October is around the corner, which means it’s time for the September review of elder law news and developments. Of utmost concern: Potential changes to the estate tax. We’ll devote most of our review to the current proposal, even though it’s very far from a done deal. Those who might be affected should think about…
ELDER LAW ISSUES
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A will (or trust) often leaves specific items — like stock — to named individuals. But what happens when that specific item no longer exists at the death of the owner? Well, let’s review the concept of “ademption.” What is ademption? The legal concept of ademption is straightforward. But understanding it requires us to first…
Write it down. For decades, law firms like Fleming & Curti have provided estate planning clients with blank forms for making lists for gifts of personal property. Clients rarely use them, but there are significant benefits to making lists. Lists give your executor (a/k/a personal representative) or trustee a roadmap for distributing the items. In…
If you signed your health care directives with Fleming & Curti, PLC, in the past decade or so, you probably already know about the Arizona advance directive registry. It gives you an easy — and free — way to store your health care power of attorney, living will or pre-hospital medical care directive online. For…
It’s the end of the month, so it’s time for the August review of elder-law related developments. Taxes & Planning Iowa has decided to ditch its inheritance tax, phased out and fully reduced by January 1, 2025. There are only five others: Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Even “Gen Z” needs to know…
In a few short weeks, health care agents will need something extra to protect incapacitated loved ones from upsetting visitors. A court order. Starting September 29, when new laws in Arizona take effect, health-care agents (“HCPOAs”) will be subject to a new visitation law, A.R.S. § 36-3211. New Visitation Law: ‘Encourage and Allow’ Contact The new…
First, the news: Arizona has now legislated a state income tax deduction for ABLE Act contributions, beginning this year. Now, let us explain what that means. Let’s start with the ABLE Act itself As a reminder, Congress passed the Achieving a Better Life Experience (ABLE) Act at the end of 2014. It allowed states to…
Late in life romance is special. Older couples, often financially secure, can travel, enjoy one another’s company, and get to know families and friends without historical baggage. Staying single also has practical appeal. It seems simple for those who have endured divorce or aim to maintain separate finances. But an arrangement that seems simple can…
Imagine a terminally-ill person marrying a long-time companion in the final weeks of life. If he or she was incapacitated at the time, can the marriage be annulled after the new spouse’s death? The Nebraska Supreme Court thinks so. Molly Stacey’s last years Greg Meyer, then 54, moved in with Molly Stacey in 2009. The…
As we’ve been enjoying a fabulously soggy monsoon season in Tucson, suddenly August is around the corner. That means it’s time to survey the elder law landscape and share various items of interest. We delayed the June review because Britney Spears’ legal struggles took center stage. So this monsoon season review spans the two months…