Arizona estate owners review potential plans for their future. This process allows them to assess the most appropriate opportunities to protect their property and assets. The most viable strategy is to take the steps needed to decrease the size of the estate. A Wills And Estate Planning Attorney in Chandler AZ assists these estate owners with these opportunities.
Creating a Revocable Trust
A revocable trust allows the estate owner to transfer ownership of key properties and assets to the trust. The estate owner maintains the right to use these properties and assets as they choose. If they wish to make changes to the trust at any time they can. For the trust, they choose a successor to take over when the estate owner dies. If the successor dies before them, the estate owner may choose a new individual to take their place. As long as the estate owner is of sound mind, they could make changes as they choose.
Setting Up a Trust Fund
Trust funds are used to provide financial support for the estate owner’s family. They may also set up a trust fund to prepare their child for college. These trust funds allow the estate owner to set up provisions to control how the money is used. For example, if the trust fund is intended to support minor children, they could restrict who has access to the account and require prove of how the funds were used to support the child.
Producing a Health Care Plan and Directive
A future health care plan allows the estate owner to choose what doctor provides their care. They also identify what family member may make decisions their care when they cannot. They may include a directive that determines if the estate owner wants life-saving measures conducted such as life support.
Arizona estate owners have the opportunity to create a plan to protect their property and assets. These plans reduce the impact of the probate process. This allows the estate owner’s family to keep more of the assets where they belong. Estate owners who need to hire a Wills And Estate Planning Attorney in Chandler AZ should contact The law firm of Janet R. Feeley L.L.C. or Visit Website for more information.
