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:

  1. 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.
  2. 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.
  3. 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.

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