James G. Knollmiller Archives - About Estate Planning https://aboutestateplanning.com/category/james-g-knollmiller/ Knollmiller & Arenofsky, LLP Thu, 08 Aug 2019 22:19:38 +0000 en-US hourly 1 Minimizing Beneficiary Squabbling https://aboutestateplanning.com/minimizing-beneficiary-squabbling/ Wed, 07 Aug 2019 15:41:47 +0000 http://aboutestateplanning.com/?p=1448 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

The post Minimizing Beneficiary Squabbling appeared first on About Estate Planning.

]]> Is My Children’s Inheritance Taxed? https://aboutestateplanning.com/is-my-childrens-inheritance-taxed/ Wed, 07 Aug 2019 15:31:14 +0000 http://aboutestateplanning.com/?p=1446 The general answer is no. The IRS doesn’t allow much to go untaxed, but most inherited assets are the exception (in Arizona at least). It does not matter whether the beneficiary received real property, stock or cash. Nor whether he or she received the inheritance via a Will or a… Read More

The post Is My Children’s Inheritance Taxed? appeared first on About Estate Planning.

]]> Large Personal Injury Settlements https://aboutestateplanning.com/large-personal-injury-settlements/ Wed, 12 Dec 2018 17:42:34 +0000 http://aboutestateplanning.com/?p=1424 As many of you know, we handle important personal injury cases that frequently have large settlements for the clients. Being an estate planning and estate administration firm helps those that receive these settlements in several ways. Let me briefly touch on a few matters faced by these clients upon receipt… Read More

The post Large Personal Injury Settlements appeared first on About Estate Planning.

]]> Now What? The problem with having an A/B trust https://aboutestateplanning.com/now-what-the-problem-with-having-an-a-b-trust/ Wed, 12 Dec 2018 17:07:36 +0000 http://aboutestateplanning.com/?p=1420 Nothing is worse than having your estate planning attorney advise you one way then change their mind the next. Well, we are doing it again. Before when the estate tax applied to many more people, it was important to create an A/B trust. Essentially this meant that a married couples’… Read More

The post Now What? The problem with having an A/B trust appeared first on About Estate Planning.

]]> Taxes on Inheritance https://aboutestateplanning.com/taxes-on-inheritance/ Wed, 12 Dec 2018 16:24:35 +0000 http://aboutestateplanning.com/?p=1418 I have addressed this in prior blog posts but it bears revisiting this topic since this comes up frequently in my meetings with clients. The question is typically asked this way: “Will my heirs have to pay taxes on the inheritance I leave them?” or something similar. Let me start… Read More

The post Taxes on Inheritance appeared first on About Estate Planning.

]]> Business Succession Planning https://aboutestateplanning.com/business-succession-planning/ Tue, 26 Jun 2018 09:49:57 +0000 http://aboutestateplanning.com/?p=1416 Business succession planning is the process through which new owners are identified to replace the current owners when they leave, retire or pass away. New owners often include internal people, either employees or family members, to fill the important positions in the company. Transferring A Business To Heirs A revocable… Read More

The post Business Succession Planning appeared first on About Estate Planning.

]]> Do ERISA Retirement Plans Bar A Creditor From Garnishing The Account Even If The Transfer Was Fraudulent? https://aboutestateplanning.com/do-erisa-retirement-plans-bar-a-creditor-from-garnishing-the-account-even-if-the-transfer-was-fraudulent/ Thu, 24 May 2018 18:49:25 +0000 http://aboutestateplanning.com/?p=1363 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

The post Do ERISA Retirement Plans Bar A Creditor From Garnishing The Account Even If The Transfer Was Fraudulent? appeared first on About Estate Planning.

]]> Is My Estate Taxable When I Die? https://aboutestateplanning.com/is-my-estate-taxable-when-i-die/ Thu, 03 May 2018 17:11:06 +0000 http://aboutestateplanning.com/?p=1359 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

The post Is My Estate Taxable When I Die? appeared first on About Estate Planning.

]]> The Necessity Of Probate In Arizona https://aboutestateplanning.com/the-necessity-of-probate-in-arizona/ Mon, 16 Apr 2018 10:05:52 +0000 http://aboutestateplanning.com/?p=1326 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

The post The Necessity Of Probate In Arizona appeared first on About Estate Planning.

]]> Digital Assets Part Of An Estate Plan https://aboutestateplanning.com/digital-assets-part-of-an-estate-plan/ Wed, 04 Apr 2018 20:53:07 +0000 http://aboutestateplanning.com/?p=1297 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

The post Digital Assets Part Of An Estate Plan appeared first on About Estate Planning.

]]>