June Review: From Politics to Very Special Pets
With July less than a week away, it’s time for our monthly edition of elder law news and developments. For the June review, there’s politics, planning, and some very, very special pets. Political Developments June 14 was World Elder Abuse Awareness Day, and President Biden issued a proclamation to “highlight the signs of this crisis, […]
Can a Conservator Change the Beneficiaries on an Account?
Can a court-appointed conservator change the beneficiaries on an individual’s investment accounts? It’s a question that comes up from time to time, and there is no clear answer. First, some definitions of terms. In Arizona, a conservator is appointed to handle the finances of a person who is in need of protection. That’s different from […]
2026 Estate-Tax Sunset on the Horizon
In a little more than two-and-a-half years, it will be 2026. That’s when the historically high estate tax exemptions are scheduled to sunset to $5 million, the 2017 level, adjusted for inflation. Most think that number will be around $7 million. 2026: A Crystal Ball Would Be Nice Obviously, Congress and the president can change […]
How We Actually Use ABLE Act Accounts
We’ve written and talked about ABLE Act accounts before. But we’d like to revisit the subject with a very practical update. Let’s answer the question: how do we actually use ABLE Act accounts in our practice today? Start with a recap: what’s ABLE? Before we get practical, though, we do need to review the concepts. […]
May Review: Brace for Change, Breathe for Brains, Buy Stuff
Each month, we pause and look back at news and developments in elder law. For the May review, there’s news in the Arizona legislature and more: May Review of Arizona News The Arizona legislature is aiming to make changes in probate, which we wrote about earlier this month. Already law is the creation of a […]
Change May Be Coming to Guardian/Conservator Law
In the Arizona Legislature, the landscape can change quickly. About a month ago, we noted that Arizona’s current legislative season was a fairly quiet one for state planning and elder law purposes. Not so much anymore. Though the First Regular Session of the 56th Arizona Legislature was scheduled to wrap up April 22, lawmakers are […]
Trustee Needs a Lawyer in Court Proceeding
It’s a question that comes up surprisingly often. Can a trustee represent herself in a lawsuit? In other words, does a trustee always need a lawyer in court? The short answer (there is some nuance): yes, a trustee needs a lawyer in court proceedings. Letting a non-lawyer trustee appear in court directly would amount to […]
Gift to Charity via an IRA? It’s Not Always Easy
Charitable intentions and retirement accounts can be a potent estate planning combination. Traditional IRAs are funded with pretax dollars and grow tax free, but income tax comes due when the money comes out, whether during the account owner’s lifetime or after their death. Giving a charity a taxable retirement account maximizes an estate’s impact: The […]
What About a Special Needs Trust for Your Nephew?
You have a grandchild, or niece or nephew, with a developmental disability. You’d like to leave him (or her) some money in your will. Do you need to create a special needs trust for your nephew? The basic rule First, let’s be clear. Please do not leave your nephew any money outright. Say, for example, […]
April Review: Boomers, Trusts, and Tupac
Can you believe May is less than a week away? That means it’s time to share our April review of developments in elder law: Boomer Trends Our April review turned up several items related to the aging of the baby boomer generation: The economy. Conventional wisdom says baby boomers’ aging spells doom and gloom for […]