Estate Planning
Probate in Arizona- What to Know
What is Probate? Probate is the legal process of administering a person’s estate after their death. During the court-supervised probate process, the court validates the will, and the deceased’s property is transferred to the heirs. The primary purpose of probate is to prevent fraud after someone’s death. When is Probate Required in Arizona? Probate…
Read MoreReasons for a Sub-Trust
A sub-trust is a trust within a trust. Typically, sub-trusts come into being upon the happening of an event. Usually, one single trust exists during the lifetime of both spouses, and various sub-trusts come into existence after the death of one spouse. There are a variety of sub-trusts, and the rules around them are complicated.…
Read MoreEstate Planning for LGBT Couples
Estate planning is vital for all individuals, but especially gay couples who face unique estate planning concerns. It is important for LGBT couples to work with a Phoenix attorney knowledgeable about the potential pitfalls that couples can run into while estate planning. Below are four steps that gay couples should consider taking when creating an…
Read More“Funding Your Trust” in Phoenix Estate Planning?
If you are in the process of creating a Phoenix estate plan, you have probably heard the term “funding your trust.” You may be confused about what this phrase means, but it is important not to ignore it. Funding your trust is a crucial step in the estate planning process. Not funding your trust correctly…
Read MoreProtecting your Inheritance from Medicaid in Phoenix
Medicaid is a needs-based government program that provides health coverage to 69.8 million Americans. In Arizona, it is administered by the Arizona Health Care Cost Containment System. To qualify for Medicaid, Phoenix residents must meet strict income and asset requirements. Without proper planning, receiving Medicaid could end up depleting your inheritance. How Does Medicaid Deplete…
Read MoreAdd Social Media Sites to Your Estate Plan?
It is a mistake to ignore social media sites when you create your estate plan. So much of our lives have moved online, and you should treat digital assets, like social media accounts, just like any other asset and include them in your Phoenix estate plan. Why Should You Add Social Media Sites to Your…
Read MoreWhat Are Inheritance Loans Used for in Phoenix?
If you are a beneficiary to an estate in Phoenix, you will typically have to wait months and sometimes years to receive your inheritance. For some individuals, this is too long. Inheritance loans are a tool that can give you access to a portion of this cash before probate is over. Inheritance loans come with…
Read MoreHow Do You Dissolve A Trust in Phoenix, Arizona?
Trusts are a central feature of many estate plans. If your estate plan includes a trust, it is important to understand how a trust can be dissolved in Phoenix, Arizona. Dissolving a Revocable Living Trust During Your Lifetime in Phoenix A revocable or living trust is a flexible estate planning instrument that the creator (“grantor”)…
Read MoreI Received a “Waiver of Process; Consent to Probate” From an Executor of a Will. What Should I Do?
I Received a “Waiver of Process; Consent to Probate” From an Executor of a Will. What Should I Do? When a person dies with a will, it must be probated before the executor can distribute the assets. Probate refers to the court process of administering the estate. However, before the will is admitted to probate,…
Read MoreHow the Probate Process Works in Phoenix, Arizona
How the Probate Process Works in Phoenix, Arizona Probate is the legal process of settling an estate. It can be complicated to navigated with strict deadlines and numerous forms and tasks that must be completed. The person in charge of handling the probate process in Phoenix is called the personal representative. Below is a…
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