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…
Perhaps you have created a revocable living trust. Likely, you have named yourself as trustee, with a carefully-selected successor trustee. But should you consider having your living trust include co-trustees? Maybe you already have co-trustees — you and your spouse, perhaps. Then the question is slightly different: should you “promote” your successor trustee to serve…
You’re already thinking about your estate planning. Perhaps it’s time to update your five-year-old will and/or trust. Maybe you’ve never gotten around to taking care of this grown-up task. But in any case: have you dealt with your pets in your estate planning? Many of our clients have strong attachments to their pets. Many assume…
Third-party special needs trusts are complicated to understand. Part of the confusion arises from the similarity of names. Self-settled (or first-party) special needs trusts are very different animals, but the similarity of names adds to the problem. In this podcast episode, we try to demystify some of the issues around third-party special needs trusts. Join…
How frequent do you think will contests are? If you’re like most people, you almost certainly overestimate the frequency of probate, and only a small portion of those cases involve contested proceedings. It’s difficult to succeed with a will contest. We talk about some of the issues. There are reasons will contests are so rare…
A close family member has died, and you are in charge of administering personal property of the estate. How do you handle the challenge? If your family member left a will, it might give you some direction. Many wills (in Arizona, at least) take advantage of the ability to make a list of personal items…
Your personal property is just, well, property. That means that if your will says (paraphrasing) “I leave all my stuff to my mother” that will include those personal effects. But consider what will actually happen to your furniture, your Moon Audio setup, even your car. And what about family antiques and your personal collectibles? Technically,…
Your estate plan usually includes a will, a health care power of attorney and a financial power of attorney. It might also include at least one trust — perhaps more if you have a child with special needs, or a complicated financial situation. Which is your most important document? You might also have partnership agreements,…
We’ve written — and talked — about different types of special needs trusts over the past week. One term that we frequently hear is about “supplemental benefits” trusts. Are they same thing as special needs trusts? Are they even recognized in Arizona? In this week’s podcast, we try to demystify the supplemental benefits trust. Join…
There are different types of special needs trusts. That should not be surprising — but the effect sometimes is. Besides that, the differences can generate plenty of confusion. Host Robert Fleming and guest Elizabeth Noble Rollings Friman, partners in the Tucson elder law firm of Fleming & Curti, PLC, discuss the differences and some of…
In earlier podcasts, we have discussed why you might want to create an irrevocable estate plan, and how you might go about it. This time our focus is different: can you modify your irrevocable estate plan? Perhaps you and your first spouse set up a plan a decade or two ago, shortly before your spouse…
You might want to make your estate plan irrevocable. Why? We discussed that in last week’s podcast. It might be because you want to make sure your spouse can’t change things after your death. Perhaps you don’t trust yourself not to be swayed by hopeful relatives or acquaintances. But for this podcast episode, let’s discuss…
Our clients often ask about making their estate plans irrevocable. Before we describe steps we might recommend, we want to understand why you think it’s important. In this podcast session, we discuss the reasons clients tell us they want an irrevocable estate plan. Later, we’ll talk about some of the choices we typically present to…
Suppose you have been appointed as your mother’s guardian in the Arizona courts. Now you (and your mother) will be moving to another state. Is there such a thing as an interstate guardianship? Can you transfer your Arizona guardianship to the new state? Conversely, suppose that you have been appointed as your adult son’s guardian…
In our Elder Law Issues newsletter this week, we described a bankruptcy court case involving a Uniform Transfers to Minors Act (UTMA) account. Arizona has also adopted the uniform law, and Arizona UTMA accounts would likely be treated in the same way. But, more importantly, when would someone want to set up an Arizona UTMA…
Do you enjoy do-it-yourself projects? How about your estate planning? Can’t you just write your own will? How about online trust forms? And wouldn’t it be cheaper if you just prepared your estate planning documents and then paid a lawyer to review them for you? In this podcast episode, we talk about DIY estate planning.…
Guardianship, conservatorship, power of attorney, living will, surrogate decision-maker — what does it all mean? We talk about guardianship and conservatorship. Join us as we define some of the terms and introduce you to the basics of surrogate decision-making. As always, of course, we are talking about Arizona law. Some of the terms are different…
For your estate planning to work, you need to coordinate your beneficiary designations. Did you name the right beneficiaries on your life insurance, your IRAs and retirement plans, and your bank and brokerage accounts? Did you know that you can also name beneficiaries for your real estate (at least in Arizona) and your vehicles? Beneficiary…
Elizabeth Noble Rollings Friman and Jacquelyne J. Mingle are now partners in the law firm of Fleming & Curti, PLC. What does that mean for the future of the firm? Will the name change? And what about the possibility that partner Thomas A. Curti might actually be retiring — is there truth to that rumor?…