Posted by Dana Law Group on January 20, 2021
According to a survey published by United Van Lines, Arizona is turning into one of the most desired moving destinations in the country. In the year 2019, Arizona saw 63% of their movements coming INTO the state rather than out of the state. That’s a lot of people coming to a new state with new laws surrounding their Estate Plan.
In order to make sure that your estate plan is up to par with Arizona legislation, it might help to take an inward look at how the process may play out.
Estate planning legislation will vary state by state. Generally speaking, most estate plans will contain a will, power of attorney, as well as a living will. This is the coverage that basic estate planning will cover, though this is far from a comprehensive list. For individuals with more advanced needs, there may be work ahead with an estate planning attorney in Arizona.
Most of the time, estate planning laws won’t vary significantly enough to render your estate plan completely moot. However, that still leaves room for modifications to your trusts, powers of attorney, healthcare power of attorney, and other key documentation. For individuals that want to start from scratch in order to abide by Arizona legislation, consider the following checklist as a starting guide.
The estate owner will have to assess whether or not their health care preferences abide by Arizona legislation. This process is best undertaken with cooperation from a health care agent or estate planning attorney. These individuals will fulfill the act of relaying medical preferences to the health car professionals selected by the estate owner. This entails such duties as accepting breathing machines and medications for the prolonging of life.
Before dividing property among beneficiaries, it can be beneficial to work with an attorney to create an inventory of the principal assets owned by the estate. An assets list can be curated to list, describe, and assign ownership to each item including bank accounts, businesses, and automobiles.
One of the most important steps during the preparation of an estate plan is to ensure proper financial management in the event that the estate owner is no longer able to make such decisions. This requires the designation of a financial agent who will have permission to act on the behalf of the estate owner in question. Work with an estate planning attorney in Arizona to ensure that proper documentation is acquired, verified, and properly filed.
Moving to Arizona is as exciting as it is daunting. Whether you are landing in Phoenix, Scottsdale, or Tucson, make sure that you have access to a professional attorney to help along the way. Dana Law Group offers elite estate planning, probate law, and trust administration to individuals and families throughout the state of America.
Contact Dana Law Group for your free initial consultation in one of their seven premier locations.