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Planning for the Future: Guardianship, Living Wills, and Protecting Your Children’s Assets

Estate planning is one of the most important tasks you can tackle to ensure your loved ones are taken care of, even when you’re not around to make decisions. Whether you are concerned about medical decisions, guardianship for your children, or protecting your minor children’s assets, proper planning can give you peace of mind and help avoid difficult decisions later. In this blog, we’ll explore some of the essential documents you need in your estate plan, including living wills, guardianship designations, and documents that protect your children’s future.

What Is a Living Will, and Why Is It Important?

A living will is a critical document that outlines your healthcare preferences in the event that you are unable to communicate them yourself. It provides clear instructions for your doctors and loved ones about what you want in a situation where you are unable to make medical decisions.

Imagine being kept alive by a machine and having your family or loved ones asked whether they should pull the plug. This can be an incredibly difficult decision to make, and it can put a tremendous amount of emotional strain on the person responsible for making it. A living will removes that burden from your family and makes your wishes clear, ensuring that your instructions are followed in these sensitive situations.

Having a living will gives you control over your healthcare decisions, even if you are unable to express them due to medical reasons. It’s essential to discuss your wishes with your loved ones and ensure your living will is in place, so they don’t have to make tough decisions on your behalf during an already stressful time.

Guardianship Planning for Minor Children: Who Will Care

The Essential Documents for Healthcare and Financial Planning

When creating an estate plan, it’s crucial to consider not only your assets but also the decisions you want to be made if you're unable to communicate them. Healthcare and financial planning documents are the foundation of this process, ensuring your wishes are followed and your family is prepared.

There are several key documents that should be included in any well-rounded estate plan. These documents give your designated agents the authority to make critical decisions on your behalf, whether regarding your health or financial matters. Understanding these documents and how they work together is essential for comprehensive planning.

What is a Healthcare Directive (DNR)?

A healthcare directive, often known as a Do Not Resuscitate (DNR) order, is a document that outlines your wishes in the event of a life-threatening medical emergency. The directive specifically instructs healthcare professionals whether or not to perform life-saving measures should your heart stop or you stop breathing.

For some, a DNR is a crucial part of end-of-life planning. The decision to decline life-saving treatment can be difficult, but it's essential that it reflects your personal values. While hospitals will respect a DNR, it’s important to understand the impact this decision may have. For instance, if you are choking or in need of medical intervention unrelated to life support, the presence of a DNR can lead to healthcare providers not taking action, which can result in serious consequences.

While a DNR is an important choice, it is ultimately up to you whether or not you complete it. However, if you do choose to complete this document, be sure it is placed prominently, such as at the top of your medical records, so that healthcare providers

Arizona Small Estate Exemption Values Increased

The Arizona legislature passed a bill signed by Governor Katie Hobbs on March 31, 2025, that amends Arizona Revised Statutes Section 14-3971 by increasing the small estate probate exemption:

  • from $75,000 to $200,000 for the personal property of a deceased Arizona resident.
  • from $100,000 to $300,000 for Arizona real estate owned by a deceased person.

This new law will take effect 90 days after the current legislative session ends.

The Key Documents in Your Estate Plan and Why They Matter

Why Estate Planning Is Essential

No one likes to think about death or incapacity, but preparing now can make all the difference for your loved ones. Estate planning isn’t just about deciding who gets what—it’s about protecting your assets, avoiding probate, and ensuring your wishes are followed.

At KEYTLaw, we provide our clients with a detailed estate plan portfolio that includes everything they need. But what do these documents actually do? What happens if you don’t have them in place? Understanding the role of each component in your estate plan will help you make informed decisions that secure your future and provide peace of mind for your family.

What Is a Will vs. a Trust?

A Last Will and Testament is a legal document that outlines your wishes for your assets after you pass. However, if assets remain in your name at the time of your death, they may still need to go through probate, a costly and time-consuming legal process.

A revocable living trust, on the other hand, allows you to transfer assets without probate. It also provides built-in protections in case you become incapacitated, as your successor trustee can manage your affairs.

Why Avoiding Probate Matters

Probate can take months or even years, depending on the complexity of the estate. During this time, your beneficiaries may not have access to the funds they need. Additionally, probate is a public legal process, meaning anyone can see your estate details, including creditors or potential disputes from family members.

A trust helps bypass this process, ensuring your assets are managed privately and efficiently. By placing your property, accounts, and investments into a trust, you ensure

Understanding Your Estate Plan Portfolio

Why Estate Planning Is More Than Just a Will

Many people assume that creating a will is enough to protect their assets and ensure their loved ones are taken care of. However, a will is just one piece of a comprehensive estate plan. A well-structured estate plan includes multiple legal documents that work together to manage your assets, protect your health decisions, and ensure your wishes are carried out without unnecessary legal complications.

At KEYTLaw, we provide our clients with a fully organized estate plan portfolio that includes everything from a revocable living trust to financial powers of attorney and medical directives. This structured portfolio helps you and your loved ones easily access and understand each component of your estate plan, ensuring clarity and efficiency when it’s needed most.

If you’ve never gone through the estate planning process before, you may not know what to expect. Here’s a complete breakdown of what’s included in our estate plan portfolio and why each document matters.

What’s Inside the Estate Plan Portfolio?

When you work with KEYTLaw, you receive a professionally prepared estate plan portfolio. This organized binder contains all the essential documents you need to protect your estate and ensure a seamless transition for your loved ones.

Each section is carefully tabbed and includes:

  • A Living Trust – The foundation of your estate plan, ensuring your assets are managed and transferred without probate.
  • A Last Will and Testament – A backup document that directs any assets not in your trust to be placed into it.
  • Powers of Attorney – Legal authorizations allowing someone to manage your financial