Estate planning can become a bit tricky if your spouse is not a U.S. citizen. Why? For estate tax purposes, U.S. citizens have a huge tax advantage over non-citizens. Your estate will have to pay federal estate taxes when you die if the net value (assets minus debts) is more than the exempt amount at…
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Happy Thanksgiving from Neal Law Firm! We hope you have a wonderful day with your families.
George Washington’s Last Will and Testament, 9 July 1799 [Mount Vernon, 9 July 1799] In the name of God amen I George Washington of Mount Vernon—a citizen of the United States, and lately President of the same, do make, ordain and declare this Instrument; which is written with my own hand and every page thereof…
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What is a Power of Attorney? A Power of Attorney (“POA”) is a document someone signs (the “principal”) giving someone else (the “agent”) authority to do things the principal could have done if he or she was able. There are two types of Power of Attorneys that people think about. First is the Healthcare Power…
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Today I’m delighted to share an article from my friend Kristin Dorn at the Dorn Agency about today’s hot button issue: health insurance.* What Every Arizonan Should Know About Health Insurance The frustration is mounting with health insurance. The website is a mess. The premiums are higher than many expected. And there’s a lot of…
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As an estate planning attorney, I hear stories every day about common estate planning mistakes and their consequences. Mistakes can vary, but often result in someone not adequately planning to take care of themselves during their life, planning for their disability, and planning for their survivors after passing. With a comprehensive estate plan drafted by…
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Scottsdale trust attorney Abigail Neal is a second generation Arizona native who enjoys helping her clients meet their personal and professional goals. One part of Abby’s practice is creating trusts for clients as part of a comprehensive estate plan. Scottsdale trust attorney Abby Neal is often asked the following questions about trusts: What is a…
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This week is National Estate Planning Awareness Week 2013! In 2008, the National Associate of Estate Planners and Councils (NAEPC) worked with Congress to pass a resolution to proclaim the third week of October as National Estate Planning Awareness Week. The resolution stated “Many Americans are unaware that lack of estate planning and financial…
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Huguette Clark was born in 1906 into a life of wealth and privilege, the daughter of an American copper and railroad baron, raised in a 121-room Manhattan mansion, the city’s largest private residence. She could have enjoyed the high life of parties and travel, but instead opted for seclusion and secrecy, withdrawing from society almost…
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Question: I want to create a trust to provide for my children and avoid probate, but I’ve heard I have to fund it. What is trust funding? Answer: Trust funding is the process of re-titling assets out of your name and into the name of your trust. Do not be confused by the term “funding”. …
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There is a common misconception that estate planning is only for the wealthy so they can minimize their tax liabilities. While this is one part of estate planning, it is certainly not the only part. Even if someone isn’t wealthy or concerned about taxes, there are a number of important non-tax reasons why everyone should…
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Many people never stop to think of how hard a job it is to administer the estate or trust of someone who passes away. Often, it’s a thankless job, filled with headaches. That’s certainly been the case for the Michael Jackson Estate executors: entertainment attorney John Branca and music executive John McClain. Well, at least…
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