This was a column in a local paper that got me thinking that this is actually a very commonly asked question. First, it doesn’t all go the State. It may but this is very unlikely. Basically, the State of Arizona has written a Will for you if you fail to… Read More
posted on December 13, 2013
“I thought a trust avoided probate!”
This question usually gets asked by the family after a loved one has died and they are told they have to go through probate. How did this happen? Yes, one of the benefits of a revocable trust is avoiding probate. The explanation everyone has heard is because the assets are… Read More
posted on November 13, 2013
Advantages vs. Disadvantages of a Revocable Trust
Advantages of a Revocable Living Trust Avoidance of probate. In particular, a revocable living trust can avoid expensive multiple probate proceedings when you own real estate in several different states, as well as the publication of the otherwise private financial details of your estate. Avoidance of conservatorship. A revocable trust can avoid… Read More
posted on November 6, 2013
How Much Does the Government Take When you Die?
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 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 January 25, 2013
Is A Trust Really Necessary?
This question gets asked a lot. Everyone should have an estate plan, meaning a Will, powers of attorney, and similar. But when should you have a trust? The benefit of revocable trust include a tool to assist us in the event of our incapacity. Instead of going to court to… Read More
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