About Phoenix, Arizona, And The Role Of Trust Management Attorneys In Wealth Preservation Phoenix, Arizona, is one of the fastest-growing metropolitan areas in the United States and is known for its warm climate, stunning desert landscapes, and vibrant economy. As the fifth-largest city in the country, Phoenix attracts people from all walks of life, [...]
Key Takeaways In Arizona, estate recovery is an administrative process mandated by federal law. Yet Arizona’s state Medicaid program, known as AHCCCS, does not just allow for estate recovery — it aggressively pursues it. Knowledge of this process is key to smart estate planning. Noncompliance with estate recovery results in adverse legal action, including [...]
Key Takeaways Estate recovery is a process where states recoup Medicaid costs from the estates of deceased beneficiaries, impacting inheritance and asset distribution for families. Educating yourself about these laws is essential to making sure your estate planning works for you. What are the most common estate recovery mistakes that cost families thousands? Medicaid [...]
Key Takeaways Trust management is a financial strategy investment that protects assets, provides appropriate beneficiaries trust distribution, and advances individual long-term financial objectives. It’s essential for effective wealth preservation, asset protection, and financial planning. Trusts aren’t just for the ultra-wealthy. Families of all kinds, business owners, retirees, and anyone with a special needs dependent, [...]
Key Takeaways Trust management is essential for safeguarding family assets, ensuring proper distribution to beneficiaries, and maintaining compliance with legal and tax obligations. It ensures that the prosperity and peace of mind that come with family wealth are preserved for future generations. A trust separates the legal ownership of assets from their beneficial use, [...]
Key Takeaways Asking the right questions when choosing a trust management service is crucial for making informed decisions and ensuring effective trust administration. Understanding a provider’s approach can go a long way toward demystifying processes and expectations. Proactively taking on trustee responsibilities, like legal and ethical obligations, will help avoid conflicts and create transparency [...]
Key Takeaways Trust administration in estate planning is essential because it streamlines asset distribution and helps protect your family’s financial future. It offers a clear plan for asset management and protection. By avoiding probate, trusts expedite asset transfers to beneficiaries, reducing administrative delays, legal costs, and stress during emotionally challenging times for your loved [...]
By now you have probably heard that on December 17, 2010, Congress increased the estate tax exemption to 5 million dollars. You may also have heard the new term “portability” thrown about; read that the estate, gift, and GST taxes have once again been “reunified” at the 5 million dollar level; and that this is [...]
If you’re looking for a way to protect your assets from creditors and lawsuits you should consider creating a Limited Liability Company (LLC). An LLC is a business entity that combines the benefits of a business partnership and a corporation and protects your assets while still allowing you to retain control over them. Desirable characteristics [...]
A typical Thursday night finds me meeting with other lawyers and discussing ideas useful in our respective practices. Although always trying to find new ideas to help clients, these meetings, reminiscent of old style writer’s salons, are particularly useful because of the opportunity to exchange views in an open setting. No idea is too simple [...]