Every year, the IRS announces inflation-adjusted numbers for all kinds of tax-related things. Estate and gift tax limits are among them, and the 2020 numbers are here. The new estate tax limits will be $11.58 million per person, up from $11.4 million. The same figure applies to lifetime gift tax exclusion, as well. That means…
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Families — and practitioners — frequently face a problem associated with our mobile society. After a family member moves across state lines, in which state should any court actions be filed? In other words, who has jurisdiction over adult guardianship proceedings? Wait — isn’t there a law on that? We’ve written before about the Uniform…
Each month, we like to survey the elder law landscape and share news stories we found interesting or helpful. The main October roundup item focuses on someone who’s not old: Britney Spears. She remains under conservatorship, a legal arrangement designed to help incapacitated people, often elderly but not always: What’s the Deal With Britney? Maria…
Each year the U.S. Social Security Administration calculates an adjustment in the cost of living (COLA). The 2020 COLA increase has now been set at 1.6%. That means that, starting January 1, 2020, a number of changes will cascade through the benefit structure. How will the 2020 COLA increase affect you, or your family member?…
Can you write your own Will? Sure, Arizona law (like laws in many other states) allows you to write your wishes in your own handwriting and sign it. Such a DIY estate plan could be perfectly valid. You also can find all kinds of forms online not only for estate plans but for other legal…
Like many states, Arizona has included a statutory health care power of attorney in its law. That means the legislature has written a power of attorney form for you. You can fill it out, sign it and have it witnessed, and you have a completely valid document. The Arizona Attorney General’s office has even made…
October is just around the corner, which means it’s time for our end-of-the-month collection of elder law news items. Some of the September roundup items challenge conventional assumptions about watchdogs, death at home, wealth taxes, and obituaries: Do Watchdog Agencies Protect Us? Many believe that if you lodge a complaint with a state agency about…
What is the difference between a third-party special needs trust and a self-settled trust? The distinction can be way more confusing than it ought to be. The trusts are similar in a number of ways, but there are important differences. A few months ago, we explained self-settled special needs trusts in this space. Those are…
Let’s say you’ve discovered that a recently deceased loved one named you successor trustee. We have a message for you: You are not a dictator, you are not royalty, you do not have a license to torment the relatives who are beneficiaries, and you don’t have to accept. You will be governed by some trustee’s…
Hopeful planning: when your estate plan is based around your hope that everything will turn out fine. We see it a lot. Often it works. Too often it does not. Two cases we read last week illustrate how hopeful planning can go wrong when facts change after the planner’s death. Both happened to be California…