Serving Queen Creek, Gilbert, Mesa, San Tan and the entire East Valley
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
Estate planning takes a lot of time, but another factor that needs to not be overlooked is having a power of attorney.
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.