Year: 2024

A POD account is another name for a Payable On Death account. Due to the paperwork that is used to set this up, it is also sometimes referred to as a Totten Trust. It can be an important part of your estate plan as you pass assets on to the next generation. You can often […]

Making an estate plan is important, and it is typically wise to do this well in advance. People pass away unexpectedly every day. If you procrastinate estate planning, there is a chance that you could leave your family with no plan at all. At the same time, people are sometimes concerned that making an estate […]

When making an estate plan, it’s important to consider your medical future. You can’t always predict exactly what is going to happen. But your estate plan can take some steps to ensure that your response is already prepared. One way to do this is to use a medical power of attorney. You can use this […]

You can use your estate plan to select a guardian for your child. If you pass away while that child is still a minor, the guardian then takes over and helps raise them. Since this person would be a substitute parent, it’s very important to choose the right individual. Doing so can be difficult. This […]

Asset protection plans are useful vehicles for safeguarding your wealth and ensuring that your assets are protected from potential creditors, lawsuits and other financial risks. As such, they should be prepared with extreme care and attention to detail to maximize their effectiveness and legal compliance. Getting guidance from experienced legal professionals can help avoid the […]

The general public often thinks that estate planning is only for the elderly or those with life-threatening illnesses. The truth is that it’s never too early to start an estate plan. Whether you are married or not, preparing for the future is always a good idea. Making an estate plan now is the first step […]

You start your estate plan with a focus on financial assets. You want to preserve your wealth, perhaps maximizing the amount that gets passed down to your descendants. You may want to use trusts and other estate planning tools to guide how wealth is handled moving forward. But you also have children of your own, […]

With many parts of an estate plan, the person making the plan has no control over how the inheritance is used. They can decide who gets the money or other assets, but it is up to that beneficiary to decide how to use them. If they leave someone $100,000 in their will, that person may […]

If you live in one of Arizona’s many communities for seniors, you likely have a home that’s worth a considerable amount of money. If the community is only for those 55 and over, or has some other age restriction to help ensure its relative tranquility for residents, you’ll need to consider that when you determine […]

Estate administration involves accepting responsibility for someone else’s legacy. The personal representative of an estate must attend probate proceedings, properly manage estate resources and comply with the instructions left by the decedent. Often, estate plans include a small amount of compensation for the services rendered by a personal representative or executor. However, the trade-off is […]