Regardless of age, wealth, or income, estate planning—which includes creating a revocable living trust and a last will and testament—is an essential procedure that everyone should go through. It’s a means to ensure that your financial and personal affairs are handled according to your preferences through meticulous estate planning, and it provides peace of [...]
Are you prepared to secure your future in Arizona? Discover the top ten compelling reasons why estate planning in Arizona stands out as the most intelligent choice for safeguarding what matters most to you. From protecting your assets to ensuring your loved ones are provided for, estate planning offers a comprehensive solution. By understanding [...]
Published 11/04/2022 Dyer Bregman & Ferris, PLLC and Wong & Carter, PC are pleased to announce the merger of their law firms. As Dyer Bregman Ferris Wong & Carter, PLLC (DBFW&C), the new firm will continue to provide the highest quality legal services for which its predecessor organizations have become well known over the [...]
Once an irrevocable trust has been finalized it cannot be terminated, whether that occurs upon the grantor’s death or during their life. Set up with the help of a trust and probate attorney, trust account rules state that once property is placed into an irrevocable trust account it cannot be retrieved by the grantor. A [...]
With the recent news that TurboTax will no longer allow electronic filing of state tax returns because of the high incidence of fraud stemming from identity fraud, you may find the 2 fact sheets released by the IRS on January 26, 2015 interesting. Click on the following links to read the fact sheets: FS #1 [...]
I usually refrain from commenting about proposals making changes to the tax code that, in my opinion, have no chance of passing in the current Congress. But I am making an exception in this case because within the majorly flawed proposal is a kernel of truth that is intriguing. As background, you should be aware [...]
In Clark v. Rameker, the United States Supreme Court recently (June 2014) decided that inherited IRAs were not entitled to bankruptcy protection under the federal bankruptcy code. Although inherited IRAs continue to remain protected in bankruptcy under the Arizona exemption laws, many descendants inheriting IRAs from Arizona decedents may live outside Arizona and their inherited [...]
I first wrote about using an Arizona beneficiary deed to avoid probate on November 13, 2012. A recent decision of the Ninth Circuit Bankruptcy Appellate Panel reveals a major shortcoming that should affect the popularity of beneficiary deeds. In Jones v. Mullen, BAP No. AZ-12-1644-DPaKu, the panel decided that the debtor’s interest in real property [...]
As of January 1, 2013, the Bush era tax cuts will expire and whether we go over the fiscal cliff or not, there are issues of concern to all investors, including retirees. The 15% tax rate on dividends will expire and recipients will pay tax on those dividends at their marginal tax rate up to [...]