Should I Use a Separate Or Joint Revocable Living Trust? Joint Trusts Vs Separate Trusts For Married Couples When a couple engages in foundational estate planning, one of the first questions addressed by Mesa estate planning attorneys is whether it makes sense for the couple to use a revocable living trust (RLT) as a part [...]
What Is Basis, & Why Is It Important In Estate Planning? How Does Tax Law Affect Your Estate Plan? “Basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about. Nevertheless, a basic understanding [...]
Estate Planning For Seniors: Frequently Asked Questions Experienced Estate Planning Attorneys Answer Common Questions Made By Senior Citizens According to a study conducted by Caring.com, the percentage of people aged fifty-five and older who have created a will has fallen from 60 percent to 44 percent since 2019. Although creating or updating your estate [...]
What Are The Limitations Of Financial Power Of Attorney? Power Of Attorney Exceptions On Estate Planning Besides directing what happens to your finances when you pass away, a comprehensive estate plan also addresses the possibility that you could become unable to handle your financial affairs while you are still alive. You may have signed [...]
Estate Planning: How To Create a Successful Multigenerational Wealth Transfer How Can Generational Wealth Be Preserved? Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation. To help your loved ones avoid becoming part of this statistic, [...]
Fears That Prevent Communicating With Loved Ones About Their Wealth Why Do People Fear Talking About Money? Studies have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs. Often, fear is what underlies the lack of [...]
How To Preserve Money & Property Past The Third Generation How Can Wealth Be Preserved Beyond The Third Generation? Whether you have inherited your wealth or have built it yourself, you likely want to share this wealth with the next generation and beyond. The quotation “shirtsleeves to shirtsleeves in three generations” has often been [...]
What Happens To My Digital Movies When I Die? The Importance Of Estate Planning For Digital Assets In today’s digital age, many people have a library of digital assets that may include items such as books, music, and movies. One of the perceived benefits of owning these digital items is having a convenient way [...]
What Are The Differences Between a Prenuptial Agreement & a Will Or Trust? Mesa's Leading Estate Planning Attorneys Explain Why Prenup Agreements Are Used There was a time when most people heard about prenuptial agreements only when watching soap operas or Hollywood movies or reading a novel. For many of us, prenuptial agreements seemed [...]
Gifts That Your Family Will Love But The IRS Won’t Tax Making Tax-Free Annual Exclusion, Medical-Payments & Educational Gifts To Benefit Your Loved Ones Do not let constant political and financial speculation prevent you from making tax-free annual exclusion, medical-payment, and educational gifts to or for the benefit of your loved ones. Annual Exclusion [...]
