When you were in school, you may have planted a time capsule in which you and your classmates placed special items to bury for future generations. You may fondly recall the item you chose to place in the time capsule, or perhaps you can't even remember what it was. Was it your favorite 8-track tape? A picture of you in your coolest bell-bottom jeans? A ticket stub from the first time you saw Star Wars?
After the passing of a loved one, you may have wondered what would happen to his or her remaining possessions. In most cases, individuals are in charge of ensuring that a person's remaining estate properly closes by carrying out necessary tasks. These tasks may come as part of the legal process known as probate, and a named executor or court-appointed personal representative typically has the responsibility of carrying out these tasks.
Arizona readers of all income levels know that having a strong estate plan is a smart step for everyone. Regardless of the types and value of your assets and savings, an estate plan can save your loved ones from complications in the future, as well as ensure that you get the final say over what happens to your assets.
When most people think of someone being addicted to drugs, they envision meth or crack addicts, along with individuals who get the munchies from smoking marijuana. However, a new type of addiction has gained footing in the country that breaks all boundaries and crosses economic and gender lines -- addiction to opioids. It's a painful fact that these days, many Arizona families deal with a loved one who suffers from such an addiction.
After the death of a close loved one, you may feel emotionally raw. During this time, you may wonder how long your grief will last and what the loss of this person could mean for you and the rest of your family. As a result, you may want to spend time focusing on the emotional aspects of this type of event.
Leaving a will is partly to make it clear who gets your things. By doing so, you would hope that you won't be splitting heirs — that is causing a rift between your loved ones if they have to decide how to share your belongings.
As you work to create your estate plan, you may wonder whether you need to utilize certain planning options. Because each plan created needs to suit the particular wishes of an individual, what works for other people may not apply to your situation. A close assessment of your estate and personal details could help you decide how to design the best plan for your circumstances.
While probate often seems like a dirty word in the estate-planning world, it is an important and necessary process for many estates. It is a way to ensure that the deceased person's final wishes are understood and carried out as closely as possible. This is more likely to happen when a will or other estate plan is in place, and such carefully prepared documents often hasten -- or even bypass -- the process of probate.
The death of a loved one can affect each Arizona resident differently. You may like to look back on your loved one's life with fondness of the loving times you shared together, or you may feel an overwhelming sense of grief that makes it difficult for you to face the situation. Because reactions to death can bring about a variety of feelings, each person may handle their losses in their own ways.
Distributing a loved one's assets after his or her death can come as a bittersweet moment. You will certainly miss your family member immensely, but knowing that you and other individuals may obtain meaningful assets as a reminder of the special person may bring you some comfort. Of course, before any individuals can obtain assets from the remaining estate as dictated in a will, the probate process must finish.