How Estate Planning Lawyers Can Secure Your Future

Estate planning is critical to secure your financial future and legacy, but a recent survey shows that only one-third of Americans have an estate plan. Many people acknowledge that they need to plan their estates but haven’t prioritized it. However, without a clear will and other estate planning documents in place, you leave decisions about your medical care and assets up to state law, which may not align with your final wishes.

At Brown & Hobkirk, PLLC our attorneys can review your current circumstances and craft a comprehensive estate plan that accounts for your financial and medical needs, safeguards your assets, and preserves your wealth for future generations. Call us today or contact us online for a free consultation with an experienced Arizona estate planning attorney.

Understanding Estate Planning

You may find it troubling to contemplate end-of-life matters or imagine what will happen if you become incapacitated. However, aging is an inevitable part of life, and none of us know what the future holds. A solid estate plan can give you peace of mind by making important financial and medical decisions that can prepare you for the future and provide for your heirs as you choose.

Essential elements of estate planning include:

Wills
Trusts
Living trusts
Powers of attorney
Long-term care planning
Medicaid/Medicare planning
Retirement planning
Tax planning
Guardianships/conservatorships
Special needs planning
Business succession plans
Elder law

By making these decisions early, you can set concerns about your assets and loved ones aside and focus on making the most of each day.

Why You Need Our Estate Planning Attorneys

Questions regarding your estate after your death are inherently high-stakes considerations for your family. A trusted legal professional can help you avoid pitfalls that could lead to a protracted probate process, unwanted tax implications, and contention among family members. This is why choosing the right estate planning attorney is critical.

The experienced estate planning lawyers at Brown & Hobkirk, PLLC have served clients in Arizona for over 20 years. We are committed to providing the compassionate and individualized service you deserve. You can count on us to explain your options clearly, answer any questions you may have about the estate planning process, and create legal instruments that account for all possible future scenarios and reduce the likelihood of unexpected legal problems later.

What Does an Estate Planning Attorney Do?

An estate attorney uses an array of strategies to manage your financial and legal affairs if you become incapacitated or die. These strategies could include:

Creating Wills and Trusts

Your last will and testament allows you to outline how you would like your assets distributed to your heirs upon your death. In a will, you appoint an executor (called a personal representative in Arizona) to oversee your affairs. An estate planning attorney can also create trusts to manage your assets during your lifetime and after you pass away.

Reducing Your Estate Tax Burden

One of the primary advantages of working with an estate planning lawyer is to minimize the tax burden of your estate. A skilled attorney can employ strategies to reduce the taxes your beneficiaries have to pay on your assets.

Simplifying Probate

Probate is the legal process of dealing with a decedent’s property, money, and debts. A skilled estate attorney can carefully structure your estate to avoid surprises or bypass probate altogether. This can help your beneficiaries access your assets more efficiently.

Establishing Power of Attorney

Power of attorney designations can give a trusted individual the legal right to make financial or medical decisions in the event of your incapacitation.

Advance Directives

An estate planning attorney can help you set up a living will or a healthcare power of attorney to ensure that your medical wishes are honored if you cannot make decisions yourself.

Benefits of Working with an Estate Planning Lawyer

Various estate planning documents are available online. However, working with a knowledgeable estate planning lawyer offers numerous advantages beyond these “one size fits all” templates.

A knowledgeable attorney can take a holistic view of your financial situation and identify potential challenges early, so they don’t become problems later. For example, you must meet certain asset thresholds to qualify for Medicaid. With the right estate planning strategy, your attorney may use tools like trusts to meet those limits without compromising your access to public benefits or triggering a penalty period. A lawyer can also ensure all documents comply with federal and Arizona law and reflect your current wishes.

Common Misconceptions About Estate Planning

Many myths about estate planning prevent people from taking necessary action to protect their interests. For example, they might think:

Estate planning is only for the rich. Everyone can benefit from a basic estate plan, regardless of their asset level.
A will is all you need. While wills are essential, comprehensive estate planning often involves additional tools such as trusts, advance directives, Medicaid planning, and tax plans to make your wishes clear and minimize financial burdens.
Estate planning is a one-time event. Life changes, such as marriages, divorces, births, property acquisitions, and even innovations in medical science, may warrant revisiting your estate plan every few years.
Young people don’t need estate planning. You never know what tomorrow brings. Adults of all ages benefit from having healthcare directives and powers of attorney in place.

Future Planning Strategies with Estate Lawyers

A forward-thinking approach to estate planning helps ensure your wishes are carried out effectively. Our attorneys can help you develop strategies that address both immediate and long-term concerns, including:

Creating flexible trust structures that adapt to changing family circumstances
Establishing guardianship arrangements for minor children or dependent adults
Developing business succession plans that protect your company’s future
Setting up charitable giving programs that create lasting legacies
Building asset protection strategies that preserve your wealth

Contact Brown & Hobkirk, PLLC for Your Arizona Estate Planning Needs

Taking control of your estate planning needs doesn’t have to be an overwhelming process. At Brown & Hobkirk, PLLC we can guide you through each step of creating a comprehensive estate plan that protects your interests and provides peace of mind for your family’s future. Contact our law firm today for a free consultation with a member of our legal team.