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Succession planning is a critical step for anyone who owns a business. People need to start thinking about this concept early on in life, similar to every other aspect of estate planning. The succession planning process requires the current owner to identify key...
Trusts are often the best way for Arizona residents to distribute assets without having to worry about the costly and time-consuming probate process. There are many benefits to using a trust in Arizona. For one thing, a trust can offer protection. When someone passes...
Many Sun City residents assume that the only estate planning they need to do is deciding who gets the family home, or other important assets, once they pass away. While writing a will is a crucial part of the estate planning process, it is far from being the only...
Estate planning experts constantly remind us that we should create a will as soon as possible in order to avoid dying without a will. It is important to understand why they say this. If you die without a will, Arizona's intestate laws will determine how your property...
One of the best ways to protect your children's future is to create a will and designate them as beneficiaries. That way, they will be taken care of after you and your spouse are deceased. This may seem simple enough, but the process becomes much more complicated if...
As you start thinking about getting your affairs in order, you may hear people talk about "probate," or the legal way to transfer property after death. Learning the basics of trust and probate administration can help you easily navigate the estate planning process in...
One of the biggest misconceptions people have about estate planning is that it is only for the wealthy. However, even people with only a few assets should create a will to settle their estates upon their death. Creating a will is not for your benefit, but rather for...
As we get older, estate planning becomes an even more important necessity. Without a solid plan in place to distribute your assets, your loved ones may not have access to your property upon your death. Legendary musician Billy Joel, at the age of 68, recently...
Arizona residents who have started the estate planning process may be concerned that they will not be able to make changes to their trusts once they are finalized. Fortunately, most trusts are both revocable and amendable, so you may be able to make multiple changes...
As you start thinking about the future, you may start to plan the distribution of your property to your beneficiaries when you pass away. However, many people make the mistake of ignoring seemingly small or insignificant pieces of personal property. If you want your...
