Estate Planning Techniques Include
WILLS: A Will is used to transfer your assets at death to those named in the Will. A Personal Representative is appointed to administer your Estate. A Will is also used to designate a Guardian or Conservator for your minor children. A Will does not ensure the avoidance of Probate, and the administration of a Probate will be directed through the Arizona Probate Court System.
POWER OF ATTORNEY: A Power of Attorney authorizes someone else to act on your behalf in a legal or business matter. These Powers continue while the Principal is incapacitated, and ends with the Principal’s death. This is a necessary document as it will allow your designated Agent to manage your financial affairs during periods of time when you are incapacitated.
MEDICAL POWER OF ATTORNEY AND LIVING WILL: A Medical Power of Attorney and Living Will provides your Agent with the ability to make medical and end of life decisions on your behalf if you are unavailable to do so. Most of the time, when an individual is injured or suffers some sickness that requires hospitalization or medical care, a Medical Power of Attorney will be required by the medical provider. This is a necessity because the patient may be incapable of making decisions himself or herself and the agent then can step into the shoes of the patient and give authority to the medical provider to provide the medical treatment necessary. A Living Will is especially important in the event the Grantor becomes in a vegetated state or irreversible coma, and end of life decisions need to be made.
TRUSTS: Keller Law Group has extensive experience in the drafting and administration of Trusts. Trusts are private documents prepared by a Trustor and administered by a Trustee appointed in the document. Make sure the appropriate Trust is being used for your specific situations.