Is my estate taxable when I die?

This is a pretty common question. I think there is a lot of misconceptions that an inheritance is taxable. For the most part it is not. Arizona doesn’t have an inheritance or death tax. There is a federal estate and gift tax but unless your estate exceeds 11 million dollars… Read More

Using The Online Estate Planning Tool On Knollmiller & Arenofsky, LLP’s Website

Although many websites such as LegalZoom offer online estate planning services, however, they almost always fall short in catering to a person’s needs. In other words, it is never the same as working with an actual estate planning law firm to get a quality custom made estate plan. A benefit… Read More

Creating Opportunities Assisting Your Clients With Their Estate Plans

When you assist your clients with their estate plans you not only assist them with obtaining their estate planning documents, but also get to see their whole financial picture giving you the information you need to help them with their financial goals. In addition, you can gain perspective into their… Read More

The Necessity Of Probate In Arizona

Having assets in your name above a certain financial limit at the time of death leads to the estate going through probate in Arizona. Revocable trusts are usually recommended as a vehicle to avoid probate. Assets that do not pass automatically at the time of death such as joint tenancy… Read More

Digital Assets Part Of An Estate Plan

Recently Arizona passed a law that greatly increases individuals’ ability to control what happens to their digital assets after they die.  This has been passed in many states but in Arizona it can be found in Arizona Revised Statutes §14-131111, 14-131112 and 14-131113. We can’t tell you how many times the… Read More

Do Recent Tax Changes Pose A Threat To Estate Plans?

Not really according to a new survey from TD Wealth.  The survey found that 44% of estate planning professionals cite family fights as the biggest threat to estate planning in 2018.  Only 25% cite tax reform with the remaining 12% considering the volatility in the stock as the next largest… Read More

Asset Protection Laws In Arizona

The need for asset protection planning arises when you have to achieve your goals and protect your family wealth and assets from the claims of creditors. The tools used for asset protection planning may be used alone or paired with some other tools and strategies in order to achieve the… Read More

Will My Heirs Have Hurt Feelings Over My Personal Items? Short Answer: Probably

“The biggest estate-planning mistake is that people think it’s only about the money,” said Marlene Stum, a professor at the University of Minnesota and author of the “Who Gets Grandma’s Yellow Pie Plate?” workbook and website. “When it comes to their personal possessions, they say, ‘It’s just stuff.’ ” In my… Read More

“Only Older People Need Estate Plans”

Français: Enterrement à (Photo credit: Wikipedia) It isn’t a surprise to anyone that those typically motivated to do estate planning are those that have their mortality staring back at them. Examples include clients preparing for travel, life-challenging illnesses or individuals in advancing years. I don’t need to remind anyone that… Read More