Trust Attorneys in Scottsdale
Is Your Estate Plan Incomplete? We Can Help.
Having a will is important, but your estate plan can be lacking if all you have is a will. By forming a trust, you can help your loved ones avoid probate and reduce your estate’s exposure to taxation, among other important benefits. There are many different types of trusts, but most people choose a revocable living trust to protect their wealth. Our attorneys can advise you of your trust options and which may be best suited toward helping you achieve your goals.
At Mazza Law, we are dedicated to providing our clients with the best possible legal service. We do this by ensuring each client receives a personalized level of attention to their needs. We invest time in learning as much about our clients and their goals, which helps us identify legal options and strategies that can help accomplish what needs to get done. For more information about what our trust attorneys in Scottsdale can do for your, schedule a consultation with us today!
How Does a Revocable Living Trust Work?
A revocable living trust is an estate planning document to which you can transfer property in your estate for your benefit as well as that of your beneficiaries after you pass away. Everything you fund into one of these trusts – be it cash, bank accounts, real estate, vehicles, and other property – is carefully managed by a trustee you assign to care for your property in your interest or that of your beneficiaries.
This allows a trust to avoid probate, which is one of its most important features – and the primary reason why many people choose to establish one. A revocable living trust allows you full access to your property during your lifetime, but protects loved ones you designated as beneficiaries from having to go through probate to receive their inheritances when you pass on.
Avoiding probate is important for many because it can mean avoiding court fees, attorneys’ fees, and public exposure to matters a family may wish to keep private. Probate is a matter of public record, which means what occurred during proceedings can be openly researched by any member of the public. For this reason, families that wish to preserve their privacy may choose a trust to do so.
Why Do I Need a Revocable Living Trust?
You may need a revocable living trust if any of the following apply to you:
- You own property in multiple states
- You want your estate to avoid probate
- You want to keep your postmortem affairs private
- You want your spouse’s assets protected upon your passing
- You want asset management and protection for children who need help handling their money
- You want to plan for a potential disability occurring before you pass away
- You want to plan for a loved one who has a disability or other special needs
- You want to protect your children’s inheritances from your spouse or in-laws
- You don’t want the courts involved in your estate’s affairs
Talk to our trust attorneys in Scottsdale to learn more about what a revocable living trust can do for you and why you should create one.
What Else Should I Know about Revocable Living Trusts?
Revocable living trusts allow you to assign a successor trustee in the event of your incapacitation (if you are the primary trustee) or the trustee you assigned is themselves unable to carry out their fiduciary duties.
It’s also important to note that for all of the advantages you gain with a revocable living trust, these do not protect your assets from lawsuits, nursing home costs, bankruptcy, divorce, or other such legal actions. There are, however, other types of trusts that we may be able to help you establish that do protect your assets under some of these circumstances.
Our energetic legal team blends high-level knowledge and legal skills with a warm, compassionate manner that sets us apart. Often our clients tell us how relieved they feel after their first consultation at Mazza Law. Many clients are surprised at how a potentially difficult experience was made joyful by the experienced guidance of our attorneys. We take great care in how we partner with our clients, working to meet your needs and deliver the best legal outcomes possible.
Over the years Mazza Law has grown because of word-of-mouth praise from both clients and those in the legal community. Attorney Danny Mazza has been identified as one of the top 2.5% of attorneys by Super Lawyers four years in a row (2017-2020). Most recently he was recognized by the Chief Justice of Arizona’s Supreme Court for his service on the Supreme Court’s Attorney Ethics Advisory Committee, as well as by the State Bar of Arizona for his term as a Governor.
We believe that these honors and accolades underscore why Mazza Law has been successful: our experience, involvement, and genuine dedication to the people we serve.
For more information about our firm and services, contact Mazza Law PLC online.