If we all had crystal balls that could predict the future, estate planning would be a whole lot easier. We don’t, it’s not — and we’re here to tell you that you need to plan for contingencies. One difficult aspect of planning is considering the various ways the future can unfold. Perhaps the hardest part:…
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In a divorce proceeding, the court determines who should have custody (and decision-making authority) over any minor children. When a child subject to such an order reaches majority, the court order usually expires. But when the now-adult child has a disability, either or both parents may seek appointment as guardian. Does the divorce court custody…
At Fleming & Curti, PLC, we frequently act as fiduciary. That means we handle money held in trusts, conservatorships and individual names. It also means we file tax returns — lots of them. We have just completed (mostly) the 2018 tax filings, and we have some insights into how the 2017 Tax Cut and Jobs…
Clients often ask how to make their estate plan irrevocable. In most (but not all) cases, the question comes from a married couple — often in a second or later marriage, and with children from earlier marriages. The actual question one spouse asks: how can I be sure that my spouse can’t change our estate…
We see it all the time. We ask our clients not to write on their wills or trusts. This weekly newsletter regularly reports stories about how it does not work. Nonetheless, people keep trying to make a will deletion or modification by scribbling on the will itself. Please remember, folks: when the issue becomes important,…
The Uniform Transfers to Minors Act (UTMA) is a popular choice for making gifts to minor children. A UTMA account is easy to set up, essentially free to administer, and does not involve lawyers, courts or even (usually) accountants. But UTMA accounts continue to be the source of confusion. Who actually owns a UTMA account?…
Three weeks ago, the leading American company selling long-term care insurance suspended sales of its lead product. Last week, the company restarted sales — but only by direct online contact. In other words, brokers and insurance salespeople are now cut out of the loop for the largest seller. What does that mean for the marketplace,…
Judicial immunity protects judges and court personnel from being sued by unhappy litigants. Does that protection extend to people appointed by the judge under court rules? Sometimes, but not in every instance. Steve Gibson’s murder In 2013,Steve Gibson was brutally murdered in his Peoria, Arizona, home. Police soon determined that Gibson’s wife, son, and daughter…
Although death sometimes arrives with plenty of warning, often there is none. Estate planning, of course, tries to provide a roadmap for both scenarios. The truth is, having an estate plan doesn’t always mean things go smoothly, and when things go smoothly, it’s not always because there was an estate plan. Take Luke Perry. After…
We’ve written about this issue before. Generally, your IRA beneficiary designation will control who receives your account. Your will (or trust) provisions will not override the beneficiary designation. Arizona’s community property rules won’t have much effect — in fact, they will normally have no effect. It’s all about your IRA beneficiary designation. Of course, people…