Apparently the suspicion surrounding end-of-life planning is not as far in the past as we might have hoped. The recent Medicare regulation which would have allowed the government to pay doctors who advise patients on options for end-of-life care was rescinded only days after it was enacted. Why such an abrupt turnaround? The reason [...]
I’ve been a practicing lawyer in Scottsdale for over 30 years and I have never witnessed a fire-storm like the rage that has engulfed the probate system in the past two years. I’d like to bring some sanity to the story and suggest a sensible solution. If you haven’t read the horrible stories or [...]
By now everyone knows that the President has signed a tax bill. The question now on everyone’s mind is exactly what did he sign, and what does it mean to you? Lower payroll taxes in 2011 and the historically low rates of taxes on dividends are good for all of us (not so good [...]
Do I provide what my clients really want? It has been suggested that estate planning lawyers rely too heavily on what they think clients want, providing services that are the easiest and most economical to give, rather than listening to what our clients really want. As a result we give our clients hefty estate planning [...]
Much has been written and discussed about the absence of an estate tax in 2010. The debate about what Congress may do rages on and is spiced up with stories about the death of George Steinbrenner and others like the Texas billionaire Dan Duncan, but the little publicized truth is that the 1 year [...]
I recently came across a New York Times article that reminded me of an all too common experience I encounter in my estate planning practice. In the article author Ron Lieber recounts his experiment with 4 different Do-It-Yourself will drafting software programs and the outcome. Although Lieber goes through the pros and cons of [...]
No creditor protection is available when property passes by joint tenancy. Creditors come in many shapes and sizes these days. Jury verdicts in even the most common accidents easily exceed insurance limits. Aging survivors are more susceptible to lapses of concentration while driving or otherwise. Why unnecessarily expose all of the survivor’s assets to [...]
In our planning process, we subscribe to the following definition of “estate planning”: To control my property while I am alive and well; to provide for me if I become disabled; and to give whatI have, to whom I want, when I want, the way I want; all at the lowest possible overall cost. We [...]
Qualified assets may be the most heavily taxed assets you own and how to turn the IRA rules to your advantage. The full value of a qualified retirement account is part of your taxable estate at rates beginning at 34% and increasing to a maximum of 55%. In addition, unless you make the proper [...]
Most of us don’t plan to fail, we fail to plan. Dwight Eisenhower said, “when preparing for battle, I always found plans useless, but planning indispensable.” If you can envision it, we can make it happen efficiently with a minimum of delay, tax, and cost. Our goal is for you to control your property while [...]