Introducing a payable-on-death (POD) or transfer-on-death (TOD) designation to an account facilitates the transfer of assets (including money and property) in that account to a specified beneficiary upon the passing of the original account holder. Similar to trusts, POD and TOD accounts circumvent probate procedures, offering a swift, uncomplicated, and often cost-free establishment process.…
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Being self-employed presents significant challenges. As both the proprietor and, sometimes, sole worker, you enjoy greater autonomy but bear immense responsibilities. Collaboratively, we can devise a thorough estate strategy to assist you in tackling three critical concerns you might encounter. Securing Your Financial Future As the sole proprietor of your own business, you bear…
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Losing a loved one presents challenges on various fronts. Alongside the emotional turmoil of grief, there’s the practical aspect of managing their affairs, including navigating through their accounts and addressing the cancellation or transfer of ownership. Typically, individuals are subscribed to numerous digital services alongside utilities, insurance policies, memberships, medical prescriptions, and other recurring payment…
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*Please see the last section for an important update on the CTA* Beginning January 1, 2024, the Corporate Transparency Act (CTA) mandates certain business owners to file reports detailing ownership information with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). This measure aims to combat various illegal activities such as money laundering,…
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Home theft is commonly linked with offenses such as burglary and home invasion, yet homeowners may overlook the risks associated with title theft. Fortunately for Arizona residents, Maricopa County released their own title fraud self-monitoring system – and it’s free. What is Title Fraud? Title fraud, also known as deed fraud or property fraud, occurs…
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Deciding on a comprehensive estate plan involves considering whether to disclose it to loved ones and how much to reveal. This decision hinges on personal relationships and family dynamics. Sharing your plan may risk privacy, especially concerning significant assets. Weighing pros and cons, you can opt to share selectively or provide a general overview to…
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