At a recent symposium, the presenter described the almost magical way the father of our country turned his bequests of personal property into a legacy that lasted generations. He described the portion of Washington’s Will that bequeathed his swords to his nephews. Instead of a simple listing of the items and the recipients, he [...]
I know this title seems strange. Almost everyone thinks they need an estate plan to insure the comfortable transition of their money. With few exceptions, I feel that my clients are burdened with the prospect of making decisions about how to pass along their accumulated wealth. It drives home the point of why the [...]
In my last blog post I described the emotional and practical reasons why there is so much probate litigation and how to hire an experienced probate litigator; in this post I’ll mention some common contested probate allegations and measures that can be taken to avoid them or to keep them from spiraling out of [...]
Probate litigation is a burgeoning and fertile practice area for lawyers. There are many reasons why probate cases spawn litigation, but most grow from inadequate or defective estate plans nurtured by emotional dissatisfaction or greed. As an estate planner since 1979, I encourage my clients to create an estate plan that takes into consideration [...]
Does never paying income tax on your retirement income sound too good to be true? Well believe it, because on or after January 4, 2010, anyone can convert their traditional IRA to a Roth IRA, pay the taxes in 2 installments in October 2011 and October 2012 and never again pay income tax on [...]
On July 13, 2009 Arizona governor Janet Brewer signed HB 2616 into law. The law, hailed by the right to life movement as a great victory, intrudes on your right to privacy and injects the state into the midst of the dying decision of every Arizonan without a living will that expresses the intention [...]
If you are currently or soon may be serving as the trustee of an irrevocable trust you should be aware that the Arizona Trust Code (ATC), which became effective January 1, 2009, imposes certain new obligations on trustees of irrevocable trusts. Prior to January 1, 2009, ARS §14-7303 required the trustee to provide beneficiaries [...]
I am a trust based estate planning attorney. That means for a variety of reasons, I believe that most clients are best served if the centerpiece of their estate plan is a trust. However, that said, a friend who recommends my services to his clients recently complained that after extolling the virtues of trusts [...]
I am frequently asked why I emphasize keeping estate plans updated. There are actually two answers to this question; the standard answer, and a more practical reason. Both answers are true, but one is much more personal. The standard answer to why update your estate plan comes in five related parts: Laws Change. Federal [...]