By John Even | Published July 23, 2014 | Posted in Probate and Trust Administration |
Does my will help my family avoid probate? Although many people believe that creating a will helps them to avoid a probate, this is absolutely false. A will does not avoid a probate at all. Then what does a Will do? A will does allow you to select a personal representative (Arizona’s legal term for Read More
Read MorePeople often think that beneficiary designations are no big deal, but they are! For most people, their 401(k)’s, IRA’s, and life insurance policies make up a significant portion of their estate. Yet, many times the same people who spend hours reviewing their trusts and other estate planning documents hardly think at all about beneficiary designations Read More
Read MoreWhen most people think about their estate planning, they think of transferring their homes, their bank accounts, and their investments – but they forget about their businesses. However, for most business owners, their business is the largest asset that they have! Often, business owners forget to plan properly for this important asset when creating their Read More
Read MoreAlthough there are several ways to avoid a probate, the best way to do so is generally by setting up a revocable living trust for you and your family. There are three other ways to avoid a probate, but, as you will see, each of these other options has significant drawbacks. Give It Away During Read More
Read MoreWhat is Probate? The word probate comes from the Latin word “provar” which means to prove. Historically, probate was the process of “proving” that a person’s will was authentic after he or she (defined by the Arizona Probate Code as the “decedent”) passed away. Today, the word probate has a much broader meaning to describe Read More
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