Serving Queen Creek, Gilbert, Mesa, San Tan and the entire East Valley
After a loved one dies, their affairs need to be set in order. You might find yourself planning a funeral, paying bills and closing accounts. The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
Like a lot of estate planning vehicles, irrevocable trusts work very well for some purposes—particularly for tax avoidance and asset protection—and not so well for other purposes.
The ongoing coronavirus pandemic has pushed many people to make long-delayed decisions about estate planning. Many people will try the do-it-yourself route via various websites or books. Internet DIY websites make it easy to download forms, but there are mistakes people make when they try do-it-yourself estate planning.
Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.
I am a single retired parent to an adult daughter, who is an only child. The home I currently reside for the last 26 years still has a mortgage and the deed is in my name only. I have a will that states everything is left to my daughter, and then to my grandson, if she proceeds me in death. Should my daughter be added to the deed?
A last will and testament is a straightforward estate planning tool, used to determine the beneficiaries of your assets when you die, and, if you have minor children, nominating a guardian who will raise your children. Wills can be very specific but can’t enforce all of your wishes. For example, if you want to leave…
A Clark County judge has awarded Tony Hsieh’s father and brother administrative duties to begin the process of sorting out the Las Vegas visionary’s vast wealth and estate, after he died last week and left no known will or estate documents.
When something is tailored to one’s needs, everything can go smoother.
No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.
Many people plan their estates diligently, with input from legal, tax and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.
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