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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

Should You Gift Stocks as Part of Your Estate Plan?

Gifting stock to family members may lack the pizzazz of leaving a luxury car adorned with a bow in the driveway, but it’s a gift that can add value to their lives long after most other gifts have been forgotten.

Posted on: February 15, 2021

Can Unmarried Couples have an Estate Plan?

The couple needs to create an appropriate estate plan. If they truly want inheritance rights, they need to execute testamentary documents, such as wills.

Posted on: February 14, 2021

Does a Trust Have to Be Funded to Be Valid?

If you don’t also fund it, unexpected things can happen and some of those things may not reflect the intent to the grantor.

Posted on: February 12, 2021

Who Can Witness Wills?

When making a will and testament, it’s important to follow the rules in your state to ensure the will is valid. One of those rules centers on the requirements for witnesses.

Posted on: February 11, 2021

Why Is a Trust Smart Estate Planning for Farmers?

Depending on your family situation and the value of your estate, forming a trust can be an important addition to your farm transition plan.

Posted on: February 11, 2021

Some States Have No Estate or Inheritance Taxes

As states address budget woes due to the pandemic, one place they may turn to for revenue as they have in past economic crises is death taxes.

Posted on: February 9, 2021

Do We Need Estate Planning?

Everyone, regardless of financial status or age, can benefit from having an estate plan—assuming you have assets to leave and people to leave them to.

Posted on: February 8, 2021