Arizona Estate Planning Lawyer & Attorney : Stephen Follett Law Firm : Probate Law and Trusts : Gilbert, Phoenix, Arizona

Yuma, Arizona attorney Larry Deason identifies seven important elements of an Estate Plan in this article.   The article is brief and easily understandable.

The seven points he makes are:

1. Health care power of attorney with a living will so your appointed agents can care for you to avoid costly guardianship.
2. HIPPA authority so that your loved ones can have access to your confidential medical information.
3. Durable financial power of attorney so your appointed agents can care for your money and assets to avoid costly conservatorship.
4. Revocable living trust to avoid costly living probate (conservatorship) and death probate.
5. Pour over will so anything not in the living trust is added upon death.
6. Funeral trust to protect money from creditors and Medicaid to ensure your family does not bear the burden of your funeral.
7. Completed legacy estate plan distributing the personal items (like grandmother's ring or grandfather's watch) that most frequently cause family fights.

I agree with each of these points.  However, a revocable living trust is not necessary for many situations.  In a modest estate, a will and proper advance planning is sufficient.

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In Delaware, a young pregnant woman overdosed on Heroin and suffered severe brain damage.  She was kept alive to bring the baby to term.  The baby was safely delivered in 2007. 

Since then, she has continued to live off a feeding tube.  Like Terry Shaivo, her doctors say that she is in a permanent vegetative state, and that her brain is permanently damaged.  She will never recover conciousness.

Her mother sought permission from the court to remove the feeding tube.  She and an uncle testified that the young woman told them, during the Terry Shiavo episode, that she would never want be kept alive.  The court granted permission.

However, her father (her parents divorced when they were young) believes that she should be kept alive.  He appealled the courts decision even though the court found the evidence was clear and convincing that the young woman would want to die.

I have my personal beliefs, but would never want to impose them on another.  Similarly, I would never want anyone to impose their beliefs on me.  The only way to ensure that neither happens is for everyone to express their wishes in a living will.

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I mentioned my desire to offer free education to the public in a previous post.  I am pleased to have an upcoming seminar offered free to the public.  I hope to see you there.

The first session of my new seminar:  "19 Smart Ways to Plan Your Estate" will be held Tuesday March 18, 2008 from 1:30 to 3:30 at the community room at Northern Trust Bank in Sun Lakes, Arizona.  A flyer with a detailed description of the program can be downloaded here.  It requires Adobe Acrobat Reader which is free.

The seminar was designed with special emphasis on 12 Planning Mistakes That Could Cost Your Family a Fortune -- and Their Solutions”   Come learn about the good and bad about wills and living trusts, especially 20 misconceptions about wills and trusts.  Read the flyer above for even more exciting topics.

This will be a unique - fact filled seminar that you will not want to miss.  It will be filled with examples that will engage your mind as I lead you through the legal process of creating an estate plan.  Mark your calendar now!  Invite a friend.  If you cannot make it, please feel free to call me for more information.

Topics include, living trusts, wills, powers of attorney, health care powers of attorney, living wills, ethical wills, beneficiary deeds, payable on death accounts, IRAs, retirement plans, and more.

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Legal Forms fit in well with our "Do It Yourself" (DIY) nation.  We watch home improvement shows, cooking shows, and decorating shows.  Home Depot earns fortunes as we tackle home improvement projects. 

This DIY spirit carries over to our own legal issues.  However, there is great danger in using the "do it yourself" legal forms for divorce, estate planning, business formation, etc.  Some of the most frequent stories I hear when speaking about issues, are the consequences of these DIY forms.

Yesterday, I attended a continuing legal education class about rules regarding pension and retirement benefits like pensions, 401(k)s, and IRAs.  He is like a brain surgeon in the legal world, the expert to which other attorneys and judges go for help.  His fee is $300.00 per hour.

He used a great line when he called DIY legal forms  "The Do It To Yourself Forms" because when you foul it up using the forms, you can only say that you did it to yourself.  Unfortunately, there is no easy estate plan when retirement benefits, 401K, or IRAs are involved.  The tax rules are too complex.  Because of your DIY planning, your family could face a tax rate between 35% to 80% of the money that you leave them in your retirement savings.    

Eventually, the DIY catches up with us when we get in over our head.  I once started fixing my computer but could not finish it without the help of an expert.  It cost me more after I Did It To Myself than to pay a professional in the first place.  Imagine the cost of $300.00 per hour to fix a legal mess, in addition to the irreparable tax consequences.

Do you really want your family to say:  Mom and Dad were "do it yourselfers" and they did this to themselves.  Please get competent legal counsel for your estate planning.  Otherwise, you are taking a chance that you will do it to yourself and your family.

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I wrote previously about my experience with Annuity Scams and Living Trust Scams.  Every time I think about that experience I get a pit in my stomach.  So called "advisors" took advantage of their client's trust and wrecked the lives of ordinary families.  Many were in their golden years with less than $50,000.00 in their nest egg.

To work against the trust mills and unscrupulous "advisors", I want to educate the public about living trusts so they can avoid the financial scams.  I am proud to be an estate planning attorney and lawyer and I want to share my knowledge with others.  There should be no "secrets" in estate planning that only the wealthy know.

I am so excited about a partnership I am developing in the Sun Lakes and Chandler area where there is a greater need for education.  This partnership will be of tremendous benefit to those who live in and around Sun Lakes and Chandler who want to learn more about Living Trusts or other estate planning tools. 

This is the purpose of my effort: 

Anyone, regardless of income and status in Sun Lakes or Chandler can learn what they need to know about wills, financial power or attorney, healthcare power of attorney, living will.  And, they can clear away the misinformation about living trusts so they learn who could benefit from a living trust, because not everyone should have a living trust. 

If you support that mission or would like to participate, then check back for more information or call me with questions.  If you or your organization would like to sponsor a class on living trusts or another aspect of estate planning, I will do what I can to make myself available.

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I am excited about my brand new office in south Gilbert. Arizona.  It is located at the Offices at Seville in the Northeast corner of Chandler Heights Road and Higley.  It is conveniently located to serve Gilbert, Queen Creek, Johnson Ranch, and Anthem in Pinal County. 

For the convenience of my clients, I retained my location in Chandler Arizona by appointment only.  It is is located off Loop 202 at Cooper and Ray in the fabulous new Cooper Crossing offices.  This Chandler office is conveniently located to serve Chandler, Gilbert, Ahwatukee, Mesa, Tempe and Sun Lakes in Maricopa County. 

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