Planning your estate is an important part of aging. Many people think they don't need to plan if they are extremely wealthy. This is not true. You need to have an estate plan in place before your death if you have children, retirement accounts like a 401K, IRA, or life insurance. This is a mistake. You could lose important documents or increase the tax liability of your loved ones if you try to plan for what happens after you pass away.
What Documents Do You Need?
In Arizona, are you familiar with a power-of-attorney? What about a will? What is the difference between a living will and a will? An Incapacity/Guardianship or estate planning attorney will help you find the appropriate documents for your case and can direct you to them. If you have a clear idea of what you are looking for, these document services can be useful. However, most people get confused by all the options and end up needing to consult an attorney.
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Guardianship Lawyers can help both children and adults
In Arizona, guardianship lawyers are also available to help determine what happens to minor children and dependent adults. Today's people live longer and have children later in life. This means it is sometimes necessary to consider the needs of both minor children as well as elderly parents when working alongside a lawyer. A guardianship lawyer will be able to create the proper paperwork to protect your parents and children from guardianship lawyers who are working for other family members.
An attorney is not only smart but it can also be a gift for your loved ones. An estate planning or guardianship attorney is a smart decision because there are so many things to think about when you plan what will happen to your estate after your death.