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When you establish a revocable trust as part of your estate plan, you will also need to name someone to manage the trust on behalf of its beneficiaries. This individual is called the trustee. In Arizona, you can structure a trust so that the duration of the trustee’s management is set for a certain period […]

Living trusts are powerful estate planning tools that can help you avoid probate, prevent delays in passing along your inheritance, and control what happens to your estate after you’re gone. Here’s what you need to know about setting up a living trust in Arizona, and how an experienced estate planning lawyer can help you achieve […]

Life estates have become popular tools in Arizona estate planning. They help people pass on their home or other real property to their families or other heirs while avoiding the probate process. However, as with any estate planning tool, it’s crucial to know how to structure life estates correctly and understand the complications they can […]

When an Arizona resident who owns property in other states passes away, finalizing their affairs will require probate proceedings in any place where their property is located. Arizona courts have no authority to order the disposition of property located in other states. These circumstances can raise considerable confusion during estate administration without proper planning. If […]

After a loved one passes away, probate can make the process of distributing assets time-consuming and costly. However, individuals can take steps during the estate planning process to bypass probate to reduce complications and simplify asset distribution before they die. An experienced Arizona estate planning attorney can explain how to avoid probate with a trust […]

A power of attorney (POA) gives someone legal authority to act on your behalf, but it doesn’t have to last forever. If your situation or relationship changes, you may wish to cancel that authority. While Arizona law makes provisions for revoking a power of attorney, you must handle the process carefully. When Can You Revoke […]

Minimizing taxes is a key component of estate planning and a way to preserve your wealth and maximize what gets passed on to your heirs. While Arizona does not impose a state inheritance or estate tax, federal tax laws may affect how much your heirs ultimately receive. With effective estate planning, you can reduce and […]

Arizona residents who are planning for the future might consider creating a living will as part of their estate plan. Among the many benefits of a living will is the peace of mind that comes with knowing your healthcare wishes will be clear if you cannot make decisions regarding your treatment. What Is a Living […]

Asset protection is one of the key purposes of estate planning. A living trust is one commonly used tool to accomplish that goal. Living trusts offer many benefits beyond asset protection, including probate avoidance, easier distributions to heirs, and privacy. However, you may wonder whether a living trust can protect assets from lawsuit threats. Here’s […]

If you’re an investor with significant gains in market investments—whether from stocks, real estate, or a business sale—you may be facing a hefty capital gains tax bill when you decide to sell. Fortunately, a Deferred Sales Trust (DST) provides a powerful solution to legally defer taxes, reinvest your proceeds, and preserve your wealth. At Pennington […]