Trust law Archives - About Estate Planning https://aboutestateplanning.com/category/trust-law/ Knollmiller & Arenofsky, LLP Thu, 01 Oct 2020 21:32:24 +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

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]]> 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

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]]> 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

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]]> Trusts In Arizona https://aboutestateplanning.com/trusts-in-arizona/ Wed, 20 Jun 2018 12:23:09 +0000 http://aboutestateplanning.com/?p=1399 A trust is an agreement through which assets can be transferred for your own benefit or that of your loved ones upon your passing. A trust has a creator, a trustee and beneficiaries. A trust helps to avoid court involvement in the event of your incapacity or death and is… Read More

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]]> Will My Heirs Have Hurt Feelings Over My Personal Items? Short Answer: Probably https://aboutestateplanning.com/will-my-heirs-have-hurt-feelings-over-my-personal-items-short-answer-probably/ Wed, 23 Apr 2014 22:57:37 +0000 http://aboutestateplanning.com/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

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]]> “Only Older People Need Estate Plans” https://aboutestateplanning.com/only-older-people-need-estate-plans/ Mon, 24 Mar 2014 17:50:50 +0000 http://aboutestateplanning.com/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

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]]> “I don’t need an estate plan since I’m unaffected by the estate tax” https://aboutestateplanning.com/i-dont-need-an-estate-plan-since-im-unaffected-by-the-estate-tax/ Thu, 06 Mar 2014 17:54:09 +0000 http://aboutestateplanning.com/i-dont-need-an-estate-plan-since-im-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

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]]> Estate Planning Mistaken Belief #2 https://aboutestateplanning.com/estate-planning-mistaken-belief-2/ Tue, 28 Jan 2014 22:36:30 +0000 http://aboutestateplanning.com/estate-planning-mistaken-belief-2/ IF I HAVE A WILL, MY FAMILY WILL AVOID PROBATE I am unsure how this mistaken belief ever came about since a Will is almost synonymous with probate. By way of background, using a Will as your primary estate planning document, your estate may be probated. Without a Will, your estate… Read More

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]]> Estate Planning Can Be Intimidating https://aboutestateplanning.com/estate-planning-can-be-intimidating/ Fri, 10 Jan 2014 17:37:47 +0000 http://aboutestateplanning.com/estate-planning-can-be-intimidating/ We avoid what we don’t know. For many financial, insurance and accounting professionals, they feel they ought to know estate planning better than they think they do. They also feel they should be assisting their clients in getting their estate’s in order but due to the professional’s discomfort with estate… Read More

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]]> Question: Does Having a Will Mean You Avoid Probate? https://aboutestateplanning.com/question-does-having-a-will-mean-you-avoid-probate/ Thu, 02 Jan 2014 19:53:40 +0000 http://aboutestateplanning.com/question-does-having-a-will-mean-you-avoid-probate/ Question: Does Having a Will Mean You Avoid Probate? Answer: No, almost by definition, a Last Will & Testament implies that a probate will be needed to administer the estate. The best way to avoid probate is using a revocable trust. Another way to avoid probate, but sometimes causing more… Read More

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