Despite that fact that most people recognize the need to have an estate plan in place, most Americans do not have one. One of the primary reasons why the average person puts off creating an estate plan is the fact that estate planning can be intimidating and confusing to the uninitiated, which … [Read more...]
What Type of Life Insurance Do I Need?
For most people, life insurance plays an integral role in their estate plan. The type and amount of life insurance that your purchase, however, will depend on several factors. The first step in deciding which type of life insurance you need and how it fits into your estate plan is to lean more about … [Read more...]
Start 2022 the Right Way
The New Year gives us an opportunity to start fresh. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your goals and concerns. If you already have one, the New Year gives you an opportunity to review it to ensure that it … [Read more...]
Estate Planning For Women: Is It Different?
Every adult can benefit from having at least a basic estate plan in place. For women, however, estate planning can take on a heightened importance for several reasons. The Tucson estate planning lawyers at Morris Hall, PLLC explain why estate planning is different for women. Why Is Estate … [Read more...]
5 Celebrity Estate Planning Disasters
A common reason people offer for not having an estate plan in place is the belief that one is only needed if you have considerable assets. That might lead you to believe that people who do have substantial assets would have a well thought out plan in place. That, however, is not always the case. In … [Read more...]
Problems with Joint Tenancy
Although joint tenancy offers some short-term conveniences, in the long run it poses a host of problems that can cost you and your loved ones multiple times the expense and headaches that you thought you were avoiding. For the vast majority of American couples, “till death do us part” also means, … [Read more...]
It’s Better to Give, Especially This Year
Normally, you must itemize your deductions in order to benefit from them. In 2020, the standard deduction amount is $12,400 for individuals and $24,800 for married couples filing jointly. But this year, you can get a charitable deduction even if you don’t itemize. Read on to learn more. … [Read more...]
What is a Power of Attorney?
A Power of Attorney is a document in which the “Principal” gives powers, duties, and responsibilities to the “Agent” who acts for the Principal under certain circumstances. The Power may be over health matters (a Health Care Durable Power of Attorney – also known as a Health Care Proxy or Advance … [Read more...]
Updating Your Plan: Powers of Attorney
As we enter the new year, it’s a good time to think about updating your plan. This includes your entire plan, including Powers of Attorney. Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial … [Read more...]
Tax Planning for 2021
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2021 is just starting, it’s not too early to think about planning for whatever it may bring your way. … [Read more...]
