Serving Queen Creek, Gilbert, Mesa, San Tan and the entire East Valley
When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure your estate planning is up to date.
Locking up certain important documents and valuables in a bank vault could turn into a headache for you or your heirs.
Most people have heard that each individual is allowed to gift $15,000 per year to another person without paying a gift tax. However, exactly what the gift tax is, and the consequences of going beyond $15,000, are less clear.
Life is messy sometimes. Divorce, bankruptcies and lawsuits happen. They can potentially wipe out the inheritance you’ve carefully set aside for your loved ones. However, there are many trust options to help keep life from ruining your legacy.
What Is Cryptocurrency? Why Has It Been So Popular?
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Your house might be your single most valuable financial asset. So you want to make sure you can give it to those you love when you die, without giving up the farm. That can be tricky.
So, what happens to your estate if you don’t have a will nor any children?
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.
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