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Who Needs An Estate Plan?

Estate planning is a complex and important process, and it is not for everyone. If you are not married or do not have children, you may not need an estate plan.

An estate plan is a legal document that lays out your wishes for your funeral and burial arrangements, as well as any property you may leave behind. Arizona property planning can help you avoid conflict over your possessions after you die, as well as ensure that your loved ones are properly taken care of.

If you are married or have children, an estate plan can help avoid arguments about who should inherit your property and money. It can also help make sure that your assets will be passed on to the people you want them to be passed on to, avoiding taxes and other financial problems down the road.

If you are unsure if an estate plan is right for you, please contact a Mesa estate planning attorney for a consultation. An attorney can review your legal documents and provide guidance on the best options for you.

Things to Consider When One Needs an Estate Plan

There are a few things to consider when one needs an estate plan. The first is what type of estate plan they need. There are three types of estate plans: Testamentary, intestate, and mixed. 

Testamentary plans are the most common and are for people who have not specified a will. Intestate plans are for people who have not made a will, and the laws of their state dictate how their property will be distributed. 

Mixed plans are for people who have a will, but want to add additional provisions, such as a trust, to protect their assets.

The next thing to consider is whether or not you need an attorney to create your estate plan. An attorney can help you review your options, draft the plan, and provide legal advice about how to implement it. 

The final thing to consider is how long you want your estate plan to last. Most plans last anywhere from five to ten years, but it is important to regularly review and update them.

 

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