Most people in Arizona and New Mexico think that estate planning is primarily a tool for passing on money. While that is one element, a proper estate plan does so much more. Not only can you save your loved ones from the costs and headaches of probate but you can often provide much more than just some money in the bank for your beneficiaries. You can leave an entire legacy.
An example of an asset that many people forget about while planning their estates is their frequent flier miles. By donating these miles to charities such as the Make-A-Wish Foundation® , you can help to fulfill the dreams of children with life-threatening conditions. Each year the Make-A-Wish Foundation® has a need for over 2.5 billion miles. These miles are used to help grant the wishes of countless children each year. The stories of these children and the wishes granted to them are both incredibly touching and inspiring. A simple act like donating your frequent flier miles can provide a lasting impression on your family.
Phoenix estate planning attorney Dan R. Morris has often said, “The most important document you need is not one that I can give you. It is a letter that you write to your children and grandchildren. In this letter you need to tell them about the type of person you are and the type of person you want them to become.”
A well drafted estate plan (trust) should protect your loved ones from the costs and headaches of probate and help to avoid the paying of costly and unnecessary taxes. A good estate plan can even protect your beneficiaries from losing their inheritance to creditors, divorce or from lawsuits.
Morris Hall has incorporated a Legacy Booklet into their estate plans. This portion of your estate plan allows you to make a record of your life experiences and to preserve lasting memories for your family to cherish. While this is not a complex estate planning tool, it is often one that your children and grandchildren find truly priceless.
So the question is, do you have more to give than you realize?
To incorporate your own legacy into a tailored estate plan that will benefit your family for generations to come, contact Morris Hall at 888.222.1328.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, powers of attorney, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, insuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
Contributed by MH attorney West Hunsaker
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
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