Arranging for the management of your estate in the event of your death may seem like an intimidating and confusing task, but with the right help and guidance, estate planning can be relatively simple and painless. There are several basic elements of an estate plan. These include:
- Legal Documents
- Wills & Trusts
- Documents which allow your Agent to handle health care, financial, and burial matters
- Deeds to Real Estate
- Accounts and Beneficiary Forms
- Joint and Individual Accounts
- Life Insurance Policies
- Retirement Plans
- Giving Outright or in a Trust
- UTMAs, UGMAs, and 529 Plans
- UTMAs and UGMAs are gifts to minors which can avoid attachment to creditors or guardianship proceedings
- 529 Plans can be used to pay for higher education expenses, including food, housing, and cars. The gifts grows tax deferred and can be withdrawn tax free.
- Health and Education Expenses
While the elements of an estate plan may seem complicated, an experienced and knowledgeable Arizona estate planning attorney can guide you through each step. Getting your affairs in order before your death will make it much easier on your family when the time comes, and you can rest assured that your wishes will be followed. Call (480)-464-1111 to schedule a consultation with attorney, Dave Weed today.