Estate Planning: Lessening the Impact on Family
An estate plan is a package consisting of wills, powers of attorney, health care proxies, and other documents relating to end-of-life decisions. Putting personal affairs in order is a common focus for people nearing retirement, but these same consideration are being made on a day to day basis by most of us.
Estate Attorneys Protect Loved Ones and Assets
Estate planning defines how the client is to be cared for in their last days and also how they want their assets and other possessions distributed once they die. Estate Planning: Lessening the Impact on Family explains how to prevent situations where the government making final decisions for you.
Estate planning laws & key considerations for your estate plan:
- Powers of attorney
- Health care proxies
- Life Insurance
- Other end-of-life decisions
Estate planning requirements vs net worth
For wealthy individuals, estate planning emphasizes strategies to minimize estate taxes. This process often involves the use of specialized trusts and large-amount life insurance policies. For modest estates, estate planning tends to center around wills, beneficiary designations, powers of attorney and health care proxies.
Thorough and customized estate planning
Standard estate planning documents do not cover all the information that survivors will need after the death of a loved one. Wills are usually quite general, covering disposition of major assets, but they typically do not mention lesser assets or family treasures and keepsakes. Estate Planning: Lessening the Impact on Family describes the types of detailed information required for the smooth administration of a persons final wishes such as executors, health proxies, power of attorney, investment management plan.
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New Arizona Law Series
Welcome to our new Arizona Law Series publications! Estate Planning: Lessening the Impact on Family is one of our newest guides written to help you understand Arizona estate planning and what is typically involved in these matters.
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