Our Services

We specialize in the preparation of legal documents, including; Estate planning documents such as Revocable Living Trusts, Last Wills and Testaments, Living Wills, Health Care and Financial Powers of Attorney, Property Deeds, Beneficiary Deeds, Limited Liability Companies, Contracts and more. 

Lori has been preparing legal documents in Arizona since 1987 and has an extensive background preparing these documents.  We are affordable, professional and reliable.  You get the professional treatment you deserve and the tailored documents you need at a reasonable price.  

When you have possessions it's referred to as an estate.  When an estate plan is in place it doesn't leave the estate to chance. An estate plan makes sure that your wishes are followed after you're gone. Probate is a legal process that takes place after death.  It can expensive, time consuming and use up beneficiaries inheritance.  When an Estate plan is in place it helps to avoid a costly probate and allows assets to transfer to beneficiaries without a long and expensive court proceeding. Estate planning is often referred to as the most important gift you can give to your loved ones.

The most commonly used Estate Planning Documents:

Last Will and Testament

Living Trust

Durable Power of Attorney

Durable Health Care Powers of Attorney

Living Will

Beneficiary Deed

1.  I HAVE A WILL or I DON’T HAVE A WILL, WHY GET A LIVING TRUST.
Contrary to what you may have heard, a Will may not work the best.  That's primarily because a Will may not avoid a probate when you die.  A Will must be validated by the probate court before it can be enforced.

Also it only goes into effect after you die and provides no protection if you become physically or mentally incapacitated.  A court could take control of your assets before you die and that is a concern of millions of Americans and their families.

Fortunately, there is a simple and proven alternative to a Will -- the Revocable Living Trust.  It can avoid probate and you keep control of your assets while you are living, even if you become incapacitated, and after you die your assets are distributed as you want and by your directions.  If you die without a Will (“intestate”), it is up to the probate court to make your estate distribution decisions.

2.  WHAT IS PROBATE?
Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed according to your Will.  If you don't have a valid Will, your assets are distributed according to state law.  The current probate limit in the State of Arizona is $75,000 if no real property is owned and $100,000 if real property (house, land, etc.) is owned.

3.  PROBATE AND THE PROBATE PROCESS.

Probate can be expensive.  Legal fees, personal representative fees and other costs must be paid before assets can be fully distributed to beneficiaries.  If property is owned in other states, it can create multiple probates, each one according to the laws in that state.  These costs can vary widely.
It takes time.  Probate can take months to years.  During part of this time, assets are usually frozen so an accurate inventory can be taken.  Nothing can be distributed or sold without court and/or Personal Representative (Executor) approval.  If your family needs money to live on, they may need to request a living allowance, which may be denied.
Your family has no privacy.  Probate is a public process so any "interested party" can see what you owned, whom you owed, who will receive your assets and when they will receive them.  This process may invite disgruntled heirs to contest the Will and may expose family members to unscrupulous solicitors.
Your family has no control.  The probate process determines how much it will cost, how long it will take, and what information is made public.

4.  JOINT OWNERSHIP.

Joint ownership may just postpone probate.  With most jointly owned assets, when one owner dies, full ownership does transfer to the surviving owner without probate.  But if that owner dies without adding a new joint owner, or if both owners die at the same time, the asset may need to be probated before it can go to the heirs.  If  a co-owner is added, you may lose control.  Chances of being named in a lawsuit and of losing the asset to a creditor are increased.  There could be gift and/or income tax problems.  And since a Will does not control most jointly owned assets, you could disinherit heirs unintentionally.  With some assets, especially real estate, all owners must sign to sell or refinance.  If a co-owner becomes incapacitated, a new co-owner, the court could get involved, even if the incapacitated owner is the spouse.

5.  THE COURTS INVOLVEMENT IF INCAPACITATED WITHOUT THE PROPER DOCUMENTS.
When business can not be conducted due to mental or physical incapacity (dementia, stroke, heart attack, accident, etc.), only a court appointee can sign for you, even if you have a Will.  (A Will only goes into effect after you die -- not while you are incapacitated.)  Once the court gets involved, it usually stays involved until you recover or die, and the court, not your family, will control how your assets are used to care for you.  This public, probate court process can be expensive, embarrassing, time consuming and difficult to end.  It does not replace probate at death, so your family may have to go through the probate court twice!

6.  DURABLE POWER OF ATTORNEY. 

A durable power of attorney allows a designated person or persons to make financial and/or legal decisions for you if you are unable to do so while you are alive.

7.  WHAT IS A LIVING TRUST?

A Revocable Living Trust is a legal document that contains your instructions for what you want to happen to your assets when you die.  But, unlike a Will, a Living Trust holds the assets after death and can avoid probate, control assets, and prevent the court from controlling your assets if you become incapacitated.  It also may have tax benefits to heirs that may not be otherwise available upon your passing.

8.  A LIVING TRUST CAN AVOID PROBATE AND PREVENT COURT CONTROL OF ASSETS AT INCAPACITY.

When a Living Trust is set up and assets are transfer from your personal name to the name of the Living Trust, which you control as Trustee, such as from "Joe and Jane Thomas, husband and wife" to "Joe and Jane Thomas, trustees of the Joe and Jane Thomas Living Trust, dated (month/day/year)," everything belongs to the Trust which you control until your death(s).  So there is nothing for the courts to control when you die or become incapacitated, the Trust lives on to distribute your assets as you have stipulated.  The concept is simple, no court involvement.

9.  CONTROL OF ASSETS IN THE TRUST.

As trustee of the Trust, you have full control and can do anything you could do before -- buy and sell assets, change, amend or even cancel your Trust. That's why it's called a revocable living trust. Tax returns are filed the same.  Nothing changes but the title names.

