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Estate Planning Attorney in Phoenix, AZ

Home Estate Planning Attorney in Phoenix, AZ
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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
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Estate planning is critical for preparing for the future and protecting your loved ones should the unthinkable happen. If you are looking for estate planning services in Phoenix, Arizona, the attorneys from Pennington Law, PLLC would like to hear from you. We have extensive experience helping Arizona residents from all walks of life, including retirees, families, business owners, military members, and more. Deciding on end-of-life issues can be intimidating, but we can guide you and design a plan tailored to your specific estate planning needs.

Contact us today for a free consultation with a Phoenix estate planning attorney.

Why Phoenix Residents Need a Dedicated Estate Planning Attorney

Most people don’t like to think about the prospect of becoming seriously ill or dying. However, failing to plan your estate could have serious consequences for your loved ones. Below are just a handful of the benefits of working with a Phoenix estate planning attorney from Pennington Law, PLLC:

  • Reduce Conflict. Without estate planning tools like a last will and testament, disputes can arise over how to distribute your assets. Having a definite plan reduces the chances of conflict and facilitates a smooth transition.
  • Simplify Probate. Estate planning mechanisms can also simplify the probate process and reduce costs, allowing your beneficiaries to inherit a larger portion of your assets.
  • Explain Tax Advantages. Some estate planning mechanisms, such as irrevocable trusts, can also reduce estate taxes and pass a greater share of wealth to your beneficiaries.
  • Respect Your Desires. If you don’t have a plan in place when you die, the state will appoint someone to manage your affairs according to intestate laws, which may not align with your beliefs and philosophy. Estate planning can preserve your legacy by ensuring your wishes are honored.

At Pennington Law, PLLC, we have a passion for helping families. Our goal is to help you secure your future with smart and efficient estate planning. Whether you need to update your will or establish a trust, we can assist. Life can be full of unexpected events, but we can help you cover your bases and prepare for whatever may lie in store.

Our Estate Planning Services in Phoenix, AZ

Pennington Law, PLLC provides a wide range of estate planning services for Phoenix residents, including the following:

  • Wills: A will provides instructions on how to distribute your assets upon death. A will enumerates your assets and names beneficiaries who will inherit them. Without a will, there can be confusion over who gets what. Your will can also provide guidance on who will assume guardianship of your minor children if you pass away.
  • Trusts: A trust is a tool that allows you to transfer assets to a trustee to manage on behalf of a beneficiary. With a trust, you can exempt assets from the probate process and set them aside for those of your choosing. There are many different types of trust, each with its own specific benefits. For example, you can put restrictions on accessing assets in a spendthrift trust to protect heirs with spending problems and creditors.
  • Advance Directives, Powers of Attorney, and Living Wills: Advanced directives allow you to nominate someone to make decisions if you become incapacitated. A financial power of attorney can make financial decisions regarding your estate, and a healthcare power of attorney can make decisions concerning medical treatment. We can also help you create a living will that outlines your wishes and beliefs regarding end-of-life and life-sustaining medical care.
  • Probate & Estate Administration: Our estate planning law firm in Phoenix, AZ can manage probate and administer the estates of the deceased. We can connect you with experts, such as accountants and real estate agents, to help you account for the estate. We can also advocate for your estate’s and heirs’ benefits during probate court.
  • Wealth Protection: Our attorneys can also assist you in achieving financial independence and security through long-term wealth planning and retirement tax strategies.

If you have any more questions about our legal services, give us a call to discuss your situation with one of our experienced estate planning lawyers.

When Should You Hire an Estate Planning Attorney?

Many people believe that estate planning is only for the wealthy. However, virtually anyone can benefit from estate planning, no matter their income or net worth. Below are some specific circumstances when hiring an estate planning attorney might be a good idea:

  • You have dependents. A major aspect of estate planning is providing for the people who rely on you. A good estate plan can ensure financial security for children and adult dependents.
  • You have a high-value estate. High-value estates are complex and may have to deal with inheritance taxes. An estate planning attorney can help you organize your estate efficiently and use tools to avoid as much estate tax as possible.
  • You own out-of-state assets. Probate and estate administration can become exponentially more complex when out-of-state assets are involved. You will need counsel who can understand local laws and the laws in the state where the property resides.

