Should I Need a Trust in My Estate Plan?
A trust can be a vital component in an estate plan.
Serving Queen Creek, Gilbert, Mesa, San Tan and the entire East Valley
A trust can be a vital component in an estate plan.
While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
Thinking about what happens to your family when you pass away may be upsetting. However, it can be a good way to reduce the stress your loved ones will deal with during the grieving process.
People often overlook critical steps when they are doing their estate planning.
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.
If the surviving spouse is a second or subsequent spouse and did not have any children with the decedent, the surviving spouse takes even less.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
Here’s a simple financial question: who is the beneficiary of your IRA? How about your 401(k) or annuity?
Just 34% of adult Americans have an estate plan and 37% of respondents said they didn’t have a plan at the ready.
2500 S Power Road
Bldg 14 Suite 132
Mesa, AZ 85209
1425 S. Higley Road #106
Gilbert, AZ 85296
Copyright © LifePlan Legal AZ. All rights reserved. Some artwork provided under license agreement.
Privacy Policy | Disclaimer