Estate Planning

Planning your estate with Gilbert Tax Preparation Service

Estate Planning by Professionals

There is a role for both lawyers and financial professionals in estate planning. Each group has a specific, related area of expertise that can be used to complement the other when developing an effective estate plan. Frequently, clients require the assistance of both professionals in order to create a comprehensive plan that provides them with security and peace of mind during their lifetime and that secures their assets for their beneficiaries.

The role of the lawyer in estate planning is to prepare a client’s will while the role of the financial professional is to develop a financial strategy that can be communicated effectively within the context of a legal document. In some cases, the two roles may even overlap as many clients require direction from both professionals in order to make informed decisions. Fortunately, if you’re in the Gilbert area or near Phoenix, Arizona, we can help you out!

Gilbert Tax Preparation Service estate planners in Gilbert, AZ

Planning your estate in Gilbert, AZ

Financial professionals and tax preparers are sometimes asked by their clients to prepare a will, but most do not know the legal requirements and standards for preparing wills that lawyers possess. Also, the laws vary from state to state requiring lawyers who want to practice estate planning within their own jurisdiction to be knowledgeable about specific statutory directions in their jurisdictions.

Financial professionals who offer wills in addition to financial planning services such as financial audit preparation and financial analysis should be properly educated and registered/licensed if necessary. Otherwise, they put themselves and their clients at legal risk. Gilbert Estate Planning Service is a 3-decade old company. We offer a spectrum of services to individuals and companies. Gilbert Estate Planning Service is a one-stop shop for all your estate planning needs including wills, trusts, powers of attorney, and living wills. We provide you with basic information about the kinds of documents to consider during estate planning. Contact us today and let Gilbert Tax Preparation Service in Gilbert, AZ handle your estate planning.

Gilbert Tax Preparation Service estate planning in Gilbert, AZ

What does estate planning mean?

Estate planning is the process of arranging assets ahead of time in case of death. An estate plan aims to keep as much money as possible for the beneficiaries and flexibility for the owner before death. When you are planning your estate, you are planning everything from taxes to avoiding probate. Most people also want to provide for their family and friends while they are living. Financial instruments like insurance prove to be of great use during such legal and financial binds. Most people hire lawyers to write up wills and trusts, but there is some confusion about the process.

Estate planning is not limited to wills and trusts, but it can involve other legal documents too. A Gilbert Tax Preparation Service’s financial professional who works with you during the estate planning process must be aware of all the legal requirements if they are to ensure that your wishes are properly carried out in place of a will or trust when required by law. One thing you need to make sure of is that the documents are properly cross-referenced with each other. If you have multiple accounts, you should ensure that all these accounts are mentioned in the estate planning documents. This will avoid confusion and prevent unnecessary legal expenses for your loved ones after death has actually occurred.

What are the most important estate planning documents?

When you are planning for your estate, you can use different types of documents and each one of them is equally important. You don’t want any ambiguity that leads to legal complications after death has actually occurred. The 4 most important elements in an effective estate planning process include:


They will clearly state who gets what after you have passed away. This is the most important document for your loved ones to have in a time of need and it should be properly cross-referenced with other estate planning documents. The last will and testament must contain definite clauses that state how assets are being distributed to heirs.

The WILL MUST BE SIGNED BY TWO WITNESSES. This is to prove that you indeed signed your last will and testament before death has occurred i.e. when you were alive and in sound mental status.


This will state who gets to handle all the legal affairs for your loved ones if they become unable to manage it themselves. It is a document that allows someone else to sign documents and make decisions on behalf of another person. This can be an immediate family member, lawyer, or other trusted individual as long as the person is ready to take responsibility for your loved ones.

A POWER OF ATTORNEY MUST BE SIGNED BY TWO WITNESSES. These witnesses will be able to verify the authenticity of this document if they are called upon in case it is contested by someone else claiming that the person named on the document cannot legally sign documents or isn’t mentally sound enough to make decisions.


This is a document that you sign while you are still alive, but it takes effect only after death has occurred. This gives your family members access to the medical records of the dead person and keeps them informed about any planned or needed medical intervention. It also ensures that your wishes are respected during this time when emotions and mental health can be unpredictable. The ADVANCE MEDICAL DIRECTIVE MUST BE SIGNED BY TWO WITNESSES. Just like the other documents, this one too should contain proper cross-referencing with any other estate planning documents that it may interact with during a medical crisis.


This is a legal instrument that normally contains all of the estate planning documents above. It allows you to transfer your financial assets into the trust during life and lets you manage those assets for the benefit of others after death has occurred. With these documents in place, you are assured that your estate is organized and accessible to trusted individuals for management when the time has come.

How much does estate planning usually cost?

If you are looking for estate planning services, you can expect to pay anywhere from $150 – $400 depending on the complexity of your individual situation. More complex estate planning can run up to $150 an hour, so it just depends on what the goals of the individual are. Financial Professionals are normally more expensive than attorneys, but they are often able to coordinate with other professionals in estate planning.

