Estate Planning Services In Arizona
Mesa Arizona Estate Planning Attorneys
Choosing a law firm to guide and advise you in estate planning is one of the most important tasks you will do for yourself and your family. Experience and trust are just two of the factors to consider when choosing an estate planning attorney. At Compton Law, we are ready to help you with all aspects of estate planning and administration including trusts, wills, probate, business formation, business succession, asset protection, elder law, ALTCS planning, special needs trusts, blended families, pet trusts, and pre-marital agreements.
Estate Planning
Earning money and spending it are two great pleasures of life. Deciding who gets it when you are gone is a task most people would rather ignore. It is estimated that only 30% of American adults have taken the time to plan their estates.
Our Arizona attorneys are very good at estate planning. We have developed a process that makes the planning streamlined for our clients and where our clients feel like all their concerns are addressed. We can create your personalized living trust, will, a general power of attorney, living will, and medical power of attorney.
We don’t view estate planning as a ‘once and done event. Rather, we stay connected with our estate planning clients to ensure their plans work when they need to.
Probate
If someone dies, certain assets may pass to heirs free of court interference; however, many assets do not automatically pass to heirs without a court process. This court process is called probate. If a loved one has died, it is a good idea to meet with an attorney to determine what specifically needs to be done to ensure the title passes correctly.
Probation in the state of Arizona can become lengthy and time-consuming. Probate can be overwhelming, especially during a time of grief. The attorneys at Compton Law understand this and do what we can to bring peace through trusted advice. Our probate process provides our clients an understanding of what to expect, a timeline with set goals, and organizational tools to ensure the process stays on track.
If a loved one has passed away and you require probate assistance, the attorneys and team at Compton Law can help.
We Offer A Free 30-Minute Consultation Regarding Your Living Trust*
Trust Attorney in Mesa
A properly drafted and funded trust will generally avoid probate. The trust need not be filed with the probate court. Nonetheless, there are still steps necessary to administer the trust: beneficiaries must be contacted; assets must be gathered, valued, and managed; potential creditors must be notified; debts, taxes, and final expenses must be paid; and, ultimately, any remaining income and assets must be distributed in compliance with the trust terms.
Successor trustees often lack the time, resources, or knowledge to personally administer the trust, and therefore may call upon legal, accounting and investment professionals for assistance. Oftentimes, a corporate fiduciary (e.g., a private fiduciary or trust company) is an excellent alternative to relying solely on busy family members or friends to serve as trustees. We can help your successor trustee(s) deal with the complexities of administering your trust. Please call our office, and we will be happy to schedule a consultation, whether or not our office has drafted the original trust.
Special Needs Planning
There are several types of trusts to assist with these special planning challenges. The most common types are Support Trusts and Special Needs Trusts.
Support Trusts require the Trustee to make distributions for the child’s or heir’s support in areas like food, shelter, clothing, medical care, and educational services. This type of trust may be helpful if a child needs assistance in managing money or is drug-addicted. Beneficiaries of Support Trusts are not eligible to receive financial assistance through Supplemental Security Income (SSI) or Medicaid/AHCCCS. If your child will require SSI or Medicaid/AHCCCS, you should avoid a Support Trust.
For many parents, a Special Needs Trust is the most effective way to help their child with a disability. A Special Needs Trust manages resources while also protecting the child’s eligibility for public assistance benefits. Generally, Special Needs Trusts are either stand-alone trusts funded with separate assets (like life insurance) or they can be sub-trusts in existing living trusts.
Business Formation
Each business is unique, and the question of which form of business organization is best can only be answered by looking at the specifics of the business in question and the goals of its owner or owners. At Compton Law, we represent clients who own closely-held businesses in Arizona, including start-ups and family businesses. Our attorneys offer counseling on the most appropriate legal structure. We design and implement limited liability companies (LLC), corporations, general partnerships, and family limited partnerships. We address the role of buy-sell agreements among co-owners, life insurance as a planning or business succession tool, and retirement planning for owners and employees. Our goal is to maximize our clients’ protection, control, and benefits.
Successor trustees often lack the time, resources, or knowledge to personally administer the trust, and therefore may call upon legal, accounting and investment professionals for assistance. Oftentimes, a corporate fiduciary (e.g., a private fiduciary or trust company) is an excellent alternative to relying solely on busy family members or friends to serve as trustees. We can help your successor trustee(s) deal with the complexities of administering your trust. Please call our office, and we will be happy to schedule a consultation, whether or not our office has drafted the original trust.
Our Specialities
- Estate Planning
- Probate
- Wills
- Power Of Attorney
- Kids Protection Plans
- Living Trust
- Small Business Formation
- Asset Protection Plans
- Health Care Directives
- Special Needs Planning
