Reasons why Arizonans should make estate planning a priority this year

Do not put off setting up an estate plan no matter your age or level of financial assets.

2014-04-12

April 12, 2014 (Press-News.org) Reasons why Arizonans should make estate planning a priority this year

Article provided by Clark Law Offices
Visit us at http://www.clarklawaz.com

Many people think that they only need a lawyer when they are dealing with a problem. Most know to consult an attorney when they are facing a divorce or a bankruptcy, have been in an automobile accident or need to incorporate a business. However, one of the most important legal issues facing people in Arizona is often put off until a later date.

Unfortunately, that later date comes along much faster than most people expect. A sudden illness or serious accident can leave families in a bad situation if a loved one has not put his or her affairs in order ahead of time.

Estate planning -- the process of putting together a will, trust, healthcare directive and powers of attorney -- is not just for the rich and famous, elderly or parents with young children. People from all walks of life can provide a great benefit to their families and loved ones by establishing estate plans. Following are some commonsense reasons:
-Avoid confusion and pain: After a death, family and friends will be mourning the loss of their loved one. By setting out your wishes for the distribution of your assets -- even small personal items -- you can help make a very trying time less difficult for them.

-Appoint guardians: Should you and the other parent of your children both pass away, who will take custody of the kids and who will make financial decisions on their behalf? Failure to create an estate plan and appoint guardians may mean they end up living with the last person or people you wanted to raise them.

-Decide who makes your decisions: If you are seriously injured and unable to make your own medical or financial decisions, your estate plan documents can layout your desires and appoint someone to carry them out for you.

-Do not delay: Because disaster may strike at any age, committing your wishes to writing will help ensure that your minor children -- or an adult relative with special needs -- are provided for.

Consult a lawyer

If you do not have an estate plan or have not recently reviewed and updated your estate planning documents, consult an experienced estate planning attorney. A lawyer knowledgeable about the intricacies of remarriage, blended families, guardianships for loved ones with special needs and the probate process can help you set up a plan that not only ensures that your wishes will be followed but also that your family will have less to deal with at a time of loss.

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