Many people think estate planning is something only rich people do. While that is partially true, the simple fact is anyone with assets or property they wish to pass on to others after they die will need proper estate planning. In fact, estate planning can even go further than simply what happens to a person’s assets after they die. Whatever the situation may be, it’s imperative that people looking to make these sorts of plans consult an estate planning lawyer in Mesa, AZ.
While a number of people get caught up in the details of what happens after they die, there are other things just as important to a proper estate plan. One thing an estate planning lawyer in Mesa, AZ will impress on their clients is to make plans for a time when a person’s physical or mental capacity may make it difficult, if not impossible, for them to handle their daily affairs. This is often called power of attorney, and it designates either a spouse, a sibling, another family member, or a friend as the person who can carry out the affairs for the incapacitated individual. This means paying bills, making medical decisions, and handling other life issues.
Another important aspect of estate planning is preparing for the probate process. Unless a person has a great deal of money, or perhaps no money at all, avoiding probate is going to be nearly impossible. This is a legal process that happens after a person dies, and it can be rather expensive and lengthy. It will also fall on the executor of the estate to handle the probate process which, unless the executor is a lawyer, can be rather complicated. However, by naming legal counsel to help the executor through the process, and by compartmentalizing certain liquid assets, a person can make the probate process less complicated and more streamlined.
The simple fact is there are more aspects of proper estate planning than can be mentioned in this article. That’s why a person may want to consult an estate planning attorney at the law firm of Janet R. Feeley, L.L.C. A person can contact this office directly or visit the website to schedule a consultation appointment.