Estate Planning

Magellan estate planning lawyers in Scottsdale, AZEstate Planning Attorneys in Scottsdale, AZ – Magellan Law

Estate planning is the act of preparing documents that determine how a person’s wealth and assets are to be managed after the person’s death.  Assets, real estate, pensions, cars, life insurance, businesses, and personal belongings are all part of an estate plan.  Every Estate Plan is different and takes careful strategy to ensure each aspect of the estate is protected for future generations.  Estate plans can also add many tax benefits which the Scottsdale estate planning attorneys at Magellan Law will discuss with you.  They have extensive experience with both simple and complicated estate plans, and know how to accomplish the best benefits for eacg.

Magellan Law estate planning attorneys in Scottsdale, AZWhy should you go to an estate planning attorney instead of a financial adviser offering to do
a Will or Trust for you?

First of all, financial advisers are not attorneys. Many people get invited to go to a fancy dinner and hear a pitch from a financial adviser or a life insurance agent trying to sell their services. Sometimes these professionals also claim they will create your estate plan. There are also what’s commonly known as “trust mills”, or computerized programs, that claim to set up your estate plan for cheap.  In general, these services are too generic, especially if you have particular concerns.  These professionals may know their industry, but they do not know the most current estate laws, or the aftermath of what happens when a loved one passes away and an estate plan was not executed properly.  They will try to fit your estate plan into a “box” because that’s all they know how to do. This does not mean your estate plan is complete, enforceable, or protected.  Put bluntly, proper estate planning cannot be done as a single, quick transaction.  It is more complicated than simply signing a generic Trust or Will.

Paul Deloughery is a Scottsdale estate planning attorney who is personable, knowledgeable, and experienced.  He understands that every single estate plan is unique and must be handled with the utmost attention to detail. Mr. Deloughery is different from some other well-marketed Arizona estate planning lawyers because he or his associate Bernard Johnsen don’t do a “bait and switch”.  Some other estate planning firms will charge a reasonable rate for initial estate planning documents but when the spouse dies, the family discovers that the documents require them to use the law firm that set up the documents and this same law firm tells them the high cost of money to administer the estate or trust.

Magellan Law cares – free consultation

In comparison, Magellan Law charges a reasonable price at every stage.  And, the attorneys at Magellan Law are personally involved in every aspect of your Estate Plan. They will be involved in your case and will be available if you have a question. They are also part of your team of other professionals you work with, such as your CPA or business partner in full transparency if needed.

Magellan Law in Scottsdale, Arizona offers a confidential consultation so we can get to know your unique situation and help sort out your estate plan. We will ask you many questions to help us learn about your family and individual needs.  Paul Deloughery and Bernard Johnsen have helped hundreds of clients, and especially those with blended families.  You may think your Estate Plan is straight forward and “easy” but the reality is that no estate plan is that easy or that simple. There are many steps to ensure your family is protected, your money is secure, and your assets can be enjoyed by future generations so that everything works together.  For example, if you are in a second marriage and you own your house, investment accounts, and other assets in joint tenancy with right of survivorship with your spouse, your kids probably aren’t going to receive anything after you die … even if you have a Will or Trust that names your kids as beneficiaries.

Estate planning is essential for piece of mind

You know your financial situation the best but imagine if you passed away tomorrow and your heirs were left trying to sort through paperwork to find bank statements, business contracts, property deeds, car titles, stock portfolios, and other assets.  It would probably be a challenge just to figure out your online passwords, much less the rest of the pertinent information.  Many times spouses or heirs are left with a mess of paperwork trying to figure out estate details.  This is stressful and does not even allow the family to mourn your loss properly.

Magellan Law is comfortable helping successful families and complicated estates. We know how to incorporate the latest technology into your Plan so that your trustee has access to all of your passwords and a trustee can more easily take over managing your business when you are no longer able to.

Can I set up my own Estate Plan?

Let’s answer this question with another question. If you were wrongfully arrested and facing prison time, would you represent yourself in court? You legally CAN represent yourself.  You CAN also choose to use a free attorney, however you would probably search for the best attorney to clear your record and ensure you are not sent to prison, right? The same concept applies to setting up your estate plan. Even though budget estate plan packages and DIY estate planning kits are available, there are some things you should leave to a professional. Planning your estate is one of them. Knowledgeable Scottsdale estate planning attorneys such as Magellan Law is essential to ensure your estate is protected correctly for yourself now, and for your future generations.

Paul Deloughery has been practicing law since 1998 and has focused his practice on estate planning since 2001. He also has years of experience with incorporating businesses into estate plans. There are several ways to set up a successful estate plan and when businesses are involved it can get tricky. Sometimes family businesses need several levels of protection and the businesses owners don’t realize how vulnerable their family business is to lawsuits, creditors, etc. Paul is creative and thinks outside the box to figure out the best structure for your business estate plan and will explain the reason for each option.

Can creditors get to your money?

If you believe you are at risk of lawsuits, it is absolutely essential for you to protect your assets by properly planning your estate now. The type of planning that protects yourself from creditors is called asset protection, and can be incorporated into your estate plan with additional steps. Similarly, if your children have creditors, the best way to ensure that your estate goes to your kids (and not their creditors) is to do a proper estate plan. If you do not have a proper estate plan, then your hard earned money could end up going to your children’s creditors. Unfortunately, this is a very hard fact many parents don’t even think about. Protect your assets now by setting up your estate plan with at Magellan Law.

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