Estate Planning for Franchise and Multilevel Marketing Business Owners Franchise and multilevel marketing (MLM) businesses are often attractive because they offer people the chance to start a small business with a well-known brand and an established business model. However, they present different estate planning challenges than other types of small businesses because the rights and [...]
Saving for School: Planning for Your Family’s Education According to the National Center for Education Statistics, in the 2018–2019 academic year, the average tuition and fees for a public four-year institution were $9,200; $35,800 for a private nonprofit four-year institution; $3,700 for a public two-year institution; and $18,400 for a private nonprofit two-year institution. If [...]
Summer Vacation Plans? Precautions and Preparations to Consider After months of near confinement in our homes, many of us are stir-crazy and eager to travel to a vacation destination. Although more states are opening up, there are several precautions to consider and preparations to make with your Arizona estate planning attorney as you plan your [...]
Education Funding Flexibility in Light of COVID-19 When it comes to returning to school in the fall, the details may still be unknown. Will students be attending classes in person, or will classes continue to be online? Will college students be allowed on campus, or will they be bunking with mom and dad for the [...]
3 Simple Ways to Avoid Probate Costs The bad news: When a deceased person’s estate (all of their money and property) has to go through probate (the court-supervised process of distributing a deceased person’s money and property), it can be subject to a variety of costs stemming from Arizona probate administration attorneys, executors, appraisers, accountants, [...]
Nosy Neighbor Nellie Can Find Out About Your Probate. Really. Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because wills are filed at the courthouse, probated estates become a matter of public record. That means your nosy neighbor Nellie can [...]
Legal Requirements to Consider When Selecting an Executor The person you choose to be your executor (sometimes called a personal representative) will play an extremely important role, as that person will be responsible for gathering, securing, managing, and ultimately distributing your money and property when you pass away. As a result, you should make your [...]
HELP! This Probate Is Taking Forever!!! After a loved one dies, their money and property must be distributed to the right people, either according to their will or the state’s default distribution scheme (found in its “intestacy” statute). While most people want the settlement process to be done ASAP, probate can take between 18 and [...]
No-Contest Clause: Does No-Contest Really Mean No Contest? We live in a litigious society. Unfortunately, even family members sometimes file lawsuits because they are dissatisfied with what their parents or loved ones leave them in a will or trust. Some are so disgruntled that they decide to contest or challenge the validity of a will [...]
Why Your Marital Agreement Should Be Shown to Your Estate Planner It is not uncommon for couples to enter into marital agreements stating what property is separately owned by each spouse and the property rights each spouse will have in the event of separation, divorce, or death. They are most common when one or both [...]
