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How Does the Generation-Skipping Transfer Tax Work in Estate Planning?

Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.

Posted on: March 3, 2021

How to Manage a Will and Trust

By definition, a Will accounts for a person’s wishes of how their assets and estate should be distributed and handled once they die. It spells out who should get what and who should do what, after the benefactor’s demise.

Posted on: March 2, 2021

Planning Future for Nontraditional Families

Some people are concerned that the new conservative 6-3 majority on the Supreme Court will roll back protections for non-traditional families. Regardless of the decisions at the Supreme Court, or the impact on the state family courts, there are many ways that non-traditional families can maintain control.

Posted on: March 1, 2021

What’s the Difference between Per Stirpes vs. Per Capita in Estate Planning?

Here’s a closer look at what per stirpes vs. per capita means.

Posted on: February 25, 2021

Can You Be Forced to Inherit a Timeshare?

Many timeshare contracts include a perpetuity clause, which means the contract and all its fees and obligations are yours for life. It may not end there.

Posted on: February 24, 2021

Can You Amend a Power of Attorney?

If the durable power of attorney can't be transferred, what needs to be done to establish a new durable power of attorney for my aunt despite her mental incapacity?

Posted on: February 24, 2021

How Do You Plan for the Death of a Spouse?

Beneficiary designations, tying up loose ends, reporting last wishes—here’s what you can do now.

Posted on: February 22, 2021

Every Adult Needs a Will and a Health Care Power of Attorney

A serious illness can happen at any age, but just 18% of those 55 and older have a living will, power of attorney for health care and a last will and testament, according to a 2019 study by Merrill Lynch Wealth Management. AZ Central’s recent article entitled “What to know about wills and health care…

Posted on: February 19, 2021

How Much Tax Do You Pay on Inheritance?

The death of a loved one is always a difficult time. The last thing most people want when they're grieving is to have to deal with the IRS and state tax officials.

Posted on: February 18, 2021

When Did You Last Review Beneficiary Designation Forms?

When it comes to your retirement accounts, do you know who your beneficiaries are? These types of accounts have complex distribution rules and significant tax implications for those who inherit them. This complexity is compounded, if there are errors or missing information on your beneficiary forms, as is often the case. Add to this the game-changer SECURE ACT, the largest retirement legislation that has been passed in decades—and there has never been a more important time to review your beneficiary forms.

Posted on: February 16, 2021