Learning On the Journey – Wills and Trusts

To finish the moment, to find the journey’s end in every step of the road, to live the greatest number of good hours, is wisdom. – Ralph Waldo Emerson, writer and philosopher

Trying to live life according to Emerson’s powerful words in our world today is sometimes a difficult task. I often find myself wanting to skip the journey and enjoy the destination but in all actuality I find that the journey and the destination are one in the same.

I’ve been blessed to discover this world of midwifery and motherhood. Almost six months pregnant with my first child every day, every hour, and every second is a new learning experience. I originally found myself at Wendi’s door offering her my doula services to clients. I found a new path in life in which I can help find strength and power within myself by helping women know their power during labor.  From Womb to Willpower Doula Services, caring for you so that you can care for your baby is my mission and now I have to provide that love for myself as well. I have always believed that knowledge is power and in order to respect the mother, doula, childbirth educator, and breastfeeding consultant I want to be in the oncoming years I have to do the research, take the steps, and gain the experience now.

In the search to find something to share I came across a concept that I have never thought much about. My will, estate, and assets. Who will get my house, land, car, or life insurance when I die? Will it be hard for those left behind to retrieve it?  It turns out that passing on your assets are a lot more complicated than just hoping it all works out. Did you know that Arizona is a community property state? That means “If you are the spouse of someone who dies, in most cases you will not be responsible for their debt. However, if you live in a community property law state, debts of deceased people do pass to surviving spouses and hold them responsible for repayment. The 10 states with such laws are: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.” (http://www.nerdwallet.com) Makes you rethink the whole getting married under the law process.

I also found out that when you pass away if you don’t have a will, trust, or estate plan set up your assets go into probate.

“Sometimes it becomes necessary for courts to oversee the distribution of your assets upon your death. That’s where probate comes in. Probate is the legal process by which a person’s final debts are settled and legal title to property is formally passed from the deceased to his or her beneficiaries and heirs. There are many arguments for and against probate and its value in an estate plan. Probate provides a court-supervised distribution of an estate’s assets. However, the process subjects an estate to public scrutiny and additional costs of probate.” (http://www.newyorklife.com)

Sounds like an extra burden that should be avoided as much as possible.

Have you ever gone through a probation process to gain inheritence? Have you ever had trouble gaining custody over children? Do you know a good attorney in Arizona to talk about making a will, trust, or estate plan? As I see it, action taken now can prevent a stressful reaction later. Below I have included some links to some articles to provide a little more insight.

10 things you should know about living trusts

When my parents die, will I inherit their debt?

The primary purpose of of having assets in your trust

Overview of the probate process

I’m already surprised about how much I’ve learned since becoming a doula and mother. I’m ready to face more of the unknown instead of being scared of  the path least followed. I will take charge of my destination in life. I think Will Smith said it best in the movie After Earth, “Fear is not real. It is a product of thoughts you create. Do not misunderstand me. Danger is very real. But fear is a choice.” I’m going to continue to make the choice to empower my willpower.

Peace and Blessings,

Old Earth

 

 

 

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