The need for a Prescott, AZ lawyer doesn't necessarily imply a legal battle is at hand. Finding the best law group to handle your trust, will, estate, and probate takes trust in an attorney's abilities. You are planning for your loved ones to take over your estate and assets. Each detail matters.
At Holland Law Group, we understand that getting your assets in order and ensuring your wishes are legally binding creates peace of mind. There should be no question as to what happens with everything you leave behind. Deciding on the best Prescott attorney to finalize your asset distribution may be an area where you need assistance.
Do I Need a Will or Trust?
The Holland Law Group offers legal services in Prescott including several estate planning options. Regardless of whether you have a modest nest egg or vast wealth, there is an estate planning technique that can be customized to meet your needs.
Trust: A trust is a common estate planning tool used to protect one's assets, minimize death and estate taxes, and avoid unnecessary court proceedings, including probate. A trust can be as unique as you are in reflecting and accomplishing your desires. However. A trust only governs property that has been transferred into the trust. As such, it is imperative that you seek a competent trust attorney in creating and properly funding your trust. A trust does not have to go through a court process and will go into effect the moment it is signed.
Will: Like a trust, a will allows you to designate beneficiaries who will inherit your property, however a will does not avoid a potentially lengthy probate process involving the court and associated fees. Since sometimes a will is all you need, our experienced attorneys will not try to sell you an expensive and complicated estate plan if your desires can be accomplished with simpler and less costly means.
Regardless of whether your estate requires a will or a trust, it is important to have a qualified expert evaluate your needs and craft a customized estate plan.
Prescott Estate Planning and Probate
Formulating an estate plan is a unique process for each client. While there are some similarities in the processes, the details are customized to your needs.
Estate Planning: The series of steps you take to ensure each part of your estate, no matter how large or small, is ultimately given to the right individual. Estate planning also includes your business ventures. Business entity formation, purchase agreements, closely held entities, and deferred compensation programs can all impact your estate plan.
Probate: In short, probate is the process by which a deceased person's assets are gathered and distributed and debts are satisfied. While we would all hope that families could come together in the passing of a loved one, that isn't always the case. If an heir believes he is entitled to more than specified or the executor or personal representative distributes assets improperly, a battle over property can ensue.
Finding a lawyer you trust is especially important when creating a trust or will or moving forward with estate planning or entering the probate process.
Prescott, AZ Legal Services
Holland Law Group prides itself on walking you through each process and answering any questions you have regarding your Prescott estate, or being the beneficiary of a loved one's assets. If you have questions about your asset planning, developing a will, trust or both, or what to expect during probate, contact our experts to schedule a consultation.