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To simplify the organization process, some use software that aggregates all of their financial data, If all the tabs are on the left, you can read the tabs more easily than if some are on the left, some in the middle, and some on the right. These are life insurance policies, homeowner policies, birth certificates, marriage license, immunization Some folks even have a dress rehearsal with those involved to rehearse the various steps necessary to

But some assets don’t get this step-up in basis—like retirement accounts. The tax treatment is the same, and the estate tax is assessed on the fair market value of an asset on

year after the year you turn age 70½, but you have to take a second RMD (the one for age 71) in the same adjusted gross income plus tax-exempt interest income rises above $85,000 if you are single or $170,000 if married

However, in Washington, their proposals haven’t found overwhelming support, as some feel the new legislation His three adult children from a previous marriage and Jean Kasem, his second wife, fought a heated legal

You have invested a lifetime of hard work and savings into your property. All assets in the deceased person’s name must pass through probate before being distributed. This saves significant time, legal fees, and court costs associated with probate. Bypass/Credit Shelter Trust : Commonly used by married couples to double the federal estate tax exemptions

It’s not uncommon to see perpetrators without malintent who are reported, as some caregivers become overwhelmed Arizona has no unique sentencing laws for vulnerable adult abuse cases; these cases have the same potential In Arizona, between 4,600 and 6,900 seniors will experience some type of abuse every year, according

Remember, if you don’t name a guardian, the state will choose one for you. Some of the questions you might consider include the following: Does the prospective guardian share your Your children will most likely have some type of inheritance that needs to be managed carefully, and They don’t have to be the same person.

annual fees of at least one percent on a $100k investment, the difference could be more than $50,000 in savings over 20 years, given the same annual returns.

These documents will allow you to name someone you trust as an agent for these critical decisions and In some cases, estate planning can also help you avoid a protracted probate action.

Married couples can be named co-trustees. You can also name a successor trustee. In some cases, several successor trustees are named in case the previous one is unable to serve. Some people choose a completely unbiased corporate trustee, usually a bank or trust company, who will The following list contains some of the responsibilities that are required of a trustee: Make decisions

For instance, if you deposit $1,000 in a Roth IRA, you can withdraw that same $1,000 at any time, tax-free There are some exceptions to the age rule. Some states have their own forms and wording for creating a power of attorney—forms with which local

For 2015, the exemptions were set at $5.43 million for a single person and $10.86 million for a married The exemptions for 2016 have been raised to $5.45 million for a single person and $10.9 million for a married The amount that may be given to any individual in a single year in 2016 will remain the same as it is For example, the higher exemption only applies to married people if a surviving spouse files correctly