Daryl’s family rushed to the emergency room when they got the call. He’d had a major stroke and was unable to communicate with anyone. His daughter remembered that Daryl mentioned signing estate planning documents. No one knew where he kept them, though, or the name of the attorney he used. Precious moments would have been…
DetailsThe word “dynasty” is all about family. In Dynasty, the dramatic television show from the 1980s, two families feuded over family and fortune. Ancient and modern political dynasties maintained power and control among leaders from one family. In estate planning, the word “dynasty” is used in connection with a trust created to keep money in…
DetailsAutomobiles. Whether you’re a collector or someone who just uses them to get from Point A to Point B, they are a valuable asset. As with all property, cars will be handed down to someone after you pass away. One way to do this is using the Arizona DMV Beneficiary form. What are beneficiary designations?…
DetailsDeborah & Thomas Did Just About Everything Together During Their 42-Year Marriage They ran a successful real estate agency, purchased homes together, and furnished those homes, and bought or leased numerous automobiles. When Deborah passed away last year, Thomas had the job of settling her estate. First, he looked at their joint debts – mortgages,…
DetailsSo, you’ve decided to open a new Arizona business. Congratulations! Before you sell your first widget or help your first customer, though, you need to jump through some hoops. For example, you’ll need to decide which type of business entity you’ll operate. Will it be a sole proprietorship or a corporation? A partnership or a…
DetailsWe don’t like to think about it. But death happens. People of all ages die from accidents, leaving behind friends, family members, and an estate. We all have possession that could make up our estate assets when we pass away. If you haven’t done any estate planning, do you know what would happen if you…
DetailsJon and Margaret W. were what most people would consider well off. They had worked hard, scrimped and saved, and invested wisely to get where they are now. But their careful management did not include estate planning. Unfortunately, when they passed away, much of their wealth disappeared into piles of legal bills and estate taxes.…
DetailsYou may have noticed your neighbor, Clarence, is starting to have trouble taking care of himself. Sometimes he asks you for help, but other times you notice things like his trash piling up by the back door. Or maybe you see that his front door has been left open late at night. It may be…
DetailsJenna’s estate planning attorney suggested she create a living trust. It seemed like the best way for her to pass her property to her heirs. She was confused, however, when her lawyer said she had to ‘transfer’ her real estate to her trust. Wasn’t it enough just to create the trust? No, Jenna needed to…
DetailsIt seems like a great idea. Finding an easy way for your assets to be handed down to your beneficiaries is appealing. Transfer-on-death (TOD) and payable-on-death (POD) designations can do just that. However, you’ll need to know the advantages and disadvantages of using TODs and PODs before using them. Which One Do I Need –…
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