Skip to content
  • Call For a Consultation (602) 910-4068
Contact Us
  • Call For a Consultation

(602) 932-3187

estate planning law firm
  • Home
  • Start Here
    • Becoming a Client
    • Our Story
    • Our Approach & Values
    • Meet the Team
    • Client Testimonials
  • PROTECT MY FAMILY
    • Estate Planning
    • Wills and Trusts
    • Power of Attorney
    • Deeds & Real Estate Transfers
  • Specialized Planning
    • Minor Children
    • Special Needs Trusts
    • Asset Protection Planning
    • Irrevocable Trusts
  • Elder Care
    • Long term Care
    • Medicaid (ALTCS)
    • Guardianship
  • Probate
    • Do I Need Probate?
    • Avoiding Probate
    • Trust Administration
  • Business Planning
    • Business Formations
    • Business Succession Planning
    • Operating Agreements
    • Employment Agreements
  • Resources
    • Estate Planning Blog
      • Estate Planning
      • Elder Law
      • Probate
      • Business Succession
      • Guardianship
    • Videos & Recordings
    • Seminars & Webinars
    • Free Estate Planning Masterclass
    • Educational Library
    • Estate Planning Resources For Professional Advisors
    • FAQs
    • Media Room
  • Contact Us
    • Schedule Strategy Session
    • Office Locations
  • Home
  • Start Here
    • Becoming a Client
    • Our Story
    • Our Approach & Values
    • Meet the Team
    • Client Testimonials
  • PROTECT MY FAMILY
    • Estate Planning
    • Wills and Trusts
    • Power of Attorney
    • Deeds & Real Estate Transfers
  • Specialized Planning
    • Minor Children
    • Special Needs Trusts
    • Asset Protection Planning
    • Irrevocable Trusts
  • Elder Care
    • Long term Care
    • Medicaid (ALTCS)
    • Guardianship
  • Probate
    • Do I Need Probate?
    • Avoiding Probate
    • Trust Administration
  • Business Planning
    • Business Formations
    • Business Succession Planning
    • Operating Agreements
    • Employment Agreements
  • Resources
    • Estate Planning Blog
      • Estate Planning
      • Elder Law
      • Probate
      • Business Succession
      • Guardianship
    • Videos & Recordings
    • Seminars & Webinars
    • Free Estate Planning Masterclass
    • Educational Library
    • Estate Planning Resources For Professional Advisors
    • FAQs
    • Media Room
  • Contact Us
    • Schedule Strategy Session
    • Office Locations

What are the Estate Planning Basics?

Serving Clients in the Gilbert, Arizona Area

estate planning basics journal and pencils
  • August 22, 2020
  • Advanced Directives, Asset Protection, Estate Administration, Estate Planning, Life Insurance, Power of Attorney, Probate, Trust Administration, Wills & Trusts
Gilbert Arizona estate planning attorney

BY: Jake Carlson

Jake Carlson is an estate planning attorney, recognized business leader, inspiring presenter, and popular podcast host. He is personable and connects immediately with others. A natural storyteller, he loves listening to your story and exploring what matters most to you.

Get To Know Jake
Please Share!
Facebook
Twitter
LinkedIn
Email
It's never too early to start working on how your things will be handled, once you pass away.
  • Scroll Down to Read Article

Estate planning is an all-encompassing term that refers to the process of organizing, inventorying and making plans for the proper handling of your affairs after you die, including your dependents as well as your assets, valuables and heirlooms. This typically involves writing a will, setting up a power of attorney and detailing funeral arrangements with the help of an experienced estate planning attorney.

CNET’s article entitled “Estate planning 101: Your guide to wills, trusts and all your end-of-life documents” provides us with some of the key steps in getting started with estate planning basics.

Create an Inventory. Your estate includes all of the things you own, such as your car and other valuable possessions, plus “intangible assets” like investments and savings. If you own a company, that’s also part of your estate. Everything you own should be given a valuation. Have your home and other valuables appraised.

Evaluate your family’s needs. A big reason for estate planning is to make certain that your family is cared for, in the case of your death or incapacitation. If you’re a breadwinner for your family, the loss of your income could be devastating financially. Consider a life insurance policy to help provide a financial cushion that can be used to cover living expenses, college tuition cost, and mortgage payments. You may also need to designate a guardian, if you have children under the age of 18.

Make job assignments. Dividing up a person’s property can be a tough and emotional task. Make it easier by ensuring that all of your assets have been assigned a beneficiary. You’ll also name a few people to coordinate the process of dividing up your belongings. List your beneficiaries, so they know who gets what.

Create a Will. You should have a legally binding document setting everything out in as much detail as possible. A will is a legal document that directs the way in which you want your assets and affairs handled after you die. This includes naming an executor, who is someone to manage how your will is executed and take care of the distribution of your assets.

Help your family if you’re incapacitated. A living will (also known as a medical care or health care directive) states your healthcare preferences, in case you’re unable to communicate or make those decisions on your own. If you need life support, a living will states your preferences.

Start with the basics of estate planning sooner rather than later. Talk to an experienced estate planning attorney today.

Reference: CNET (June 8, 2020) “Estate planning 101: Your guide to wills, trusts and all your end-of-life documents”

PrevPreviousCan I Protect My Estate with Life Insurance?
NextDo I Need a DNR in My Estate Plan?Next
Subscribe!

Recent Posts
  • Will Your Digital Life Outlive You?
  • Resources for Children with Developmental Disabilities
  • Protecting Your Business with Life Insurance
  • Managing a House After a Relative’s Death
  • How Does a No-Contest Clause Protect Your Will?
Categories
  • Advanced Directives
  • ALTCs
  • Alzheimer's Disease
  • Asset Protection
  • Business Formations
  • Business Succession
  • Charitable Planning
  • Dementia
  • Elder Law
  • Estate Administration
  • Estate Planning
  • Estate Tax
  • Guardianship
  • Life Insurance
  • Medicaid
  • Medicare
  • News
  • Power of Attorney
  • Probate
  • Retirement
  • Social Security
  • Special Needs
  • Trust Administration
  • Uncategorized
  • Wills & Trusts

Contact Us

All fields marked with an “ * ” are required

Practice Areas

Conservatorship Lawyer Mesa, AZ
End-Of-Life Planning Lawyer Mesa, AZ
Estate Planning Lawyer Mesa, AZ
Guardianship Lawyer Mesa, AZ

Wills And Trusts Lawyer Mesa, AZ
Living Will Lawyer Mesa, AZ
Business Formation Lawyer Mesa, AZ

Estate Administration Lawyer Mesa, AZ
Asset Protection Lawyer Mesa, AZ
Living Trust Lawyer Mesa, AZ

estate planning law firm
Facebook-f Twitter Linkedin-in Youtube Instagram Rss

Our Mesa Office

2500 S Power Road Bldg 14
Suite 132
Mesa, AZ 85209

Phone Number: (602) 910-4068

Our Gilbert Office

1425 S. Higley Road #106
Gilbert, AZ 85296

Copyright © 2025 – LifePlan Legal AZ. All rights reserved. Some artwork provided under license agreement. Privacy Policy | Disclaimer | Sitemap