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Think about how many times per day you are asked for your login and password information on your computer or hand-held device — to your bank, your investments, social media, email and more. Now imagine that something happens to you and the responsibility for your online accounts suddenly devolves...

Clients frequently ask me if they have to file a tax return for a trust they have created. The answer is no if it is a REVOCABLE Living Trust. Income Tax Treatment of Revocable Trusts A revocable trust is typically formed by husband and wife. Both are considered the initial trustees who manage...

If you've ever owned a pet, you know the hole they leave in your life when they pass on. These furry friends are as much a part of the family as your spouse and kids. Thankfully, there are ways to help plan for your pets upkeep and care, should you pass on before them. This is particularly reassu...

Are joint accounts a good idea when you are creating your estate plan? The answer is yes and no. Spouses often add each other to accounts to avoid probate and transfer money to their loved one. In addition, older people often add children or trusted friends to accounts for the convenience of payi...

What is Asset Protection Anyway? Asset protection planning is about protecting your assets in good times, so you can walk away with those assets if something goes wrong financially. The people who use asset protection plans most commonly are people likely to get sued, such as real estate develope...

What Is President Obama talking About? President Obama is going to give his State of the Union address on Tuesday January 19, 2015. He has announced several initiatives including  free community college and paid leave. He knows that the number 1 question is where is that money going to come from?...

If you look in the paper for recent real estate sales, you will often see that the higher end homes are often bought and sold in and out of trusts. Is putting your own home in a trust something that you should do or is only for the wealthy? What a Living Trust Will not do! A revocable living trus...

The end of the year isn't just a time to celebrate the holidays. It is also a time to clean up last minute details and plan for the future. Here are five really smart year-end financial moves that you can make to help you begin the New Year right. Review Your Insurance Review your insurance co...

You probably know that 45-50% of first marriages end in divorce! But the news gets worse, 60 – 67% of second marriages and 70-73% of third marriages also end in divorce. What those statistics mean is that there are an awful lot of blended families out there. Blended families make estate plann...

Thanks to the Supreme Court ruling on the Defense of Marriage Act, same-sex married couples living in marriage equality states will now be treated exactly like all other married couples and enjoy the same estate planning benefits as heterosexual marriages. For instance, the unlimited marital dedu...

This is a little bit of a trick question because your circumstances as a single person are important to know. How old are you? Do you have children? Do you have no assets or substantial assets? What is the status of your health? The answers to these questions are the ones that a married couple or...

If a child with special needs is dependent on you for their care, what happens to that child when you die? Special needs kids often required different approaches to education, extra medical care, or extra assistance with the tasks of everyday living. Those needs won't go away when you, their care...

With its mild climate and warm winter sun, Arizona is a mecca for snowbirds who want to get away from the freezing temperatures, snow, cold rain and storms during the winter months. Many of these people end up purchasing a second or vacation home right here in the Valley of the Sun. As for Phoeni...

More often than not, people hear the words “estate planning” and immediately presume that if they don't have a lot of money they don't have to think about it. You might call that the albatross-style of estate planning. It is true that for most people, estate taxes and even probate are not a major...

If you have an HSA or MSA (medical savings account) there is a possibility that funds might be in the account when you die. How do you plan for the distributions of those funds? In terms of estate planning these accounts are like a hybrid. While you are alive, the account functions like an ordina...

The State of Arizona has several laws that helps determine what happens to your body when you die. Arizona law states that the surviving spouse may make final decisions about your body and funeral services. If your spouse has passed away before you or you are divorced, then the right is granted t...

Passing on your estate and assets to your heirs is serious business, and there's very little room for error. For instance, what happens if your executor or trustee passes away before you do and you didn't update your estate plan to reflect that? What happens if you remarry and your ex-husband is ...

No one likes to contemplate their own mortality, which is why so many people fail to plan how their assets will be distributed when they pass on. However, assessing your assets and goals is critical if you don't want your heirs to end up in probate court waiting for your assets to be decided on b...

When you get right down to it, estate planning is all about preserving family values and traditions and promoting family harmony. So ask yourself these questions: If you were gone, would your family know how much you cared for them? Would they know about what was important in your life? Wo...

Probate describes a process where the Superior Court of Arizona appoints a personal representative of the estate of the deceased person to oversee certain tasks. Under Arizona probate laws recently passed, a person who is going to serve as a Personal Representative must take an online training co...

A financial power of attorney is a written legal document that allows you to give authority to another person to make financial and legal decisions (and financial transactions) on your behalf. Sometimes, making your own financial decision is not possible. You might be traveling in remote areas fo...

Most business owners are so focused on short-term issues that they forget to make decisions and plans for how they will exit their business. But every business owner needs a business exit strategy. Many assume that the decision to exit the business is voluntary. Most often, however, an owner is f...

Often overlooked in the divorce process is the need to update estate planning. Most people would agree that their ex-spouse is the last person they want to inherit their assets when they die—or to make life and death decisions for them. But that is exactly what can happen – and often does – when ...

Why is Risk Management Necessary? Risk is a part of everyday business life. You will encounter many types of risk in your small business. Every business encounters risks, some of which are predictable and under your control, and others which are unpredictable and uncontrollable. Some will have a ...

Starting a business in Arizona isn't complicated, but you don't want to miss any of the steps. Follow this simple checklist to make sure you've thought your way through all the steps. Write a Business Plan Form goals and objectives for your new company. Start with a detailed outline of what y...