Estate Planning
by Sharon R. Sprague
Most people might think that a Will is not necessary because
they just don't own enough property. However, have you considered
the fact that if you don't have a Will, the state could be the one
who decides who get s your property or worse, who will take care of
your children should both you and your spouse die at the same time.
Lots of things happen in our life some of them we can control,
others we cannot. If any of the following things have happened to
you recently, maybe you should decide NOW is the time to have a
Will:
- You just had a new baby - Did you know that if you have
children, and you don't have a Will in place that names a guardian
for any minor children, the state could decide who would get to
take care of them should you and your spouse die at the same time?
Selecting an appropriate Guardian for your child in the event of
your death could be one of the most important decisions you ever
make.
- You just got divorced - Having a Will that spells out who gets
what could take a lot of stress off those left behind. In addition,
if you and your former spouses had a Will together then it is
certainly appropriate to have a new one prepared that takes the
divorce into consideration. Many people forget to address this
situation until it's too late.
- You just got remarried - In the event you do get re-married or
adopt a new spouse's child - you should consider preparing a Will
or again consider changing one that might be in place prior to your
remarriage or adoption. Reviewing the terms of an existing Will
with a professional can help eliminate any conflicts upon your
death and to insure that your property is distributed the way you
intended.
In the event you do not have a Will, then intestate succession
usually goes like this:
- Surviving Children; if none, then to
- Your parents, if none, then to
- Your brothers or sisters, or if they are not living, then to
your nieces or nephews…and so on.
- Eventually, it may end up being the state's
Remember, without a Will you have no say in how your property is
distributed upon your death.
These are just a few of the situations that could happen to give
you a reason to consider having a new Will prepared or to review a
Will that was previously prepared. It is never too late nor too
early to plan ahead. In addition, you may want to consider a
Medical Power of Attorney or other estate planning documents that
are hard to think about, but very important to consider. If you
have any questions, you can contact our firm and we would be happy
to arrange for you to meet with an attorney experienced in all
aspects of estate planning.
Attorneys:
Videos:
Articles:
Helpful Tools:
- The Secretary of State allows you to register, free of charge,
both living wills and medical power of attorneys at their web site.
http://www.azsos.gov/adv_dir/
- If you would like to prepare your own Living Will and Health
Care Power of Attorney, forms, along with an exhaustive list of
questions and answers regarding health care directives are
available at www.azsos.gov
- Estate Planning Questionnaire