Ancillary Probate Ancillary probate is a type of secondary probate that some may find necessary. In this article, we will go over what an ancillary probate is and how they work. What is an Ancillary Probate? An ancillary probate is a secondary probate proceeding. This is in addition to a primary probate proceeding. One [...]
Common Estate Planning Terms There are certain common estate planning terms that you should be familiar with as you embark on your estate planning journey. Below you will find a categorical list of these common estate planning terms. General Estate Planning Terms Estate An estate is the total value of assets and debts that [...]
Medicaid Trust A Medicaid trust is a useful tool for Medicaid planning. A Medicaid trust is an irrevocable trust that must follow certain guidelines to be valid. In this article, we will go over the basics of Medicaid trusts. Qualifying for Medicaid Each state has its own Medicaid systems in place. Arizona's Medicaid program [...]
More Celebrity Estate Planning Mistakes Many enjoy reading celebrity estate planning mistakes because they have a hard time believing people with so much money and so many resources available to them can make such mistakes. But their mistakes can be simple, practical ones. We should be aware of these and learn from them. In [...]
Beneficiary Deeds-Advantages and Disadvantages Beneficiary deeds are a type of estate planning document. Like any estate planning document, there are both advantages and disadvantages to using one. What works best differs from person to person, depending on their situation. In this article, we will go over the advantages and disadvantages of using a beneficiary [...]
AB Trusts AB trusts were originally created with the main purpose of helping to reduce estate taxes. In this article, we will go over how AB trusts work, additional benefits they offer, as well as drawbacks you should be aware of. Original Purpose AB trusts got their start under old estate tax laws. In [...]
Common Probate Misconceptions Probate is the court-supervised process of distributing someone’s assets after they pass. The process can be confusing, and most people know very little about it. Due to this fact, there are a lot of misconceptions about the probate process. In this article, we will clear up 7 of the most common [...]
You May Need to Update Your Estate Plan One of the top estate planning mistakes you can make is failing to update your estate plan. Not making the proper updates can wreak havoc on the best thought out plans. In this article, we will go over six reasons you would need to update your [...]
Creating a Corporation A corporation is a type of way to organize your business entity. Depending on your business situation it could be beneficial to create one. In this article, we will go over the benefits and disadvantages of corporations and how to create one in the State of Arizona. Corporation Benefits There [...]
Why Estate Planning Is Important Estate planning is important as a component of your financial life. But many people put it off because the topic upsets them or they think they are not rich enough or old enough to worry about it. But it is something vital for everyone to take care of. In [...]
