Whether you live in Arizona or are just visiting, it’s important to be aware of the laws concerning living wills and other estate planning documents. Our comprehensive guide explains everything you need to know. Read on to learn about creating a living will in Arizona and making your final arrangements.
What Are the Essential Estate Plan Documents?
In Arizona, a living will and other estate plan documents must explain how you wish to be cared for in case something happens to you. These documents make life easier for you and your family. They address what happens in the event of your disability, terminal illness, coma, or other serious medical circumstance. Additionally, they allow you to designate someone to act on your behalf in making medical decisions if you are unable to do so. These documents are essential for ensuring that your wishes and those of your loved ones are followed should the unexpected happen.
What is a Last Will and Testament?
A last will and testament is a written legal document that outlines your wishes regarding how you want your estate to be distributed after you die. It allows you to designate an executor who will handle the financial aspects of settling your estate. The executor will dispose of your belongings according to your wishes. The document is legally binding, so it’s important that all components are written in clear language so there is no question as to your intent. It also has specific requirements in order to be valid.
It’s important to have an attorney write your Last Will and Testament. That can help you avoid mistakes that could cost your loved ones time and money later.
What is a Living Will Arizona?
A living will is a type of advance directive that allows you to specify your wishes regarding medical care at the end of life. It specifically addresses your desire for palliative care, or comfort care, when you are no longer able to express your wishes verbally. This includes decisions involving CPR, intubation and other medical interventions. It also addresses preferences on nutrition and hydration, pain management and organ donation. Although living wills provide a great deal of guidance to healthcare professionals, it does not supersede the powers granted by a health care power of attorney.
What is a Living Trust?
A living trust is a type of trust that you create during your lifetime. It can provide for management and distribution of assets upon your death. Also, it helps your loved ones avoid the time and expense of probate proceedings. The trustee holds assets in the trust according to the terms of the trust document. This can include anything from bank accounts, investments, real estate, or other personal property. You can set up the terms and provisions of a living trust to protect your final wishes regarding your finances and estate.
To learn more about living trusts, read out Complete Guide to Understanding Living Trusts.
What is a Power of Attorney?
A Power of Attorney is a legal document that authorizes another person to act on your behalf in managing your finances, assets and health care decisions. In Arizona, a power of attorney needs either a witness or notary’s signature. However, our firm prefers to have two witnesses and a notary. We do that in case you are ever traveling to another state where the requirements might be different.
The Power of Attorney grants the designated person the authority to make decisions for you if you are unable to do so yourself. These decisions range from medical care, banking activities, investment decisions, real estate transactions and other financial matters.
Ready To Create Your Living Will Arizona and Other Critical Documents?
We are dedicated to helping people just like you get your affairs in order. Getting a comprehensive estate plan (including your living will Arizona) will protect yourself and your loved ones. This includes creating a living will. But there are other documents you need. We can explain all of that to you. Just give us a call at 602-443-4888. We’re look forward to meeting you.