Our professionals here at Gilbert Tax Preparation Service are well versed in this area and we can help you understand the different types of estate planning documents and how to best prepare them. We also offer a wide range of tax preparation services that include business, individual returns as well as payroll tax processing for both small businesses and individuals. When it comes to affordability, our pricing is extremely competitive. We pride ourselves on being affordable to individuals and businesses of all sizes.

Can I do estate planning myself?

The good news is that you can do estate planning yourself and save a significant amount of money. However, in most cases it is best to consult with a lawyer or financial professional since there are very specific requirements and an individual may not be aware of the implications of drafting these documents without proper legal guidance. With over 30 years of experience in accounting, bookkeeping, and helping people plan their estates, we can certainly assist you!

Our service is based on affordability and we offer services that cover all aspects of estate planning, including the preparation and filing of all the documents mentioned above. We can help you understand the process and make things easier for your family, both in retirement and in crisis.

Why should you consider hiring Gilbert Tax Preparation Service?

We offer specialized and experienced services and we cut out the middle man. Many professionals hire other companies to invite customers through telemarketing or cold calling, but we do all of our business online. This means that you can save money by paying only for what you need without paying extra fees to cover marketing costs, as well as maximizing your tax deductions and benefiting the most from your income tax returns. We also offer customized tax and business services for your specific needs. This is in contrast to other businesses that often purchase standard packages and try to sell them to everyone without any customization.

Our specialists are also well versed in all aspects of estate planning and can help you understand each part of the process, what you need and the steps needed to make things easier for your family during a difficult time. With over 30 years of experience, we have handled thousands of estate and tax-related matters. Estate planning can be a very delicate issue, but our team here at Gilbert Tax Preparation Service will make sure to handle all of your concerns with care. We can help you prepare for this eventuality by making sure that you have access to all documents whenever you need them. We would be happy to provide you with a free quote on our services offered at extremely competitive rates. Estate planning and planning for retirement are important steps in your financial life. Take care of it now so that you have peace of mind when the time comes.

Start Your Estate Planning Today

Gilbert Tax Preparation Service is a professional tax service located in Gilbert, AZ. We specialize in business taxes, individual taxes, and payroll taxes. We handle estate planning, which includes making sure all your documents are easily accessible to your loved ones when it’s time. We don’t believe in middlemen and instead go straight to the source by using telemarketing or cold calling. We pride ourselves on affordability and offer personalized services at low flat rates for business owners, employees, and individuals. Call us now!

FAQs About Estate Planning

When someone passes, a will is just one of the documents that help your family adjust. Estate planning usually involves multiple documents including wills, trusts, and more to protect you, your business, or your loved ones from financial harm. There are also different types of wills such as a living will, which is not the same as a regular will.

A trust is basically a document that lets you establish and name beneficiaries who receive property or assets after your death. Some types of trusts include:

  • A spendthrift clause protects your estate. The trust cannot be assigned to anyone who would mishandle it. This will protect your children or loved ones from frivolous lawsuits that end up burning through your estate, leaving nothing for their benefit
  • An unborn child clause protects the interests of children who are not yet born at the time you create your trust. This clause ensures that once your child is born, they will be the beneficiary and receive your property and assets.
  • A springing clause specifies that heirs will only inherit once certain conditions are met such as getting married or moving out of your state.

There are three main types of estate plans:

Basic estate planning: This is often known as a will and involves passing on property and assets to loved ones. Basic will also cover other important information such as healthcare directives and funeral preferences. Advanced estate planning: This covers more in-depth issues, including living trusts for minors or younger children, or a special needs trust for a loved one with a disability. Specialized estate planning: This is usually reserved for those involved in business, as it includes tax documents and business succession plans.

Being single doesn’t mean that you shouldn’t have an estate plan. Although you may not have children, you do have assets. If your business is your largest asset, you should still have a plan for it so that it does not get closed down after you pass away. Having an estate plan will also ensure that the IRS only takes the minimum amount required by law to cover any taxes owed at the time of your death.

In order for your estate plan to truly benefit you and your family, it is necessary that everyone from financial professionals such as CPAs or tax attorneys to insurance agents and realtors are included. Depending on the type of business you have, it will also require the input of a business attorney, and of course, your business partner (if you happen to own a business and have one).

Here is a short list highlighting the most important documents you will need:

  • Will/Trust: This document names those who receive or inherit your property at the time of your death as well as how they get it.
  • A living will: This document determines the actions you want to be taken in case of a medical emergency, such as CPR or life support. It also lets your family know the type of care you would like to have should you enter a vegetative state.
  • Power of attorney: A power of attorney is either general or limited and allows you to specify who handles different aspects of your affairs in case you are unable.
  • Letter of intent: This lets those closest to you know your wishes for funeral arrangements, as well as any other family-related issues including guardianship for children or healthcare directives.

Tax Preparers in Gilbert, AZ

Leverage our tax preparation resources so you can focus on your business.

Get In Touch With Our Tax Experts

You don’t have to go through the tax season alone. Gilbert Tax Preparation Service is here to help. Contact us today to schedule a free consultation and see how we can make tax season a little less stressful.