In our probate and estate planning practice at Peterson Law Offices, PLLC, clients often ask whether every Arizona estate must go through probate. The simple answer is “no,” every estate does not go through probate. But Arizona law requires many estates to go through a probate process. And — to make an important distinction — every estate d…
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Your will and other estate plan documents protect you and your family during your life and after you pass away. Your estate plan provides peace-of-mind about the legal protection you have put in place. However, using forms or an online do-it-yourself (DIY) service can defeat those important goals and have significant negative consequences for you a…
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If you own an IRA or 401(k) that will be inherited on your death, the rules that apply to inheritance of those assets just changed significantly. The change accelerates required distributions for many beneficiaries. The new rule is part of the federal SECURE (Setting Every Community Up for Retirement Enhancement) Act, enacted at the end of 2019. Th…
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Buyers from all over the world purchase real estate in Arizona, largely because of our hospitable climate. Non-U.S. Citizens who purchase real estate in Arizona know they must be cognizant of all the legal implications of owning real estate here. One aspect that sometimes escapes attention relates to what happens to the property when the owner pass…
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Estate planning is important for everyone, but it is especially vital for individuals who have a blended family following a remarriage. The estate planning goal of ensuring that natural children (and grandchildren) receive their inheritance becomes more challenging in a blended family situation. Other special estate planning concerns warrant consid…
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If you are unmarried and do not have children or living relatives, you might think that estate planning is not important or deserving of your attention. However, it is an undertaking that is essential to protect you during your life and ensure that your property does not end up in the hands of the state. Singles sometimes feel there aren’t good o…
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Many individuals support charities and philanthropic groups throughout their lives by donating regularly to organizations and causes that touch their lives or do work important to the donor. Charitable giving also is an important part of estate planning for a lot of people. Lifetime charitable and philanthropic gifting is usually a simple matter of…
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Estate planning and financial planning are different processes that help you protect your assets and plan for the future. Each process has a different purpose. Estate planning attorneys and financial planners have distinct roles and expertise — but your estate plan and financial plan work together to help you achieve important long-term goals. Wh…
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When someone mentions “estate planning,” most people think the term refers to deciding what happens to their property after they die. In fact, some of the most important parts of your estate plan protect you — and your family — during your lifetime. When Should You Make an Estate Plan? Accidents and medical emergencies give no advance warni…
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The primary goals of estate planning include protecting your family and ensuring that they benefit from your financial legacy. But there is another important purpose behind planning your estate, one that many people do not even consider consciously. Thoughtful and thorough estate planning avoids family conflicts that could ruin relationships irrepa…
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