A Trust Protector is an individual or legal entity authorized to make changes in a trust when the trust creator is unable to make those changes. Individuals who create trusts are naturally concerned that future circumstances might require changes to …
In 2018, the Arizona legislature updated Arizona’s Certification of Trust law in two important areas. First: This updated law prohibits third parties, such as banks, brokerage firms, and title companies, from requiring trustees to disclose the names of successor trustees …
Inherited IRA distribution rules come into play when an IRA participant dies. The post-death distribution rules for an Inherited IRA depend on many factors: Whether the IRA owner died before or after they were required to begin receiving distributions from …
The following edited article from USA Today convincingly illustrates the importance of beneficiary designation forms. A Widow’s Tale of Woe demonstrates the importance of beneficiary designation forms for your retirement plans and the necessity to have them available to your …
Drastic Changes In Exemption Amounts: Our nation’s estate and gift tax laws changed drastically in 2018. This change significantly increased estate and gift tax exemptions. As a result of this change, most decedents’ estates may never incur estate taxes. However, …
It is commonly assumed that an “irrevocable trust” is one whose terms can never be changed. However, that assumption is not always true. There are many ways an “irrevocable” trust can be modified or even terminated. Some of those ways …
Does your family know how and where to access sentimental family treasures such as digitally scanned family photos? How about your online bank, credit card, and investment accounts? Also, consider your social media accounts and your other “digital assets“. Unfortunately, …
Federal Estate Tax Portability is a significant development in federal estate tax law. In essence, if a spouse dies and has not used all of their federal estate tax exclusion, the unused portion can be rolled over and used in …
Federal Law Trumps State Law: Very seldom does the United States Supreme Court decide a case involving state probate law. However, on June 3, 2013, the Court once again decided that federal law trumps state law when it comes to certain …
Choosing a Professional Trustee. A trustee is responsible for managing an individual’s financial affairs upon their incapacity or death. Many people choose family members or relatives to administer their trust assets upon the occurrence of these events. They do so …
Choosing a Trustee — Benefits of a Professional Trustee Read more »
