Most people who engage in estate planning simply want to make sure that their loved ones are financially cared for after their passing. There are many ways to do this, of course, which is why individuals who find themselves in the midst of this process should...
trusts
When do trusts no longer function?
The creation of a trust can have a profound impact on its identified beneficiaries. If handled correctly, these estate planning tools can provide financial resources for years to come. The assets contained within those trusts can provide money needed for a...
Transfer on death accounts may play important role
Many Arizonans share accounts with a spouse or other loved one. While these accounts can become subject to legal proceedings like divorce, they can also play a pivotal role in estate planning. Generally speaking, a jointly-held account will transfer to the other owner...
Fashion icon may have created pet trust for beloved cat’s benefit
Pets can become an integral part of our families. Millions of Americans treat these animals like their own children, pampering them and providing them with the utmost care. While humans have a longer life expectancy than most pets, oftentimes owners pass away before...
Estate planning is important for everyone
Estate planning is often seen as a way to dictate how assets will be distributed to one's family upon death. This can sometimes be a pretty straightforward process, especially when assets are to be divided amongst a spouse and children. Since this is the prevailing...
Placing a home in a revocable or irrevocable trust
There are many issues to consider when estate planning. This is especially true to those who have a significant number of assets. For these individuals, merely identifying and valuing all those assets can be a headache. Of course, not everyone has vast amounts of...
Media mogul found competent enough to change estate plan
Effective estate planning is crucial to avoid probate litigation. Those who have ambiguous or vague plans can see their estates' financial health deteriorate significantly while litigation is drawn out. Such legal action can also lead to familial strife that can last...
Reconsidering an estate plan after divorce
Getting divorced is no easy matter. While it can leave some individuals feeling emotionally devastated, others may be excited to start a new chapter in their lives. Regardless of which side of the spectrum on which a new divorcee falls, the stark reality is that...
Contracts may affect estate planning
Estate planning can be as simple or as complicated as is necessary to meet an individual's identified needs. For some, a basic will with easily understood provisions is enough to bring their estate planning goals into reality. Others, though, require much more...
Estate planning: the irrevocable trust
Trusts are common tools used in estate planning and can be utilized to distribute assets with certain conditions attached to them. For example, assets maybe left to a beneficiary with strict rules that the proceeds of the assets contained within the trust can only be...