PROTECT YOUR FAMILY LEGACY
PROFESSIONAL LIVING TRUSTS
ALTA Tucson Estate Planning Services offers complete Asset Protection & Living Trust packages. This includes all relevant documents and coordination of services for clients and family members during their times of crisis.
Over 40 Y Ears of Estate PLanning Experience
Personalized Services that go above and beyond
Emergency Hotline Available 24/7/365
What is Strategic Estate Planning?
Living Trusts FAQs
1. What is a Living Trust and how does it differ from a Will in terms of managing and distributing your assets?
Answer: A Living Trust is a legal document that allows for your assets to be held and managed by you during your lifetime and distributes your assets to your designated beneficiaries upon your death, all without the need for court probate. A Will only takes affect after your death and requires court probate to distribute your assets to your loved ones pursuant to your instructions. In addition, a Living Trust will allow family members to manage your affairs during times of your disability or inability to act. A Will does not have this benefit.
2. What are the advantages of establishing a Living Trust and how can it benefit your estate planning goals?
Answer: As stated above, Living Trusts avoid the costly and time-consuming necessity of Conservatorship and Probate during times of disability or death. A Living Trust saves significant time and money regarding the administration of your assets during your life and distribution upon death.
3. Are you in control of your affairs when establishing a Living Trust?
Answer: Yes. In most instances, you will be designated as the Trustee of your Living Trust. In such legal capacity, you will be in total control of your financial affairs and management of your assets at all times so long as you are capable of doing so. The benefit of a Living Trust is to allow for your designated Successor Trustee to act automatically and immediately when you no longer can do so. This is extremely important and beneficial to you and family members during times of your disability and/or death. The bottom line is Living Trusts avoid court and expensive lawyers.
4. Are you capable of changing your Living Trust after it is established and what are the differences between a Revocable and Irrevocable Living Trust?
Answer: Most trusts created today are deemed Revocable Trusts and may be amended or revoked at any time by you as the Trustor (creator) of the Trust Agreement. You are in complete control of the Trust. Upon your death, the Trust Agreement becomes irrevocable and may not be amended, modified, or revoked by beneficiaries or third-parties. An Irrevocable Trust may not be amended, modified, or revoked after formation. There are certain benefits to an Irrevocable Trust, such as tax benefits and asset protection that make an Irrevocable Trust useful under certain circumstances.
5. What are the roles of the Grantor, Trustee, Successor Trustee and Beneficiary of a Living Trust?
Answer: The Grantor or Trustor is the creator of the Trust, which is usually you. The Trustee of the Trust Agreement manages the Trust and the Trust Property. This person is usually you as well. The Successor Trustee is a person designated by you to take over control and administration of the Trust and Trust Assets for your benefit during times of disability and to distribute the assets to beneficiaries upon your death. This person is usually someone appointed by you that you trust. The beneficiary is the person or persons receiving your estate assets upon your death.
NOTE: It is important to seriously consider who you designate to fill these positions of authority. We strongly recommend that you contact our office at (520) 797-1400 to have a discussion before making these decisions
6. What happens to the Living Trust and Trust assets upon your death?
Answer: Upon your death, the assets constituting the Trust Property shall either be held in the Trust or distributed to beneficiaries pursuant to the specific terms of distribution outlined by you in your Living Trust. The successor Trustee will manage and distribute the Trust assets according to your instructions without the need for probate and allowing for a smooth transition of your estate.
NOTE: It is imperative that there is good communication and coordination between your Successor Trustee and your professionals to allow for complete and proper estate administration upon your death. This is why we strongly recommend that you and/or your Successor Trustee contact us now and in the future at 520-797-1400 during times of disability or death.
Tucson and Southern Arizona
Estate Planning Services.
ALTA Estate serves Families in Tucson and Southern Arizona by providing the following services:
Trusts
Strategic Estate Planning
Establishing various types of trusts to protect assets, reduce estate taxes, and provide for beneficiaries in a controlled manner.
Powers of Attorney
Durable and Healthcare Powers of Attorney
Prepared to allow designated individuals to make financial and medical decisions on the client's behalf in case of incapacity.
Advance Directives
Living wills and Healthcare Directives
Created to express clients' preferences for medical treatment and end-of-life care when they cannot communicate their wishes.
Estate and Gift Tax Planning
Tax-efficient Estate Planning
Developing strategies to minimize estate and gift taxes while maximizing wealth transfers to beneficiaries.
Asset Protection
Wealth Preservation or Financial Risk Management
Implementing proven strategies to shield assets from potential creditors, lawsuits, or other financial risks.
Business Formation
Formation and Tax Planning
Advising clients on the appropriate business structure, such as LLCs, corporations, or partnerships, and assisting with the necessary legal documentation
Mark Fishbein, Tucson Estate Planner
Mark is an Experienced Estate Planner with Empathy!
Mark Fishbein, a seasoned estate planner based in Tucson, has garnered significant expertise to serve his clients optimally. As the founder of ALTA Estate Services, LLC, Mr. Fishbein has been recognized by numerous professional organizations for his skill, empathy, and professionalism while managing sensitive and personal legal matters. Some of these organizations include the BBB of Southern Arizona, the Special Olympics Organization, and the Guardianships of Southern Arizona, among others.
ALTA Estate Services, LLC is an estate planning agency specializing in creating expert legal documentation for Wills, Family Trusts, Medical Powers of Attorney, and Business Licensing. With over four decades of experience, ALTA is committed to delivering top-notch legal documentation preparation for clients throughout Arizona.
A personal experience sparked mark's motivation to excel in estate planning: "I don't want anyone to go through the experiences I endured following my father's death." This event, which took place twenty years ago, shaped his practice philosophy, which he now calls "Peace of Mind."
Having practiced law for nearly 40 years, Mark Fishbein specialized in estate planning, business and corporate planning, and asset protection planning. His legal career began with administrating his father's estate, which inspired his focus on estate planning. Although he has retired from actively practicing law as a licensed attorney, Mark now leverages his extensive personal and professional experience to strengthen the ALTA team. Additionally, he holds copyright for his Trust and estate planning documents.
Education
Mark Fishbein, Tucson AZ: Syracuse University, College of Law; Syracuse, New York, May 1979
1979 Law School Moot Court; Dean’s List: 1978, 1979
Washington University, St. Louis, Missouri, Bachelor of Science, Business Administration, 1976
Dean’s List: 1974, 1975, 1976. Graduated with honors in the top 10% of class
Present Associations
Chairman of the Board, Guardianships of Southern Arizona; Southern Arizona Estate Planning Council; ALS Association of Southern Arizona; Southern Arizona Alzheimer Association; Accredited Member Southern Arizona Better Business Bureau; Salvation Army Advisory Board, Adult Rehabilitation Center, Tucson, AZ. Noted Speaker and Author. Click for more information about Family Trusts and Wills.
Proud member of the Tucson BBB.
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ALTA Estate Services’ Credentials
Among other professional organizations and associations, ALTA Estate Services, LLC is a certified legal document preparer company licensed by the Supreme Court of Arizona. In addition, ALTA Estate Services, LLC has been an Accredited Member of the Better Business Bureau of Southern Arizona for 20 years with an A+ rating. In addition ALTA is associated with such private organizations assisting the community and people with special needs as Guardianship of Southern Arizona, Beacon Foundation and Linkages of Southern Arizona.
Happy Clients of Alta Estate Services
Preserving your legacy in 3 simple steps
Step ONE
Employing legal and financial strategies to safeguard your assets.
Step TWO
Optimizing tax planning to minimize liabilities.
Step THREE
Establishing provisions for the care and well-being of your loved ones.
