Many people mistakenly believe that you need to be of a certain age or financial status to engage in estate planning in Arizona. This could not, however, be further from the truth and is actually one of the most prudent and responsible things you can do. When it comes down to it, estate planning should be done even if you have few assets, so that your family and friends won’t be confused about what your wishes are for your assets and other belongings should you pass away. This is particularly poignant if you pass away suddenly and unexpectedly.

Check Your Estate Plan

Once you’ve established an estate plan, then it is equally important to do annual check-ups of your plan. For instance, you might read over the will portion of your estate plan to ensure that everything and everyone you’ve included is still up to date and relevant. Make sure your estate planning in Arizona covers all elements of your estate in your will and that there is no new information that needs to be included in this document. For instance, assess whether or not the value of your assets may have changed over the years, or if there is a new charity you want to consider when doing your estate planning and your will in particular. Make sure you are happy with the way that any or all of your assets will be distributed once you pass away and make sure to pay attention to this element every few years to ensure that nothing needs to be added, changed or taken off.

Another part of estate planning in Arizona is the inclusion of your Arizona living will. This is specific to health care decisions and appoints a health care advocate to make decisions on your behalf in the event that you are no longer able to do so at some point. Talk about your wishes at length with this person to ensure that they are on board with what you would want done and know your wishes, so they don’t have to guess. Document everything and revisit this document often to ensure that nothing has changed.

Finally, as part of your estate planning in Arizona, determine if you need a power of attorney and make sure that if you do need one, you get a durable document that will stand the test of time, as you may opt to do this type of planning well in advance.

Need Help?

If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.

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