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October 2018 Archives

What are your estate planning options for your timeshare?

If you own a timeshare, you may be considering leaving it to one or more of your children. Whether it's been the destination for family vacations over the years or it's something you and your spouse bought when you retired, you may want your kids to continue to enjoy it after you're gone. However, that particular inheritance may end up being more trouble and expense than you (or they) ever imagined.

You've been asked to be an executor. Should you accept?

A loved one is drafting their estate plan and has asked you to be the executor of their estate. You're likely flattered by the request and they're trusting you with a big responsibility. Many people automatically agree to do it, in part because they don't want to give any real thought to their loved one passing away. However, that day will come, sooner or later. You owe it to that person to give some serious thought to the request before giving your commitment -- or declining.

What powers of attorney should you have when your kids turn 18?

If you're the parent of a college student or other young adult, part of you likely still considers them your little girl or boy. However, under the law, once they're 18, there are certain rights you no longer automatically have because you're their parent.

The importance of estate planning for singles

If you were never married and have no children, you may think there is no reason for you to consider creating an estate plan. However, the opposite may be true. In fact, those who are married with children may have built-in protections that you do not have because of your single status.

Can your spouse be required to pay your legal fees in a divorce?

Even relatively amicable, uncomplicated divorces cost money. When you hire an attorney, you will have to pay them for their time and services. However, having an attorney who knows how the process goes, understands Arizona family law and will work to get you a fair settlement can save you money in the long run.

Navigating parent-teacher conferences with your co-parent

One school activity that separated and divorced parents need to find a way to navigate is parent-teacher conferences. Whether it's a regular conference to discuss your child's progress or there's an issue that a teacher needs to discuss with you, parents must determine whether they're able to put aside their differences and attend these meetings together, to meet with the teacher separately or leave it to one parent to handle.

What is the generation-skipping transfer tax?

As you develop your estate plan, you've decided to leave some property or other assets directly to your grandchildren. Perhaps you have a vacation home that your adult grandson particularly loves and takes his own family to regularly. Maybe you have an art collection that your granddaughter has expressed interest in and would appreciate more than anyone else in the family.

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