*An Efficient Way to Give – Part Two

(This analysis does not include planning for the use of state tax credits for gifts to qualified charities.) In a previous post, we suggested that direct gifts of your required minimum distributions (RMD) from your IRA trustee or custodian to your church or other charities is a tax-efficient method of giving (as opposed to you [...]

2018-10-31T09:00:14+00:00October 31st, 2018|Uncategorized|0 Comments

*An Efficient Way To Give – Part Three

(This analysis does not include planning for the use of state tax credits for gifts to qualified charities.) In two recent posts, we suggested two charitable giving strategies which are even more advisable under the new Tax Cuts and Jobs Act (effective January 1, 2018): -gifting your required minimum distributions (RMD), transferred directly from your [...]

2018-10-25T16:00:13+00:00October 25th, 2018|Uncategorized|0 Comments

An Efficient Way To Give

If you are 70 and ½ years of age, you are required to take minimum distributions (RMD) from your IRAs or else pay penalties. This RMD is then treated as taxable income to you. Under the new tax law passed in December 2017 and effective beginning January 1, 2018, the standard deduction has been increased [...]

2018-07-06T11:42:49+00:00July 6th, 2018|Assests, Beneficiaries, Inheritance|0 Comments

3 Foolish Ways to Leave an Inheritance for Your Children

Estate planning offers many ways to leave your wealth to your children. However, the key is being aware of what not to do. Here are some all-too-common mistakes to avoid: Joint Tenancy:  In lieu of setting up a trust (or, conversely, passing assets under a will), some people avoid a formal document and instead name [...]

2017-09-06T10:03:46+00:00September 6th, 2017|Inheritance|0 Comments

Which Life Events Require an Immediate Estate Plan Update?

Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your eventual death. One commonly known purpose of estate planning is to minimize unnecessary taxes and costs, including taxes imposed on gifts, estates, and probate court costs. However, your plan must also [...]

2017-08-02T15:16:03+00:00August 2nd, 2017|Preparing for Consult|0 Comments

Why So Personal, this Estate Planning stuff?

Often times, the process of planning one’s estate involves asking rather private questions and seeking answers to deeply personal issues.  But why does an attorney need to know this when a “situation is simple?”  Because estate planning is, by nature, very personal.  Without your estate planning attorney asking such probing questions, she or he cannot [...]

2017-07-10T12:15:08+00:00July 10th, 2017|Preparing for Consult|0 Comments

Your Cyber Legacy: 3 Tips for Your Digital Assets

There is an entire category of assets which, too often, are overlooked when planning your legacy – digital assets.  Perhaps you didn’t even consider these items to be “assets” when you set up your own will or trust.  If so, there is no need to worry as they are somewhat straightforward to address. The first [...]

2017-06-08T14:40:19+00:00June 8th, 2017|Digital Assets, Uncategorized|0 Comments

How to Avoid Unnecessary Chaos during your Potential Disability

As poet Robert Burns mused centuries ago, “the best-laid plans of mice and men often go awry.”  Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency.  A car accident, sudden illness, workplace injury or chronic medical condition can force you to re-evaluate the core assumptions you used to plan your future [...]

2017-06-02T16:55:51+00:00June 2nd, 2017|Preventing Estate Challenges|0 Comments

The QTIP Trust – Maintain Control of Your Estate while also Keeping your “Second Marriage Spouse” Happy

Estate planning for couples in a second (or later) marriage can be tricky.  Throw in children from a prior marriage and the plot quickly thickens.  One tremendous solution which allows a spouse to maintain control of his/her assets while also appeasing the other spouse is to utilize what is known as a QTIP Trust. Basics [...]

Don’t Leave Your Trust Unguarded: 5 Key Ways a Trust Protector Can Help You

Trust Protectors, while a fairly new tool in the estate planning world, are quickly becoming a wonderful protection mechanism for Arizona trusts.  At its most basic level, a trust protector is someone who may potentially, at some point in the future, serve as an appointed authority over a trust.  This authority can offer your trust [...]

2017-05-17T15:59:32+00:00May 17th, 2017|Trusts|0 Comments