Minimizing Beneficiary Squabbling

We have all seen it. The media likes to pass along juicy stories of actors that either had no wills or their heirs are fighting tooth and nail over the inheritance. But how do we stop any infighting among our own beneficiaries when we pass? Most families get along great… Read More

Do ERISA Retirement Plans Bar A Creditor From Garnishing The Account Even If The Transfer Was Fraudulent?

Believe it or not the answer is yes. Okay, some very brief background. ERISA, i.e. 401(k) plans, are known to be pretty solid creditor protections for anyone that has such a plan. IRAs as well but not quite as strong as ERISA plans. Anytime a financial adviser is discussing the… Read More

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

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

“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

“I don’t need an estate plan since I’m unaffected by the estate tax”

While this is a common misconception, I believe it mixes up two ideas, estate planning and estate tax planning. Estate tax planing is actually a small, but important, part of the overall estate planning process. Estate planning is about making sure your estate is in order and passes as you… Read More

Revocable Trusts, and Living Trusts, and Irrevocable Trusts! Oh, My!

But wait, there’s more; there’s Loving Trusts, Family Trusts, Grantor Retained Trusts and many more. Let’s start with revocable vs. irrevocable trusts. These are exactly what they say. The revocable trust can be changed, amended, and even thrown away. The irrevocable trust however rarely can be changed except for very… Read More

Estate Planning Mistaken Belief #3

“Putting my child’s name on an asset avoids probate” This is how the conversation usually goes: “someone told me if I put my child’s name on my bank account, upon my death it goes to that child and I avoid probate.” This particular myth is a real “land mine” waiting… Read More