Posts Tagged ‘phoenix estate planning attorney’
Types of Power of Attorney in Arizona
A power of attorney is a legal document that gives another adult the authority to act in your place. There are various types of power of attorneys in Arizona that serve different purposes. A Phoenix estate planning attorney can help you choose the right power of attorney to meet your needs. What are the Types…
Read MoreHow My New Spouse Gets My Assets in Arizona
In Arizona, it is common for individuals to find love again and remarry after divorce or the death of their spouse. Although not the most romantic topic, one of your first priorities as a newly married couple should be to update your estate plans. Estate planning is necessary, especially when it involves second marriages and…
Read MoreWhat Should I Expect From the Executor of My Estate?
An executor (also referred to as a personal representative) is the person that is responsible for managing the affairs of a deceased person’s probate estate. In a will, you choose the person that you want to act as your executor. This role comes with significant responsibility, so it is critical to choose someone trustworthy and…
Read MoreKey Differences Between a Will and a Trust
Key Differences Between a Will and a Trust A will or trust serves as the foundation of all Phoenix estate plans. They both help you transfer your assets to your beneficiaries, but there are significant differences between the two estate planning tools. The role each vehicle plays in your estate plan will depend on your…
Read MoreProbate 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 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 MoreImportant Considerations in Preparing a Revocable Trust In Phoenix, AZ
A revocable trust, also known as a living trust, is an estate planning tool that allows you to distribute your assets after death or incapacitation. A revocable trust allows you to transfer legal ownership of your assets into a trust during your lifetime. After your death, the assets in the trust may be transferred to…
Read MoreA Brief History of Phoenix, Arizona
With shiny new high-rises constantly being built, it can be easy to forget that Phoenix, Arizona was not always the metropolitan city that it is today. If you read below, you will find out that Phoenix has a rich and vibrant history going back thousands of years. Early Native American History The Hohokam tribe are…
Read More