Blog

Wealth preservation is one of the goals of estate planning. For some, the wealth they have may be suitable to pass down to multiple generations. One option to do this in Arizona is through dynasty trusts. This is a type of irrevocable trust, so the creator loses control of the assets once the trust is […]

Accruing wealth can occur over the course of years of hard work or may result from a sudden windfall. Unfortunately, too many people become complacent after achieving financial success. They may fail to properly plan to preserve their good fortune. Acquiring wealth is only the first step toward long-term financial stability. People also have to […]

Estate plans in Arizona can be complex collections of multiple documents. Testators can draft documents discussing their estates and arranging for their care as they age. Other times, the only document a testator creates prior to their death is a will. Wills give testators an opportunity to choose their beneficiaries and bequeath them specific assets. […]

Were you asked to be the executor for a family member’s or friend’s estate? Then you were given a very important role, likely, because you are trusted and responsible. However, do you know what it takes to be an executor? The executor’s role is to settle an estate once the testator passes away. The executor […]

A trust is a legal document that allows you to manage the distribution of your estate after you pass away. A trust is arranged with a trustee who is responsible for overseeing and managing trust funds. A trustee will, typically, distribute assets to beneficiaries after you pass away. Revocable trusts are commonly added to estate […]

When looking for a way to safeguard your assets, choosing a business structure is crucial. There are several legal structures designed to provide asset protection, each offering varying levels of security and benefits. Legal guidance can be helpful in determining the best business structure among the following that will align with your specific asset protection […]

Every parent dreams of securing a good and comfortable future for their children. One of the ways you can do that is by establishing a trust. However, establishing a trust can be daunting, and it’s important to avoid common mistakes to better ensure that your trust effectively meets your goals. Here are tips on avoiding […]

Surprise, AZ – August 13, 2024 – Pennington Law, PLLC is proud to announce that the firm has been honored with a place on the prestigious 2024 Inc. 5000 list, which recognizes the fastest-growing private companies in America. This remarkable achievement highlights the firm’s consistent growth, dedication to client service, and leadership under Founding Attorney […]

Estate disputes are more common than many people realize – and they can end up tearing a family apart. Understanding the common reasons for inheritance disputes may help you take a more strategic approach to your estate planning process so that your family doesn’t end up in litigation after your death. Some of the biggest […]

A charitable remainder trust (CRT) is a type of irrevocable trust that often plays into asset protection and wealth preservation strategies. CRTs are designed to minimize taxes on certain assets while generating an income stream for the primary (noncharitable) beneficiaries for a set time – after which all remaining assets go to the remainder (charitable) […]