Below you'll find a list of all posts that have been categorized as “Estate Planning”
Money. It’s hard to get and easy to lose. It doesn’t take long for the wealth you’ve accrued to disappear if you don’t manage your money correctly or have a plan to guard your assets against sudden disaster. Traps like the ones revealed below could easily impede your financial security. Planning ahead can protect you and your family from getting …
Tax filing day has passed us by for another year (unless you are on extension). Most people don’t start planning for their taxes until they start receiving documents. At this point your accountant is a glorified scorekeeper showing you what you owe or what you are getting back. Now is the time to start planning for 2017, especially with all …
With proper planning, the answer should most commonly be no. I have always thought that the point of proper estate planning was to avoid probate, minimize legal expenses, minimize estate taxes, and minimize income taxes. I have always believed that it is easier to avoid a problem than it is to solve one. A lot of people are confused by …
The Arizona Family College Savings Program (529 Plan) forms the Section 529-College Savings Plan. It falls under the sponsorship of the State of Arizona utilizing the Arizona Commission for Post Secondary Education. The 529 Plan has been formulated to support families trying to meet the increasing expenditure involved in attaining higher education. The program offers a simple, flexible as well …
Today majority of blended families live together peacefully without any issues. However, what if one spouse dies suddenly? How are the biological children of the deceased spouse placed in terms of inheritance? It is particularly important for blended families to discuss matters related to estate planning before hand. Here are a few points that could help with estate planning for …
Valid Will in Arizona A will can be the most crucial legal document you can create during your lifetime. Your will elaborates on how your property and money must be distributed after your death. The document also nominates a personal representative who will be entrusted to administer your estate and also names a guardian (if applicable) to care for your …
If you have a large estate with adjusted gross value coming to a minimum of $5.34 million starting 2014, a big chunk of it will be gobbled by the federal estate taxes. Although there is no state inheritance tax in Arizona, any trusts and estates exceeding state exemption will result in you paying income taxes. The list of other taxes …
Most people associate an estate planning with land. The truth is everything that you own can be termed as your “estate”. Your home, your car, your furniture, your bank accounts, any and all investments and your possessions, they’re all a part of your assets. Being valuable, and close to your heart, what happens to them later is something that you …
Settling an estate can turn out to be a tough process for anyone, especially the individuals most affected by the death. If you are aware of the state laws, and follow a few practical steps, then the process will flow much faster for you. The meaning of settling an estate whether it is located in Chandler, Gilbert, Mesa, Phoenix or any …
Uninformed heirs often make poor financial decisions with the assets left to them, leading to unnecessary taxes, pointless attorney fees, overspending, family disputes and much, much more. Generational wealth planning can keep your hard earned money in your family where it belongs and keep your parental wishes intact. Recommendations to prepare your children for financial responsibility: 1. Establish a well …
Today, many tools and unlimited information regarding estate planning is available online. As a result, a greater number of people are gradually bypassing employing the services of a financial planner for documentation work. You might think it is a good idea from the point of view of a consumer as it helps with cost cutting. However, the fact is that even …
