Serving Queen Creek, Gilbert, Mesa, San Tan and the entire East Valley
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own your property in a way to avoid probate. As a result, people too often let common estate planning excuses stand in their way.
In estate planning, the use of trusts to manage the distribution of assets is becoming increasingly more common. However, for many people, the idea of setting up a trust during his or her lifetime is overwhelming and perhaps even unnecessary.
For couples who face depleting their own assets, using a Medicaid-compliant annuity could be a way to preserve assets and still qualify for Medicaid.
Being married is significant both for a married person’s lifetime estate planning and subsequent administration of the estate at death. Important rights and responsibilities exist between married persons.
Adult children typically don’t have to pay their parents’ bills. However, there are exceptions. Even when a child doesn’t have to pay directly, debt could reduce what they inherit.
You have many options to make sure your wishes are followed after you die.
Without a will, decisions made about your property and assets will be handed over to local courts, which can make an already challenging time even harder for your loved ones.
If you do not plan appropriately and thoughtfully, problems may arise with respect to this property and your family when you are gone.
These agents take over your affairs in specific areas, if you become physically or mentally incapacitated.
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Gilbert, AZ 85296
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