guardian) cannot make decisions concerning their health and welfare due to disability or incapacity.

Once the court approves the guardianship, the guardian is responsible for making decisions on behalf of the ward, such as medical treatment and personal decisions. The guardianship may be temporary or permanent, depending on the circumstances.

Guardianship of minors is also possible.

What Is a Conservatorship?

A conservatorship is a legal process that appoints a person (the “conservator”) to manage the financial affairs of someone who cannot do so on their own (the “conservatee”). The conservator is responsible for making decisions related to the conservatee’s property and assets, such as managing finances and handling legal matters, and acting in the incapacitated person’s best interests.

What Is Estate Litigation?

Estate litigation is the process of resolving disputes regarding the interpretation and enforcement of wills, trusts, and other estate planning documents. Estate litigation can occur before or after a person’s death but typically occurs after death. Estate litigation may involve disputes among family members, creditors, and beneficiaries and might challenge the validity of the will or trust.

Estate Planning Breakdown

What Does an Estate Planning Lawyer Do?

An estate planning lawyer is a legal professional who helps people plan for their future and the future of their families by creating legal documents like wills, trusts, powers of attorney, healthcare directives, and more. Estate planning attorneys are well-versed in tax laws, trusts, and other matters related to end-of-life planning. They can advise clients on strategies that will help protect their assets, reduce taxes, and provide for their family’s future financial needs.

Estate planning lawyers provide important services that help clients create a plan that best suits their situation. Here are some of the ways an estate planning attorney can help:

  • Draft Estate Planning Documents – An estate planning lawyer can help draft and execute various estate planning documents, such as wills, trusts, power of attorney documents, healthcare directives, and more.
  • Provide Guidance on Tax Matters – Estate planning attorneys understand how tax laws affect estate planning decisions. They can advise you about minimizing taxes, taking advantage of certain tax deductions and credits, and more.
  • Create and Administer Trusts – An estate planning lawyer can assist clients with setting up trusts, administering them during life and after death, ensuring trust compliance with applicable laws, and more.
  • Prepare and File Probate Documents – When an individual passes away without an estate plan or has an incomplete plan, their property may have to go through the probate court. An estate planning attorney can prepare and file the necessary documents with the court.
  • Represent Clients in Estate Litigation – If there is a dispute regarding an estate plan or its implementation, an estate planning lawyer can represent their client in court.
  • Advise Clients on Guardianships and Conservatorships – An estate planning attorney can explain the differences between guardianship and conservatorship and help clients set up these arrangements if needed.

How Much Does an Estate Plan Cost?

Estate planning can be a complicated and costly process. Depending on the complexity of your estate plan, it may range from a few hundred to several thousand dollars. The cost of an estate plan depends on the type of services you need, the number of documents involved, and how complicated your situation is. A good estate planning attorney will discuss your options and help you choose the best plan for your needs. They should advise you upfront about what they think your plan will cost.

How Can a Buckeye, AZ, Estate Planning Lawyer Help?

A qualified Buckeye, AZ, estate planning lawyer from Pennington Law, PLLC, can help you develop an effective plan that meets your unique needs and goals. We can provide comprehensive guidance on all aspects of estate planning, from drafting your will and other estate documents to helping you select the best trusts for your estate plan. Our knowledgeable attorneys can also assist with probate administration and estate litigation. With our experience and understanding, we can help you create an effective strategy that meets your needs and those of your family.

Contact an Experienced Buckeye, Arizona, Estate Planning Attorney Today

If you need a qualified and knowledgeable estate planning lawyer in Buckeye, look no further than Pennington Law, PLLC. Our estate planning law firm offers personalized advice and counsel to clients in Buckeye, Arizona, and is dedicated to helping you protect your assets, your loved ones, and your legacy. Call us today to get started on securing your future.