A well thought out estate plan does much more than simply decide what happens to your estate assets at the end of your life. It also protects those assets and helps them grow over the course of your lifetime. One of the many factors a successful estate plan must take into consideration is the impact … [Read more...]
Asset Protection – It Works
If I told you an inheritance can be left to whomever you want, without the fear that it could be taken by a lawsuit, bankruptcy or even divorce, would you want that benefit included in your plan? In today’s litigious society, asset protection is a critical component in anyone’s estate plan. Our … [Read more...]
Happy 100th Birthday to the Federal Estate Tax
Yes, the Federal Estate Tax has turned 100. In 1916, the members of congress voted in the Revenue Act of 1916. This introduced the modern-day income tax and also included what is known today as the Federal Estate Tax. For 2016, that tax carries an exemption of $5,450,000 per individual. Over the … [Read more...]
Community Property. Is Arizona a Good State To Die In?
If you must choose between having your estate plan prepared in a community property state or a separate property state, you should choose community property every time. Arizona is one of only nine community property states. The other community property states are: 1) California, 2) Nevada, 3) New … [Read more...]
Estate Planning and Taxes – One Size Fits All?
Taxes are a big reason to plan. But it is not the only reason. The key thing is to have an estate plan that deals with the issues and goals that are personal to you. Some people have taxable estates, and most will not. Some people have children, and some won’t. Some people are not married, in … [Read more...]
A Life with Alzheimer’s
Alzheimer’s disease and other forms of dementia have a devastating impact on people’s lives. According to the World Alzheimer Report 2015, there are over 46 million people suffering from dementia. That is a staggering figure. Even worse is the future view – it is estimated that there will be over … [Read more...]
Who Needs an Estate Plan?
The simple answer is everyone. Once you understand the need for estate planning, it’s important to find the right attorney. Would you go to a patent attorney to file for divorce? Of course not, because the patent attorney does not practice divorce law and is not keeping up with family law … [Read more...]
Some of the Most Interesting Gifts
Robin Williams is blocking an Aladdin sequel even after he died. His will has provisions that Disney cannot use his voice from outtakes from the original movie until 25 years after he passed (so the year 2039!). When drafting an estate plan (a trust or a will), there are countless ways to … [Read more...]
Death & Taxes: Plan for Both
Most folks don’t look forward to planning for two of life’s guarantees: death and taxes. However mundane or morbid you view this task, there is planning to be done no matter what your station in life. When properly planned the harshness of both death and taxes can be mitigated. Through my … [Read more...]
We Must Be Shopping at Different Places
The Social Security Administration (“SSA”) recently has reported that there will be no cost of living adjustment in 2016 for Social Security recipients. Their reasoning being that the cost of living has increased, so one’s 2016 dollar will be the same as it was for 2015. As a Social Security … [Read more...]
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