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...
Estate Planning
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...
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...
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,...
Simple strategies for drafting an effective digital estate plan
After having drafted their wills, named their estate executors, and created trusts for children and grandchildren, many Arizona residents mistakenly assume that they're done planning their estates. However, in reality, there's always the final task of organizing...
Estate planning with stepchildren in mind
Blended families have become increasingly common in Arizona. When married couples have children from earlier marriages and subsequently have children together, their estate plans should be written in a way to ensure that everyone's interests will be protected so that...
Can step-parents inherit an entire estate?
If someone dies in Arizona and leaves a will behind, their children might feel like they should get priority over their step-parents. Some people leave everything to their new spouses, assuming that they'll divide their estate among their children from previous...