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 [...]

2017-06-02T16:55:51-07:00June 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 [...]

2017-05-17T15:59:32-07:00May 17th, 2017|Trusts|0 Comments

How to Make Your Inheritance a Long-Term One

A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money.  Even more alarming - nearly one-in-five of those lucky enough to inherit $100,000+ either spend, donate and/or simply lose it all within that same time frame.  [...]

2017-05-10T12:30:45-07:00May 10th, 2017|Inheritance|0 Comments

The Beneficiary Deed (and its Many Benefits)

A beneficiary deed is a property deed that keeps legal title in the current owner’s name (or owners’ names) but, upon the death of a property owner(s), immediately transfers title to predetermined beneficiaries (oftentimes a living trust).  This can be a very good thing – the home will not be subjected to the time-consuming, costly [...]

2017-04-18T11:03:03-07:00April 18th, 2017|Deeds|0 Comments

IRA Required Minimum Distributions and Charity

You may have heard that, upon reaching 70½ years of age, we are required to begin withdrawing portions of our traditional IRAs on an annual basis. These Required Minimum Distributions (“RMDs”) are distributed regardless of whether the plan owner actually needs the money to supplement other income sources. These RMDs are always reported via tax [...]

2017-03-30T15:08:46-07:00March 30th, 2017|IRA|0 Comments

“Purposeless” Life Insurance Is Valuable

Oftentimes, the original purpose of a life insurance policy no longer seems relevant. The purchase may have been to ensure your children can go to college even if you die. Alternatively, it may have been to replace your salary if you died early but now you are retired and no longer receive a salary. The [...]

2017-03-21T11:04:33-07:00March 21st, 2017|Current Affairs|0 Comments

3 Reasons You Want to Avoid Probate

When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) solely in your individual name. Although having a will is a good basic form of planning, a will [...]

2017-03-01T14:15:55-07:00March 1st, 2017|Preventing Estate Challenges|0 Comments

Should You Act As Personal Representative?

There may be a time where you are asked by a family member or friend to serve as the executor, which in Arizona is called a personal representative (hereafter, “PR”), of their estate. The question is, should you? While an honor to be asked, acting as PR is a time-consuming, detailed job with many obligations [...]

2017-02-16T16:16:28-07:00February 16th, 2017|Preventing Estate Challenges|0 Comments

Wills vs. Trusts: A Quick & Simple Reference Guide

Confused about the differences between wills and trusts?  If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and guardianship. A revocable living trust [...]

2017-02-09T15:34:37-07:00February 9th, 2017|Trusts, Wills|0 Comments