Automatic Transfer on Death: Arizona’s Beneficiary Deed
You know that you can name a beneficiary on your life insurance account, your bank and other financial accounts — even your car. Wouldn’t it be great if you could create an automatic transfer on death for your home? Oh, wait — in Arizona, at least, you can. Arizona’s “beneficiary deed” We’ve written about the […]
Avoiding Probate — A Good Idea, But Not Always Effective
AUGUST 25, 2014 VOLUME 21 NUMBER 30 Some people really don’t like city traffic, and will go out of their way to get on the freeway whenever possible. Of course, that approach can backfire — freeway traffic is sometimes snarled, and sometimes in unpredictable ways (and at unpredictable times). Avoidance of surface traffic can be […]
“Vest Pocket” Deed Is Valid to Transfer Family Farmland
OCTOBER 25, 2010 VOLUME 17 NUMBER 33 It has been a while since we wrote about “vest pocket” deeds. That reflects the reality that they are more common in fiction and mythology than in the real world of legal proceedings, but they occasionally do crop up. The problems of validity and effect can involve lawyers […]
Two Life Insurance Beneficiary Designations Require Litigation
APRIL 28, 2003 VOLUME 10, NUMBER 43 When people consider “estate planning” they usually are thinking about preparing a will. Sometimes the common conception of estate planning includes preparing a trust as well, and often durable powers of attorney are also part of the plan. But two recent cases demonstrate that “estate planning” is really […]
Creditor Files Claim Against Parent’s Joint Tenancy Account
FEBRUARY 11, 2002 VOLUME 9, NUMBER 33 Ruth Libros, like many parents, wanted to make it easy for her children to manage her affairs if she became incapacitated. She also wanted to make sure there would be no costly or time-consuming probate proceedings upon her death. She decided one way to achieve both results was […]
Retirement Plan Beneficiary Designation Controls Despite Will Provisions
DECEMBER 11, 2000 VOLUME 8, NUMBER 24 “Estate planning” means more than just preparing and signing a will. The families of Donald and Mary Perkins learned that even when a will is in place, there still may be problems. Mr. and Mrs. Perkins had both been married before. Each of them had three children from […]
Living Trusts Are Valuable Tools Alright, But Watch That Pitch
MARCH 1, 1999 VOLUME 6, NUMBER 35 “Since the Revocable Living Trust avoids the expensive and lengthy legal process known as ‘probate’” proclaims a national insurance sales agency in its brochure, “it is fast replacing the Last Will and Testament as the preferred method for asset distribution.” Elsewhere, the same insurance agency promises that the […]