What Is the Process of Hiring an Estate Planning Attorney in Phoenix?

Below are some key tips for hiring an estate planning attorney in Phoenix:

  • Seek out recommendations. One place to start looking for an attorney is by asking for professional recommendations from friends, family members, and colleagues. You can also find attorney referrals through the Arizona Bar Association.
  • Value experience. Your attorney should focus on estate planning and be able to provide in-depth knowledge about Arizona’s estate planning laws. They should also be able to address your particular objectives, such as helping with business planning or asset protection. A knowledgeable estate planning attorney can most effectively meet your goals.
  • Consider personality. Your estate planning attorney will manage some of the most private and sensitive issues in your life, so it’s important to pick someone you get along with and trust. A compassionate attorney can empathize with your needs and provide personalized services tailored to your concerns.

Contact Our Experienced Estate Planning Lawyers at Pennington Law

The attorneys at Pennington Law, PLLC are here to assist with the fine details of planning for your future. We are committed to protecting your future and will use every available advantage to safeguard your wealth and carry out your wishes. It is never too late to think about the future, so contact our offices today to consult with an estate planning attorney in Phoenix.

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What’s the Importance of Having an Estate Plan?

You might assume you don’t need an estate plan if you’re young, have few assets, are in good health, or don’t have kids. However, estate planning can benefit anyone.

An estate plan lets you communicate your final wishes. By doing so, the people you leave behind do not have to guess what you would have wanted or go through a complicated probate process. Instead of worrying about whether your loved ones will receive the assets you leave behind, your estate plan can establish who should receive what upon your death.

You can include documents to appoint a guardian for your minor children or determine who should care for your pets. You can also address end-of-life care, such as your preferred treatment and whether you want a do-not-resuscitate order.

A comprehensive estate plan also resolves matters such as:

  • Designating someone to make your decisions if you’re incapacitated
  • Ensuring your assets are distributed to the appropriate individuals, entities, or charitable organizations when you die
  • Specifying the person or people who should assume the parenting role of your minor or dependent child
  • Reducing estate taxes
  • Avoiding the probate process

Estate Plan Matters

Types of Estate Planning Services

At Pennington Law, PLLC, our estate planning services include the following:

  • Providing for the transfer of a business upon death, incapacity, or retirement
  • Using a healthcare directive or living will to instruct your doctors on your preferred medical care if you can’t speak for yourself
  • Reducing estate taxes and other unnecessary costs for your surviving family
  • Arranging for guardianship of a minor child or disabled adult in your care
  • Addressing the financial aspects of your funeral, medical bills, and other necessary expenses to close out your estate
  • Protecting a relative with poor spending habits by setting up a trust
  • Outlining detailed notes regarding a trust, power of attorney, or living will

 

What Are the Elements of a Successful Estate Plan?

A will is just one of many documents you should include in your estate plan. Estate planning makes use of many different legal instruments to protect you and your family. The vital parts of a successful estate plan include the following:

Power of Attorney

A power of attorney (POA) authorizes a person known as an agent to act on your behalf if you become incapacitated. They can handle your personal, financial, or medical affairs if you can’t make sound decisions.

Last Will and Testament

A last will and testament directs the transfer of property in your estate when you die. If you don’t have a will, intestate succession laws determine the administration of your estate. That means assets will pass based on your surviving family, such as a spouse or child in the line of succession. Intestate estates typically spend more time in probate.

Living Will

When you create a living will, you select an agent to make your decisions if you can’t communicate your wishes yourself due to incapacitation. Your agent is legally authorized to inform your doctors of your preferred medical care, such as CPR, medications, and when, if ever, to take you off life support.

