This question gets asked a lot. Sometimes it is asked if the Feds or Arizona tax you when you die? Sometimes it is asked if the State gets part of your estate when you die? Mostly it is thought of in terms of probate whether you have a Last Will… Read More
posted on October 29, 2013
Recent Trends Part III
Another trend in living trust and estate planning is less concern about probate and more concern about possible incapacity. The “typical” client 20 years ago was very concerned about ending up in probate after their passing. I am not sure if this came from all the advertised estate planning seminars that used this to scare people into… Read More
posted on October 24, 2013
Trends in Living Trusts Part II
Another trend in Living Trusts, or better said, Estate Planning, are IRA Qualified Trusts. Very often a individual does not want to leave a large IRA to their children or other heirs. The concern is they will cash it in and pay the large tax bill that will surely come when the IRA is… Read More
posted on October 18, 2013
Trends in Living Trusts
The biggest trend is “I want to protect my child’s inheritance.” Can you imagine leaving your hard earned estate to a child when you die and they get into a messy divorce, lawsuit or they just spend it unwisely and lose everything? What a waste. What if you could leave… Read More
posted on September 12, 2013
If I have a Will does it means I will avoid Probate?
No, a Will by its very nature implies Probate. Probate is a procedure to administer the estate of a decedent. Even if you do not have a Will, your estate will be administered according to the laws of your home state. This procedure for estates that do not have a… Read More
posted on September 5, 2013
Estate Planning Basics
ESTATE PLANNING BASICS Death is inevitable. There are some steps and planning we should take to put our affairs in order. This can be accomplished through proper and effective estate planning. Estate Planning provides peace of mind by knowing that your desires are recorded and your property will be disposed of as… Read More
posted on August 13, 2013
What is a Resulting Trust
By Wagner Sidlofsky LLP “I don’t care who paid for the property – it’s in my name.” But that’s the middle of the story – let’s start at the beginning.Situations arise where legal title may be in one person’s name , but the courts presume there was a decision to create… Read More
posted on July 26, 2013
Does the Estate Tax Really Hurt Small Businesses and Farmers?
Estate tax critics very often say the estate tax hurts farms and family businesses. I certainly don’t want to enter the tax vs. limited tax debate so I will offer no opinion here but the dialogue should be with the facts, not statements that are repeated so often they get… Read More
posted on July 19, 2013
Benefits of receiving inheritance in trust over outright distribution
Leaving an inheritance to a beneficiary outright makes the money subject to the person’s creditors, divorcing spouses and of course their own lack of maturity with the funds. By leaving the inheritance in trust, these concerns can be addressed. While the funds for this beneficiary are held in trust for… Read More
posted on July 10, 2013
What is an IRA Trust?
A qualified IRA trust allows your individual retirement funds to “flow” through a special Trust to assure monies are paid to beneficiaries over their respective lifetimes. This trust is designed so that the beneficiary is entitled to withdraw from the trust only the minimum required distribution under the Internal Revenue… Read More
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