ESTATE PLANNING
It is estimated that only 20% of American have a Revocable living trust, it is important that you have taken the appropriate measures to create the appropriate legal documents…
BUSINESS CREATION
Starting a business is an overwhelming feat, and it starts with ensuring that you have properly created and submitted your business to the correct agencies.
PROBATE
After experiencing the loss of a loved one the last thing that one wants to do is spend hours in court trying to navigate the complicated probate system…
Charitable Remainder Trust
Charitable Remainder Trust A charitable remainder trust can be a powerful estate planning tool. In the right situation, it can provide you with many financial benefits. In this article, we will go over the basics of charitable remainder trusts so you can determine if one is right for you. The Basics A charitable remainder trust is a type of irrevocable trust. It allows you to provide for yourself or a beneficiary and charity. A charitable [...]
Ancillary Probate
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 is necessary when a decedent owns real estate or other titled property (i.e. car, boat, or trailer) in a state other [...]
Common Estate Planning Terms
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 a person leaves behind at their death. Fiduciary Fiduciary refers to an individual who has the legal duty to act [...]
Medicaid Trust
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 is known as the Arizona Health Care Cost Containment System (ACHHS). However, the Medicaid program in Arizona that offers long [...]
More Celebrity Estate Planning Mistakes
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 this article, we will go over some more recent celebrity estate planning mistakes and what we can learn from them. [...]
Beneficiary Deeds-Advantages and Disadvantages
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 deed. How Beneficiary Deeds Work A beneficiary deed, also called a transfer on death deed (TOD), is an estate planning [...]