Parent Contingency Plan

Thinking about death is scary. You might want to avoid the topic, but choosing who should care for your children when you die is crucial to their well-being. With a parent contingency plan, the person or people you pick will be responsible for raising your kids how you would. You can include a financial power of attorney so they can access your finances to pay for necessary expenses if you’re alive but unable to communicate.

Living Trust

A living trust is a legal agreement between you and your successor trustee. As the primary trustee, you maintain control of the trust during your lifetime. You can revoke it anytime and transfer assets into and out of it. When you die, your successor trustee will oversee the administration and distribute the remaining assets to your beneficiaries.

Estate Plant Elements

What Is a Trust?

A trust is a legal document involving the grantor (who establishes the trust) and an appointed trustee. The grantor can also be the trustee and handle the trust while alive. They must select a successor trustee to assume control over the trust and oversee the distribution of the assets upon their death.

What Is Probate Administration?

Probate administration is the legal process of validating a deceased person’s will and authorizing the transfer of assets according to their estate planning documents and state law. There are three types of probate in Arizona:

  • Formal Probate – Formal probate proceedings require a judge to oversee the case to resolve disputes, such as the contestation of a will or who should serve as the personal representative.
  • Informal Probate – If no one challenges the will’s validity, the estate can go through informal probate. The court will confirm that the personal representative can fulfill their duties and allow them to proceed with minimal supervision.
  • Supervised Probate – Some estate plans require a judge to monitor every stage of the process. If a personal representative must go through supervised probate, they can’t take action without court approval. For example, a judge must authorize asset distribution or payment to a creditor.

What Is a Guardianship?

Guardianship is the ability and obligation to make important decisions on behalf of someone who cannot do so themselves. That person may be a child, an elderly person, or anyone who cannot manage their personal affairs.

Anyone with an interest in the welfare of that person can petition the court to be their guardian. A doctor must confirm incapacitation for the court to proceed with the case. A judge will appoint a lawyer to represent the incapacitated person and determine whether the requesting party should have legal authority over personal matters.

Guardianship is also available for minor or dependent children. You should consider naming a guardian in your estate plan if you have kids. Whoever you choose will step in and handle their care if you die or become incapacitated.

What Is a Conservatorship?

A conservatorship is similar to a guardianship, except that the conservator merely manages the person’s financial affairs rather than making all major decisions on their behalf. The law requires conservators to maintain detailed records of accounting activity and provide the probate court with yearly reports.

What Does an Estate Planning Lawyer Do?

An estate planning attorney creates the legal instruments for the handling of a person’s estate, finances, property, and medical care. They do so by:

  • Drafting a last will and testament
  • Finding methods of avoiding probate
  • Setting up trusts to protect the grantor and their beneficiaries
  • Selecting a personal representative for the estate
  • Locating potential tax liabilities and finding ways to avoid them
  • Establishing a medical or financial power of attorney
  • Determining whether to include guardianship in the estate plan

How Much Does an Estate Plan Cost?

The cost of estate planning depends on the estate’s size, the number of beneficiaries, and several other factors. You should talk to a Surprise, Arizona, estate planning lawyer about your needs and what crafting an estate plan to meet them might cost.

How Can a Estate Planning Lawyers in Surprise, AZ Help?

Pennington Law, PLLC can handle all aspects of planning your estate, including by:

  • Reviewing, drafting, or updating wills, trusts, and other documents
  • Probating the estate of your loved one
  • Appointing a healthcare surrogate to manage your medical care in the event that injury, incapacitation, or illness prevents you from expressing your wishes
  • Drafting and modifying powers of attorney
  • Guiding guardianship or conservatorship proceedings

Contact an Experienced Surprise Estate Planning Attorney Today

Whether you’re in the beginning stages of planning for the future or you’re interested in updating documents you executed in the past, Pennington Law, PLLC is ready to serve as your trusted advocate. Call or contact us online to speak with an experienced Surprise, Arizona, estate planning attorney.