Why Arizonans Need An Estate Plan In 2022
If the last couple of years has taught us anything, it is to expect the unexpected.
To that point, Arizona, 2022 is the year to get your estate in order.
Everyone has an estate. No matter how much money you make, whether you have children, own a home, etc. you have items, finances, and/or real estate you want to leave to specific people in your life. Estate planning can also establish power of attorney, last wishes, and child guardianship among other things.
When people die without creating an estate plan, further tragedies may unfold. Without an estate plan, you are asking your grieving family to guess what you would have wanted. It is unlikely everyone will agree on what that is. With emotions running high, even the slightest disagreement over what you would have wanted can create a family feud.
In Arizona, The Law Firm of Brown & Jensen has a reputation for successfully guiding people through the estate planning process. Our estate planning attorneys offer free consultations and create solid legal documents that get your wishes right. We want you to be prepared, so here are some more reasons why you shouldn't wait to make an estate plan.
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Sound Mind And Body
There are very few people who are comfortable with making plans for their own death. However, it is important to do this as soon as possible because you typically cannot create a will or power of attorney during a crisis. You have to be of sound mind and body when you create your plan. Your estate plans must be made before an accident, illness, or unexpected event leaves you incapacitated or dead.
End of Life Medical Care
This part of estate planning identifies your medical power of attorney and outlines the type of care you want to receive even if you are unable to voice it yourself. This document will answer questions like:
- What treatments would you want to have if you were very ill?
- What surgeries would you decline and under what circumstances?
- Do you want to be at home, in a hospital, or a care facility at the end of your life?
- Would you want to be resuscitated if you stop breathing?
Power of Attorney
Your designated power of attorney can act on your behalf if you become incapacitated. Your POA can make medical, financial, and property decisions with the same authority as you. In the absence of a POA, in most cases - but not all - your spouse will automatically have POA authority. However, the best person for the job is not necessarily the one closest to you. Choose wisely.
Legacy And Final Wishes
Through estate planning, you can cement your legacy. One way is by creating a trust that distributes items or funds over time, usually to loved ones and charitable causes. You can get started on distribution long before your death, if you choose, through a living will.
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Nothing in life is certain but death and taxes, so it is important to be prepared for life and death situations.