{"id":944,"date":"2017-12-04T19:55:28","date_gmt":"2017-12-04T19:55:28","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/?page_id=944"},"modified":"2024-10-04T22:18:07","modified_gmt":"2024-10-04T22:18:07","slug":"estate-planning-tools","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/blog\/estate-planning-tools\/","title":{"rendered":"5 Useful Estate Planning Tools"},"content":{"rendered":"<h2>Introduction<\/h2>\n<p><span style=\"font-weight: 400\">Protecting one&#8217;s wealth is one of the most important priorities every person has in the modern world. Let&#8217;s say you come up with an effective <\/span><a href=\"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/\"><span style=\"font-weight: 400\">estate plan<\/span><\/a><span style=\"font-weight: 400\">. In order to protect it, you must implement efficient estate planning tools. These tools will offer you the necessary knowledge to protect your estate plans. <\/span><\/p>\n<h2><span style=\"font-weight: 400\">Wills<\/span><\/h2>\n<p><span style=\"font-weight: 400\">You need to have a will. It should be updated regularly. A will is a document that has been legally drafted by a lawyer or an attorney. This document states when, how, and to whom all the assets you possess will be given in case you die. Make sure your will is simple. Several items should be taken into consideration when making a will include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Specify the beneficiaries, including the specific bequests. <\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Mention who the legal guardian will be for underage children. <\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">State the executor of the will. <\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">List the assets to be distributed immediately and those to be placed into trusts. <\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Mention any charities or organizations you want to benefit from the will. <\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400\">Establish Trusts<\/span><\/h2>\n<p><span style=\"font-weight: 400\">A trust will help in achieving more specific and complex financial targets that you might have. This is a legal arrangement that specifies how the distribution of any asset will be managed (property or cash). Transferring assets to a trust can be done when someone is still alive. Or, you can state them in your will. Trusts have many merits; they allow the fast transfer of properties to the beneficiaries with no cost or delays, they offer ongoing income to the beneficiaries, they cut down the estate taxes, and they are advantageous to favorite charities.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Power of Attorney <\/span><\/h2>\n<p><span style=\"font-weight: 400\">Draft the power of attorney carefully since they offer a person the legal authority to make any decision on your behalf in case you are disabled or incapacitated. These legal powers will dictate decisions regarding your health and financial affairs. We have two main types of powers of attorney:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Financial: This one governs all the decisions related to your assets and financial affairs. <\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Health Care: This gives a guide on all decisions being made that are related to your health with regards to care and treatment. In case of incapacitation and there being no power of attorneys, a court will appoint a conservator or guardian. Most of the time, he or she will not embrace your values or personal priorities. \u00a0<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400\">Life Insurance <\/span><\/h2>\n<p><span style=\"font-weight: 400\">Having life insurance is useful since it achieves what the other planning tools cannot. It offers an immediate income source that is tax-free. It&#8217;s a good way of making sure your family still enjoys financial stability even when you are gone. They will not need to liquidate any assets. <\/span><\/p>\n<h2><span style=\"font-weight: 400\">A Living Will <\/span><\/h2>\n<p><span style=\"font-weight: 400\">Sometimes known as the advanced directive, it states the desired treatment of an individual in case he or she gets incapacitated. It will also give clear guidelines on how any last wishes should be fulfilled. The above tools will make sure that your assets and beneficiaries are well-guarded by law. Before using these tools, it&#8217;s best to do some research and legal consultation before you make a decision on how to use the above tools. Any mistake can prove to be deadly.<\/span><\/p>\n<p>Call our Estate team at <a href=\"tel:4804674325\">(480)467-4325<\/a> to discuss your case today.<\/p>\n<section id=\"7-contact-form\" class=\"home-section parallax \" style=\"background-image: url('https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/files\/2019\/04\/contact-us.jpg')\">\n<div class=\"parallax-content\">\n<div class=\"container\">\n<div class=\"row justify-content-center\">\n<div class=\"col-md-9 alignc\">\n<h3 class=\"title-bline\"><strong>Schedule Your Consultation<\/strong><\/h3>\n<div class=\"divider\"><\/div>\n<p>Fill out the form below to get your consultation and discuss your best legal options.<\/p>\n<div class=\"margin-t24\">\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f1109-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"1109\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/arizona-estate-planning\/wp-json\/wp\/v2\/posts\/944\/#wpcf7-f1109-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<div style=\"display: none;\">\n<input type=\"hidden\" name=\"_wpcf7\" value=\"1109\" \/>\n<input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.0.6\" \/>\n<input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/>\n<input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f1109-o1\" \/>\n<input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/>\n<input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/>\n<input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/div>\n<div class=\"row\">\n\t<div>\n\t\t<p><label class=\"one-half\">First Name<span class=\"wpcf7-form-control-wrap\" data-name=\"first-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required comm-field\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"First Name\" value=\"\" type=\"text\" name=\"first-name\" \/><\/span><\/label><label class=\"one-half\">Last Name<span class=\"wpcf7-form-control-wrap\" data-name=\"last-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required comm-field\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Last Name\" value=\"\" type=\"text\" name=\"last-name\" \/><\/span> <\/label>\n\t\t<\/p>\n\t<\/div>\n\t<div class=\"one-half\">\n\t\t<p><label>Phone Number<span class=\"wpcf7-form-control-wrap\" data-name=\"phone\"><input size=\"40\" maxlength=\"10\" minlength=\"10\" class=\"wpcf7-form-control wpcf7-tel wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-tel comm-field\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone Number\" value=\"\" type=\"tel\" name=\"phone\" \/><\/span><\/label>\n\t\t<\/p>\n\t<\/div>\n\t<div class=\"one-half\">\n\t\t<p><label>Email<span class=\"wpcf7-form-control-wrap\" data-name=\"email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email comm-field\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email\" value=\"\" type=\"email\" name=\"email\" \/><\/span><\/label>\n\t\t<\/p>\n\t<\/div>\n\t<div>\n\t\t<p><label>Message<span class=\"wpcf7-form-control-wrap\" data-name=\"message\"><textarea cols=\"40\" rows=\"5\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea wpcf7-validates-as-required\" id=\"msg-contact\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Message\" name=\"message\"><\/textarea><\/span><\/label>\n\t\t<\/p>\n\t<\/div>\n\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"consent-phone\"><span class=\"wpcf7-form-control wpcf7-checkbox wpcf7-validates-as-required\" id=\"consent-phone\"><span class=\"wpcf7-list-item first last\"><label><input type=\"checkbox\" name=\"consent-phone[]\" value=\"By providing your phone number, you consent to being contacted by us.\" \/><span class=\"wpcf7-list-item-label\">By providing your phone number, you consent to being contacted by us.<\/span><\/label><\/span><\/span><\/span>\n\t<\/p>\n\t<p class=\"contact-btn\" style=\"text-align: center\"><input class=\"wpcf7-form-control wpcf7-submit has-spinner white-btn\" id=\"submit-contact\" type=\"submit\" value=\"Submit\" \/>\n\t<\/p>\n<\/div><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Protecting one&#8217;s wealth is one of the most important priorities every person has in the modern world. Let&#8217;s say you come up with an effective estate plan. In order to protect it, you must implement efficient estate planning tools. These tools will offer you the necessary knowledge to protect your estate plans. Wills You [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-944","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Useful Estate Planning Tools - Arizona Estate Planning Attorney - JacksonWhite Law<\/title>\n<meta name=\"description\" content=\"JacksonWhite law presents the five most useful estate planning tools. 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