5 Things to Talk About with Your Family
You intend to pass along your wealth through your estate plan, but what about your wisdom? Ensuring you accomplish both calls for a family meeting to have a conversation about your money, your legacy, and your core principles. Working with your estate planning attorney in collaboration any other advisors you have in your corner can […]
Where There’s a Will, There’s a Way… and It Might Be Probate Court
Preparing a Last Will and Testament (more commonly known as a will) is important, but many people don’t understand what a will does and doesn’t do. The biggest assumption people make is that by having a will, you avoid probate, the legal process that transfers the decedent’s assets to the beneficiaries listed in the will. […]
Advanced Directives Registry: A Great Way to Store Your Documents
A couple of the documents I prepare as part of my services are the Health Care Power of Attorney and the Living Will. These documents are important to outline who will make medical decisions on your behalf when you are unable to, as well as your end-of-life instructions. However, my clients always ask the important […]
Don’t Make These Mistakes with Your Beneficiary Designations
There are financial accounts such as life insurance policies, 401k, IRA’s, etc.that allow you to choose the primary beneficiary(ies) and contingent beneficiary(ies), which means upon your passing the funds from these assets will pass directly those individuals listed.I always tell my clients to check the designations on these accounts to ensure: 1)They have a beneficiary(ies) […]
Putting Rental Properties into a Limited Liability Company
Putting an investment or rental property into a limited liability company (LLC) can be a great way to protect your personal assets from any liabilities of the property(ies). An LLC is a legal business entity. If someone sues an LLC, in most cases, only the assets of the LLC will be subject to liability in […]
6 Benefits of Having an Estate Plan
Many people don’t realize that when they prepare an estate plan, it’s not really for them but for their family and loved ones. Here are some of the benefits of having an estate plan prepared: 1. Plan for incapacity. While estate planning, you can make arrangements in case of mental or physical incapacity. Living wills […]
Why Unmarried Couples Need an Estate Plan
Today I spoke with someone whose domestic partner of 24 years died prematurely at 62. They had no estate plan, and that made me think about how many couples out there are in the same situation. There are joint assets and separate assets to consider. Unfortunately, Arizona law does not provide for a domestic partner, […]
How to Choose a Guardian for your Children
I hear it all too often: “My spouse and I haven’t done our estate plan because we can’t agree on a guardian for our kids if something happens to both of us.” What? So instead of doing something, they choose to do nothing. This opens the door to a free-for-all for family and/or friends to […]
The One Thing You Can’t Forget Before Leaving for Vacation Without the Kids!
Yes, you’re going on vacation without the kids. It’s your chance for some much needed time alone to relax and enjoy each other’s company. But before you go, do you have everything in order? I’m not talking about a list of emergency contact information, doctors’ names, or even your last will and testament. I’m talking […]