Arizona has become one of the more popular destinations for retired adults. There are many snowbirds in Arizona who spend the colder seasons in Arizona and the remainder of the year in the state where they lived and worked previously. There are also people who work...
Sun City Estate Planning Blog
What is a power of attorney?
Creating your estate plan involves more than just saying who gets which assets after you’re gone. A primary component of a plan is setting up guidelines for healthcare and finances if you’re incapacitated. This is done by setting up power of attorney designations. The...
Understanding Ancillary Administration in Sun City
Ancillary administration in Arizona comes into play when someone passes away while their ownership of property in more than one state remains intact. This secondary probate procedure is necessary to properly distribute or transfer the deceased's assets in Arizona if...
Can I have more than one trustee in Arizona?
A trustee is a person responsible for managing and distributing the assets held in trust according to the terms laid down by the grantor. That means that the trustee plays a critical role in safeguarding the interests of the trust’s beneficiaries, as well as making...
How many adults do not have a valid estate plan?
Most adults would agree with the claim that estate planning is a smart and necessary step for someone to take. They know that an estate plan is how someone chooses a guardian for their children and beneficiaries who will receive their assets when they die. They may...
What are the benefits of charitable giving via an estate plan?
One of the many reasons that people put together an estate plan is that they have wishes that extend beyond just passing assets to their closest family members. Leaving some of their personal resources to a charitable cause is a common motivator for testators. They...
5 times when you need to update your estate plan
An estate plan needs to be updated over time. Ideally, people will make a plan long before their family needs to use it. They then have to make adjustments and updates as the years go by to ensure that it remains current. One way to better ensure that documents remain...
How to prepare for a smooth probate process
For some estates in Arizona, probate oversight is inevitable. The valuable property that someone leaves behind, including real estate that they may own, may necessitate oversight from a probate court as it is managed by an estate administrator. It isn't always...
Why New Homeowners Should Create An Estate Plan
Becoming a homeowner is a huge accomplishment – but it also comes with a lot of responsibilities. One of those responsibilities that may not be immediately apparent is the need to create an estate plan (or update the one you already have). Not only is a home a very...
The impact that strategic gifts can have on a large estate
When someone has significant personal property in their name, their estate planning needs will be different than those with fewer personal assets. They need to worry about taxes, outside claims against their estate and how loved ones might misuse a large inheritance....