ABLE Act accounts

ABLE Act Accounts

In 2014, the federal government allowed states to establish ABLE Act accounts. Do you understand who they are for and when you might want to explore the idea further? In this week’s podcast episode, we discuss ABLE Act accounts in Arizona. The accounts were first permitted under the federal Achieving a Better Life Experience Act…

Fleming & Curti as fiduciary

Fleming & Curti as Fiduciary

The last in our series of podcasts on selecting a fiduciary. Should you consider our firm, Fleming & Curti, as fiduciary? We started this cycle with a general discussion: what does “fiduciary” mean, anyway? And how do you select a successor trustee, personal representative or agent for your powers of attorney? If you don’t think…

Choosing your fiduciary

Choosing Your Fiduciary

One of the most difficult tasks connected with your estate plan is too easily overlooked. Choosing your fiduciary should be more than just naming your oldest child, or all of your children. Being a fiduciary is actually hard work. You should pay attention to which potential fiduciary is actually up to the task. In last…

Joint tenancy bank account

Joint Tenancy Bank Accounts

Do you have a bank account with another person listed as a joint owner? You probably have a joint tenancy bank account. Does that mean that the other owner could empty the account? For that matter, could you? What is a joint tenancy bank account? How do you know if you hold your bank account…

What is a Fiduciary?

What is a Fiduciary?

You may have heard or read the term: fiduciary. But what is a fiduciary? In this podcast episode, we go through some of the kinds of relationships that are included. The term covers at least these: A conservator of a living person’s estate (which can sometimes include someone acting as if they were the conservator,…

Gifts and gift tax

We Explain Gifts and Gift Tax Rules

Everyone seems to know about gifts and gift tax rules. The thing is, “everyone” tends to be wrong. In this podcast episode, we explain the basics of gifts and gift tax liability. Do you think that there is a rule limiting how much money or property you can give away? There isn’t. Do you think…

Taxation of trusts

Supreme Court Overrules Taxation of Trust

Last month the United States Supreme Court ruled (unanimously) that North Carolina’s approach to taxation of trusts was impermissible. If it was a 9-0 decision, though, the obvious questions are: Whoever thought North Carolina’s approach to taxation of trusts would be acceptable in the first place? and What difference will this decision actually make for…