Rules for Determining Heirs in the Absence of a Will
These rules apply in cases where the deceased person fails to leave a will or where not all of the decedent’s assets are disposed of by the will.
What is Probate and What Can You Expect?
/in Estate Planning/by Don LooseThe term “probate” refers to the legal procedure for the administration of a deceased person’s estate. In many cases, probate is a quick and efficient way to transfer the assets of a person who has died to his or her heirs.
How to Settle a Trust After Death
/in Estate Planning/by Don LooseSettling a living trust means administering and managing the trust according to the terms of the document. The person responsible for settling a trust is either the surviving trustee or the successor trustee.
The Essential Duties of a Trustee
/in Estate Planning/by Don LooseThe general duty of a trustee is to administer the trust expeditiously for the benefit of the beneficiaries.
Powers of a Trustee – A Lay Person’s Overview
/in Estate Planning/by Don LooseA trustee cannot transfer his office to another or delegate the entire administration of the trust to a co-trustee or another.
How to Administer a Trust
/in Estate Planning/by Don LooseIf more than one trustee is acting, the trustees own the trust assets with survivorship rights similar to those of joint tenants.
Protecting Trust Assets and Identifying the Trust for Tax Purposes
/in Estate Planning/by Don LooseOnce the trust agreement has been signed and assets have been transferred to the trust, the trust agreement is fully operative as to those assets.
All About Individual Retirement Accounts (IRA)
/in Estate Planning/by Don LooseIn determining how to deal with an IRA during the estate-planning process, various tax considerations unique to each person must be taken into account.
A Simple Trust funding checklist | Assets Checklist
/in Estate Planning/by Don LooseIn most circumstances, a revocable trust will be created primarily for tax and estate planning purposes.
What is an Irrevocable Life Insurance Trust?
/in Estate Planning/by Don LooseThe use of any trust for estate planning purposes ultimately will depend on a variety of factors, including the size and complexity of the estate.
What is a Living Trust and Who Should Consider One?
/in Estate Planning/by Don LooseA living trust is a legal entity that is created and holds title to assets during the life of the person who places assets inside the trust.
Ten Common Misconceptions about Wills
/in Estate Planning/by Don LooseMost estates will not be subject to taxation with or without a living trust.
Types of Wills and Legal Requirements for Creating Your Will
/in Estate Planning/by Don LooseThe law of wills differs from state to state. This chapter is based entirely on Arizona law.
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