The last will and testament rank as one of the essential items in an estate plan. The document establishes directives that an executor and the Arizona probate court should carry out after the testator's passing. While the will is critical to many estate plans, the...
Beth Kruchek Legal Blog
What to consider when creating an estate plan
Any property left in your Arizona estate may be subject to probate. A quality estate plan may allow you to hold assets outside your estate or otherwise allow your property to avoid probate. Estate planning may also help ensure that your kids are taken care of after...
The basics of ILITs in Arizona
When it comes to estate planning, there are a few different options available to you. One of those options is an irrevocable life insurance trust, or ILIT. This special type of trust has many benefits, including estate and tax savings. What is an irrevocable life...
Are trusts different from wills in estate planning?
Estate planning is an important process that everyone should go through to ensure that their loved ones get taken care of in the event of their death. When estate planning in Arizona, you have the option of creating a will or trust. While both documents can help you...
Top estate planning mistakes in Arizona
Estate planning comes with a lot of benefits if you do it right. It can ensure that your assets get distributed according to your wishes. However, if you make the following common mistakes while estate planning, you could end up doing more harm than good. Not updating...
Profitable ways to be charitable
Finding a profitable way to give means ensuring your ability to give. By using charitable trusts when estate planning in Arizona, you can provide and generate an income simultaneously. Diversifying how you give enables you to impact the world without losing money. If...
Gun trusts: What you need to know
If you own a firearm in Arizona, you want to prevent your heirs from facing issues, such as felony charges, when they receive it. The first step is to understand what a gun trust is and how it works in estate planning. For this and more information, keep reading. What...
Reasons for establishing a pet trust
Pet owners love their pets and may want to ensure that their beloved companion receives care during their lifetime and after their death. A pet trust assures that your wishes are in force so that your beloved animal has funded visits to their vet or other necessary...
Handling issues with co-executors
Being named as a co-executor of an estate is a high honor for most, especially those tasked with managing their relatives' large and expansive estates. However, if you share the executor's responsibility with other relatives, such as siblings, or even your children,...
When a living trust may be needed
Besides wills, trusts can also be part of an estate plan to control assets. Without a will or trust, a person's assets will get divided according to Arizona state law after they pass away. One popular type of trust is the living trust, which has many benefits....