Making the Right Decisions in Wills and Trusts

One of the first steps to setting up a solid estate plan is determining how your assets will be handled through wills and trusts. These tools can be used to provide for your heirs and beneficiaries, or can be used to provide for you in the event of your incapacitation or need for elder care.

At the Law Offices of Mark Wm. Hofgard, Esq., we can help you make sound decisions regarding your estate. With more than 35 years of legal and business experience, we take great pride in providing our clients throughout Arizona and Colorado with the quality estate planning counsel they need and the peace of mind they deserve.

Set up a telephone consultation today. We can be reached online via email or by calling 623-327-3719

Making a Will

The first step to making a will is taking inventory of your property and determining which property will need to be passed through the will. Not all property can be passed through a will, and will therefore need to be handled differently. For example, property you own in joint tenancy will automatically pass to the co-owner of the property. Property held in trusts will be passed through the trust.

We can help you determine what should be in a will, and what would best be handled differently.

Establishing a Trust

Trusts are valuable tools for not only outlining who receives what assets, but also how those assets are transferred. For example, when financial assets are intended to be used for retirement, long-term health care or income for minor or special needs children, you may not want to transfer those assets in one lump sum. A trust can provide a means for steady distribution — something that can help you avoid significant lump-sum tax consequences or disqualification for government benefits programs.

We can give you the guidance you need and the one-on-one legal counsel necessary to create a customized estate plan using wills and trusts.