Estate Planning: It’s About Your Wishes, Only Your Wishes
Family togetherness and professional collaboration are great. Most of the time. For estate planning? Proceed with caution. Or just say no. It’s common for family members and advisors to encourage estate planning. That of course is a good thing. But the planning itself should not be a group project. Group efforts are so prevalent that […]
June Review: From Politics to Very Special Pets
With July less than a week away, it’s time for our monthly edition of elder law news and developments. For the June review, there’s politics, planning, and some very, very special pets. Political Developments June 14 was World Elder Abuse Awareness Day, and President Biden issued a proclamation to “highlight the signs of this crisis, […]
2026 Estate-Tax Sunset on the Horizon
In a little more than two-and-a-half years, it will be 2026. That’s when the historically high estate tax exemptions are scheduled to sunset to $5 million, the 2017 level, adjusted for inflation. Most think that number will be around $7 million. 2026: A Crystal Ball Would Be Nice Obviously, Congress and the president can change […]
May Review: Brace for Change, Breathe for Brains, Buy Stuff
Each month, we pause and look back at news and developments in elder law. For the May review, there’s news in the Arizona legislature and more: May Review of Arizona News The Arizona legislature is aiming to make changes in probate, which we wrote about earlier this month. Already law is the creation of a […]
Change May Be Coming to Guardian/Conservator Law
In the Arizona Legislature, the landscape can change quickly. About a month ago, we noted that Arizona’s current legislative season was a fairly quiet one for state planning and elder law purposes. Not so much anymore. Though the First Regular Session of the 56th Arizona Legislature was scheduled to wrap up April 22, lawmakers are […]
Gift to Charity via an IRA? It’s Not Always Easy
Charitable intentions and retirement accounts can be a potent estate planning combination. Traditional IRAs are funded with pretax dollars and grow tax free, but income tax comes due when the money comes out, whether during the account owner’s lifetime or after their death. Giving a charity a taxable retirement account maximizes an estate’s impact: The […]
April Review: Boomers, Trusts, and Tupac
Can you believe May is less than a week away? That means it’s time to share our April review of developments in elder law: Boomer Trends Our April review turned up several items related to the aging of the baby boomer generation: The economy. Conventional wisdom says baby boomers’ aging spells doom and gloom for […]
Succession Planning for Parents and Guardians
Parents and Guardians should have a succession plan. Most people know that a will’s primary function is to determine where their property goes when they die. For people with minor children, the will should serve another function: name a guardian if the parent dies before the child reaches the age of majority — age 18. […]
March Review: Green Book, Bees, and McMurtry’s Boots
April is around the corner, so it’s time for the March review of elder law issues. At the end of each month, we like to survey the internet and share items of interest. Here’s what we found this month: Estate & Tax Planning We never pay that much attention to the president’s “Green Book” – […]
Think Twice Before Messing With Mom
A recent Arizona Court of Appeals decision has an important lesson: Think twice before messing with Mom. She might fight back, and she might win. In Re Lindquist centers on Arizona’s vulnerable adult exploitation statute (A.R.S. § 46-456). But the more general message is one we’ve noted before: If you are a child trying to “help” […]
