How much do you know about estate planning? In particular, what do you know about the importance of wills?
Here are 7 things to know about wills:
1. A will is a written document that outlines what happens to a person’s property after their death.
2. To have a will, a person does not have to possess a large estate.
3. A will can designate a person as a guardian and/or conservator for the deceased’s minor child or an incapacitated adult.
4. A will does not affect all assets if a different method of transfer is set up, such as community property with right of survivorship.
5. A will can be amended or revoked at any time before death.
6. If a person dies without a will, his or her estate will be distributed according to Arizona law.
7. An experienced legal professional should draft your will.
Learn more about wills
Don’t wait until it is too late to prepare your own will. A will not only ensures that your assets are divided according to your wishes, but it also makes the estate distribution process much easier for your heirs during the probate process.
To learn more about drafting your will as part of a comprehensive estate plan, speak with one of our attorneys today about all of your estate planning needs. Contact us today.