Dean Smith–University of North Carolina Basketball Coach for 34 Years—-Leaves $200 To Every Player He Coached The Trustee of the Dean E. Smith Revocable Trust sent out a letter to each per Dean Smith’s instructions left in his will. In the letter, the trustee spelled out Coach Dean Smith’s wishes per the will and the…
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Should I put my investment property into an LLC? Yes! An investment property is real estate that is not your primary residence and is purchased or used in order to generate income by appreciation, leasing, taking advantage of tax benefits or other uses. As corporate vehicles go, the LLC (limited liability company) protects its owner-members’…
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When planning for loved ones, don’t forget to include your furry friends. As our love for our pets reaches new heights, estate planning for pets has become popular. If an owner wants to ensure his or her best buddy is well cared for after he or she passes, it is essential to do some estate…
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Upon the death of a loved one, families face the burdensome task of distributing the property and debts of the deceased. That process—sadly—has the potential to strain familial relationships. With this in mind, Neal Law Firm provides estate planning, including the creation of wills and trusts, in order for individuals to plan ahead and potentially…
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Question: How is an Arizona Beneficiary Deed different from any other Arizona deed? Answer: When most people think of a deed, they think of the typical Warranty Deeds, Special Warranty Deeds or Quit Claim Deeds. As soon as a person signs and records one of these types of deeds (the “grantor”), the legal title of…
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We often get questions about what will happen to a person’s retirement account after they pass. Since one’s retirement account is often one of the largest assets in the estate, passing it to beneficiaries in the most advantageous way possible. Here are five things you need to know about inherited retirement accounts: Will my beneficiaries…
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Question: I want to form an Arizona LLC. I know I need to file articles of organization with the Arizona Corporation Commission, but do I need an operating agreement too? What if I am going to be the only member of the LLC? Answer: Every LLC should have one. An operating agreement is one of…
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When reading over an estate plan, terms such as per stirpes and per capita distribution often appear. These terms describe different ways to distribute property to heirs after someone passes away. While these terms may seem confusing at first, they are deeply embedded in legal tradition and it is important to understand what they mean as part of…
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This summer, the IRS finally released the much anticipated Form 1023EZ, otherwise known as the Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. This is great news for smaller organizations who want to give back to their communities without having a huge operating budget. In addition, it should speed…
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Changing your estate plan can be intimidating. Many do not know know when the appropriate time to do so is, but we have put together this blog to help you better understand. Getting a estate plan in place is a great way to protect yourself, your family and your legacy. When you completed your plan,…
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Procrastinating estate planning is an issue that many have dealt with. Here’s why: Numerous studies show that unfortunately, the majority of people haven’t completed their estate plans. While most people will admit that they know they need to create an estate plan, but they put it off. But why is it that people tend to…
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Heirs are growing more patient, but it might not be why you would think. It is because their inherited doles out more slowly. (Reuters) – When Juliann Reynolds’ husband died of cancer in 1992, she had to decide how to plan her own estate. The now-retired speech therapist from Rancho Cucamonga, California, knew she had…
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