Many people know that inheritance planning is important; however, they don’t yet have a plan in place because they are operating under the belief that they don’t need one yet. If you fall into that category, you may be surprised to learn that inheritance planning should start much earlier than you likely thought. In fact, it is never too early to get started on your inheritance plan because a well thought out plan will do much more than just govern the distribution of the inheritance you will … [Read more...]
Spring Summit 2023: Celebrating 30 Years of Indispensability in the Windy City
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning held its semi-annual conference providing education and learning for and inspiring excellence in its Members. Read on to learn more about the unique experience at the conference. … [Read more...]
What Is the Process for Contesting a Will?
The Purpose of Probate The legal process that typically follows the death of an individual is referred to as “probate” and is intended to serve several functions, including the authentication of a Last Will and Testament submitted on behalf of the decedent. If the Will is authenticated, the terms of that document will then be used to determine how the decedent’s estate assets are distributed. Anyone in possession of an original Will should give that Will to the Executor of the estate … [Read more...]
Is an IRA Taxable as Part of an Estate?
What Happens to an IRA When the Account Owner Dies? When a participant in a retirement plan dies, benefits the participant would have been entitled to are usually paid to the participant’s designated beneficiary in a form provided by the terms of the plan (lump-sum distribution or an annuity). Many retirement plans require the account owner to name a spouse as the beneficiary unless he/she signs a form allowing the owner to name someone else as the beneficiary. The Employee Retirement … [Read more...]
What Is a HIPAA Release?
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...]
What Happens If a Beneficiary Dies During Probate?
Despite the numerous rules and procedures designed to help the probate process run smoothly, something unexpected inevitably comes up that causes a glitch in the process. For example, what happens to the inheritance of a beneficiary who dies during the probate of an estate? The Phoenix probate attorneys at Morris Hall PLLC explain who ultimately ends up with the inheritance if the intended beneficiary passes away during probate. An Overview of Probate If you have never been involved in the … [Read more...]
Arizona Probate: 10 Steps
When a loved one passes away, the survivors are often incapable of focusing on much else for some time afterward because of their grief. For one person, however, that grieving process must be cut short because he/she needs to focus on the legal issues related to the decedent’s death. That person is the Executor of the estate and was appointed by the decedent in his/her Last Will and Testament. The Executor must find a way to focus on the administration of the decedent’s estate, a process … [Read more...]
How to Be a Long-Distance Caregiver
When an elderly family member (or loved one) reaches a point at which care is necessary, most of us want to be the one to provide that care. If you happen to live far away, however, caring for your loved one can be challenging. With planning and vigilance, it is possible to be a long-distance caregiver though. A Phoenix elder law attorney at Morris Hall PLLC discusses how to be a long-distance caregiver. Tips for Being a Long-Distance Caregiver Once upon a time, it was unusual for an adult … [Read more...]
What Type of Life Insurance Is Right For My Estate Plan?
For most people, life insurance plays an integral role in their estate plans. The type and amount of life insurance that your purchase, however, will depend on a number of factors. The first step in deciding which type of life insurance you need and how it fits into your estate plan is to learn more about the different life insurance options available. To help get you started, our estate planning attorneys at Morris Hall, PLLC explain the most common types of life insurance. Life Insurance … [Read more...]
How Much Power Is in a Power of Attorney?
You may already be familiar with the basic concept behind a Power of Attorney. In fact, you may have already executed a Power of Attorney (POA) and/or been named as the Agent under a POA for one reason or another that is unrelated to your estate plan. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. One reason for that is that all too often the person creating the POA does not truly understand the power and authority conveyed in the document. To make … [Read more...]
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