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 […]

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 […]

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 […]

You need to name a health care power of attorney, commonly called an agent, in your estate plan to make future health care decisions for you if you become too ill or can’t make those decisions for yourself. Your agent shall follow the instructions included in your advance healthcare directive and make other decisions on […]

When nearing retirement, it is important to consider how to create reliable income streams that will last throughout your retirement years. Annuities are one of several options that can help provide guaranteed income in retirement. Annuities convert a lump sum of money or a series of payments into a guaranteed stream of income, essentially creating […]

The Best of Best Review recently selected Pennington Law, PLLC as 2024’s best deferred sales trust law firm in the United States. The distinction recognizes the firm as one of America’s leading legal providers based on factors like client satisfaction, service quality, team strength, and innovation. Pennington Law, PLLC assists clients in seeking ways to […]

Testators planning their estates or reviewing their documents sometimes need more than just a will. Wills are common testamentary instruments that let people choose their beneficiaries or name a guardian for their minor children. However, wills only take effect after their authors die. They also typically only facilitate the immediate transfer of property to specific […]

Many of your beneficiaries may be legal adults as you draft your estate plan. This means you can directly leave assets to them as you see fit. They can take control of financial accounts or real estate, for example. This becomes more complicated if you have a beneficiary who is a minor. In many cases, […]