The FDIC recently approved a rule to change how it calculates the amount of insurance is available for bank accounts held in trusts.  Effective 4/1/2024, a trust account will be insured up to $250,000 per beneficiary, not to exceed five,…

A revised 2022 edition of the Arizona Estate Administration Answer Book was recently published by Barnes & Noble Press.Practical Answers to Common Questions for Any Size Estate in ArizonaThe Arizona Estate Administration Answer Book is your best resource for understanding…

A DocuBank membership provides 24/7 access to your health care directives.  You will receive a wallet card instructing medical providers how to instantly acquire copies of these documents, plus any other health-related information you choose to make available.  DocuBank also…

First, the good news:  On 1/1/2022 the Arizona homestead exemption amount increases from $150,000 to $250,000.  The homestead exemption, which is automatic in Arizona, is intended to protect an Arizona resident’s primary residence (“homestead”) from creditors.  But the new law…

No, because the LLC must have a legitimate business purpose.  A business purpose would include providing a service, product, or usable space to an unrelated person or company.  Every small business provides a service or product, or both, to the…

Many people I meet would benefit from an irrevocable asset protection trust, a strategy generally assumed to be too complicated and too expensive.  But I am not referring to families with vast inherited wealth or the Mark Zuckerberg-type entrepreneurs.  So…

In May 2020 the executive council for the Probate and Trust Section of the State Bar of Arizona approved a proposed statute permitting the creation of Arizona qualified spendthrift trusts.  This type of self-settled trust is more commonly known as…