10. TRANSFER OF ASSETS INTO A TRUST.

Your banker, your financial adviser and insurance agent can help.  Typically, changed are titles on real estate, stocks, bank accounts, investments, insurance and other assets with titles.  Living Trusts also include jewelry, clothes, art, furniture, and other assets that do not have titles.  Some beneficiary designations (for example, insurance policies) may be changed to the Trust so the court can't control them if a beneficiary is incapacitated or no longer living when you die. (IRA, 401(k), etc. can be exceptions.)

11.  DOES THIS TAKE A LOT OF MY TIME. IS IT A DIFFICULT PROCESS?

No, it is a fairly easy process. However, it can avoid beneficiaries from paying the courts and attorneys to do it for you later.  One of the benefits of a Living Trust is that assets are brought together under one plan.  It's important to remember to fund the Trust (putting assets into the Trust); a Trust only protects assets that have been transferred into it.

12.  WHAT ABOUT A CORPORATE TRUSTEE.

You may decide to be the trustee of your Trust.  However, some people select a corporate trustee (bank, fiduciary or trust company) to act as trustee or co-trustee now, especially if they don't have the time, ability or desire to manage their Trust, or if one or both spouses are ill.  Corporate trustees are experienced with Trusts although their fees can be expensive.

13.  CONTROL OF ESTATE IF SOMETHING HAPPENS TO YOU.

If you and another person are co-trustees, then either of you can act and have instant control if one becomes incapacitated or dies.  If something happens to both of you, or if you are the only trustee, the successor trustee(s) you personally selected will step in.  If a corporate trustee is your trustee or co-trustee, they will manage or continue to manage the Trust.

14.  WHAT DOES A SUCCESSOR TRUSTEE DO?

Upon incapacitation, a successor trustee(s) looks after your care and manages your financial affairs for as long as needed, using your assets to pay your expenses.  If you recover, you resume control.  When you die, your successor trustee(s) pays your debts, files your tax returns and distributes your assets.  All can be done quickly and privately, according to instructions in the Trust, without court interference.

15.  WHO CAN BE NAMED AS THE SUCCESSOR TRUSTEES?

Successor trustees can be individuals (adult children, other relatives, or trusted friends) and/or a corporate trustee or Fiduciary.  If an individual is chosen, additional successors can be named in case the first choice is unable to act or co-Successor Trustees to work together to settle the estate.

16.  DOES THE TRUST END UPON DEATH.

A Trust doesn't have to die.  Assets can stay in the Trust and be managed by the trustee(s) selected, until your beneficiaries reach the age(s) you want them to inherit.  The Trust can continue longer to provide for a loved one with special needs, for education purposes, or to protect the assets from beneficiaries' creditors, spouses and future death taxes.

17.  TRUST SAVINGS ON TAXES.

An estate may have to pay federal estate taxes if its net value when upon death is more than the "exempt" amount at that time. A Living Trust can include provisions to save a substantial amount of money for your loved ones and reduce or eliminate estate taxes and capital gains taxes.

18.  DO A TRUST AND A WILL DO THE SAME THING.

A Will can contain wording to create a Testamentary Trust to save taxes, care for minors, etc.  But, because it's part of a Will, this Trust cannot go into effect until after death and the Will is probated.  So it does not avoid probate and provides no protection at incapacity.

19.  IS A LIVING TRUST EXPENSIVE?

Not when compared to all of the costs of court interference at incapacity and death. There are many options available to save money on the preparation of a Living Trust. 

20.  HOW LONG DOES IT TAKE TO GET A LIVING TRUST?

It should only take a few weeks to prepare the legal documents after you make the decisions.

21. WHO CAN PREPARE A LIVING TRUST?

In the State of Arizona, an Arizona Certified Legal Document Preparer or an Attorney can prepare your documents.

22.  WHEN YOU HAVE A LIVING TRUST IS THERE ALSO A WILL?

Included is a Will that acts as a safety net if you forget to transfer an asset to Trust, sometimes called a “Pour Over” Will.  When you die, the Will "catches" the forgotten asset and sends it into the Trust for distribution.  The asset may have to go through probate first (if it exceeds the probate exemption amount), but it can then be distributed as part of your overall Living Trust plan.  Also, if there are minor children, a guardian can be named in the Will.

23.  ARE A LIVING TRUST AND A LIVING WILL THE SAME THING?

A Living Trust is for financial affairs.  A living will is for end of life choices; it lets others know how you feel about life support in a terminal situation.

24.  HOW LONG HAVE LIVING TRUSTS BEEN AROUND?

They have been used successfully for hundreds of years.

25.  WHY A LIVING TRUST.

Age, marital status and wealth don't really matter.  If titled assets are owned and the goal is for beneficiaries (spouse, children or parents) to avoid court interference upon death or incapacity a funded Living Trust enables that protection. 

26.  SUMMARY OF BENEFITS OF A LIVING TRUST.

· To avoid probate at death, including multiple probates if you own property in other states

· Can prevent court control of assets at incapacity

· Brings all of your assets together under one plan

· Provides maximum privacy

· Quicker distribution of assets to beneficiaries

· Assets can remain in trust until you want beneficiaries to inherit

· Can reduce or eliminate estate taxes and capital gains taxes

· Inexpensive, easy to set up and maintain

· Can be changed or cancelled at any time

· Very difficult to contest

· Can prevent court control of minors' inheritances

· Can protect dependents with special needs

· Can protect pets with a pet trust

· Prevents unintentional disinheriting and other problems of joint ownership

· Can have professional management with a corporate trustee

· Peace of mind

Our office is located at 3100 N. Navajo Dr., Ste. B-1, Prescott Valley, AZ 86314 

(The NW corner of Florentine and Navajo Dr.)