Estate Planning In Peoria, Arizona
In Peoria, Arizona, "estate planning" refers to the process by which a person makes arrangements related to their property after their death. It can (and should) also include personal issues that might come up immediately before and after a person's death.
The drafting of a will, which simply states what you wish to be done with your property after death, is normally one of the most essential parts of an estate plan. Of course, it's rarely the only one. There are many other things you might want to include, depending on your objectives.
For instance, a seasoned estate plan will include a living will, which gives your family members and healthcare professionals instructions about your medical care, to be followed in the event you become incapacitated. You should also include your funeral arrangements, and your preference with respect to organ donation.
For anyone who has children who are still minors, it is very essential to make arrangements for their custody and care, just in case the unthinkable occurs. You should think of a family member or extremely close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's essential to discuss this matter with that person before you really do it.
What Type of Estate Plan Do I Need in Peoria, Arizona?
The answer to this question varies largely on your goals and priorities, as well as your age, health, and the amount of assets you have.
If you are in good health, young, and not married, planning an estate is likely not a high priority. And at this time in your life, it doesn't really have to be, with a few possible exceptions, such as individuals who work in very hazardous jobs, or who are very wealthy.
There is one group of unmarried people for whom estate planning in Peoria, Arizona is absolutely essential: adults who are not married, but have a life partner who they'd like to provide for in the event of death. There are many rights that automatically attach with marriage, such as the right to inherit if a spouse dies without a will, the right to make medical decisions for the other spouse if they become incapacitated, etc. If you and your partner are, for whatever reason, unable or unwilling to get married, you will have to take many steps to secure these rights, such as authorizing power of attorney, and writing them into your will.
There is another massive group of people who would benefit from having a good Peoria, Arizona estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily contains facing some uncomfortable realities, it is essential and unavoidable.
Find a Peoria Lawyer that Specializes in Your Area of Need:
Do I Need a Peoria, Arizona Estate Planning Attorney?
Because estate planning can be a difficult process, the expertise of a good lawyer in Peoria, Arizona who specializes in wills, trusts, and estates can make the process a great deal easier.
Estate Planning Attorneys in the Largest AZ Cities
Life in PeoriaPeoria, Arizona is situated in both Maricopa and Yavapai counties. It is a major suburb of Phoenix and is home to a population of about 160,000 people. Peoria has grown economically and industrially in recent decades.
The city of Peoria, Arizona is known for developing and incorporating innovative technologies related to water irrigation and solar power harnessing. For example, the Maricopa Solar Power Plant is located in Peoria and was completed in 2010.
One of the main attractions in Peoria is the Peoria Sports Complex. The stadium brings in many tourists, festivals, tours, concerts, and social events. Several Major League Baseball teams use the stadium for spring training and year-round training. The Peoria Sports Complex has contributed to much of the city's growth and economic development.
Peoria's population continues to grow as more and more people relocate there for both work and leisure. In fact, the name "Peoria" has almost become synonymous with leisure living and resort vacations in the state of Arizona.
Lawyers in Peoria, Arizona engage in a number of legal services which assist the city's bustling social and economic scene. Peoria attorneys enhance their skills through memberships in groups such as the West Maricopa County Bar Association.