ON SALE NOW: ARIZONA ESTATE ADMINISTRATION ANSWER BOOK
2nd EDITION - NEW AND IMPROVED
Practical Answers to Common Questions for Any Size Estate in Arizona
By: Thomas J. Bouman, Arizona Attorney
SEE BELOW FOR MORE INFORMATION AND HOW TO PURCHASE
The Arizona Estate Administration Answer Book is your best resource for understanding practical issues that commonly arise when responding to the death of an Arizona resident or property owner. Each chapter provides advice and explanations to help you wade through the complex, and often bizarre, legal requirements associated with estate and trust law in Arizona. Written in easy-to-read question and answer format, the Arizona Estate Administration Answer Book covers a comprehensive list of legal and non-legal matters including:
Written in easy-to-read question and answer format, the Arizona Estate Administration Answer Book covers a comprehensive list of legal and non-legal matters including:
•Who has authority to make the final arrangements? •Where are the military cemeteries in Arizona? •What if a bank refuses to permit access to the safe deposit box? •What if the will was signed in another state? •Who is entitled to information about the deceased person’s assets? •When is a probate action required? •What debts are the survivors responsible for? •What options are there for transferring money to a minor child? •What if the property owner was not an Arizona resident? •Will the State take the home if the deceased person was on ALTCS?
PRINT: $19.99 (ISBN 978-1--304-12531-6) EBOOK: $7.99 (USE KINDLE APP)
Note: Second edition was published June 19, 2013.
Note: Paperback version available from Barnes & Noble: PURCHASE NOW Note: E-book version is available exclusively on KINDLE APP: PURCHASE NOW Note: Paperback version available to borrow from Pima County Public Library: RESERVE NOW
THIS MONTH'S FEATURED "WHAT YOU SHOULD KNOW" ARTICLES
"What You Should Know" topical Q&As. Brief and to the point.
By: Thomas J. Bouman, Arizona Attorney
SEE ARTICLES PAGE ON WEBSITE FOR ENTIRE LIST OF ARTICLES
ESTATE PLANNING (Click on title below to view article)
1. What is the importance of bank account titling? 2. What are the ways to title a bank account? 3. What is a Pay-on-Death Designation? 4. May an Investment Account have a Pay-on-Death Designation? 5. Why not name Child as joint owner of all accounts owned by a Parent?
ESTATE SETTLEMENT (Click on title below to view article)
1. What is Probate? 2. When is a probate action required in Arizona? 3. What is the process for opening a probate? 4. What are the steps in a typical Probate? 5. What is the difference between formal and informal probate? 6. How much does a typical probate cost?
ASSET PROTECTION (Click on title below to view article)
1. What are Asset Protection Exemptions? 2. What are drawbacks of relying on Asset Protection Exemptions? 3. What are some of the Asset Protection Exemptions? 4. Is life insurance protected by law? 5. Are retirement account assets protected by law?
INITIAL ESTATE PLANNING CONSULTATIONS ARE STILL FREE
I provide free initial consultations to all prospective estate planning clients. The usual topics include wills, living trusts, and powers of attorney. The purpose of the free consultation is to become acquainted with each other and decide whether we are a good fit. You will have an opportunity to share your "story" -- tell me what is unique about you and your situation, plus share any concerns you feel that I should know about. I will educate you about your estate planning options and review my fixed fee schedule with you. There is no obligation to proceed.
DO-IT-YOURSELF LIVING TRUST REVIEW
Several years ago I created a 12 page checklist to review a prospective client's current living trust document. The worksheet may alert you to weaknesses in your trust document and bring new planning opportunities to your attention. The worksheet is available for download here:Trust Review Worksheet (pdf)
THREE REASONS TO HIRE ME AS YOUR PROBATE ATTORNEY
1. Unparalleled Transparency
My law practice features unparalleled transparency during the probate or trust administration process. At the start of the project I will give you a checklist showing every task to be completed, so that you can follow along during the process. You will always know exactly what is supposed to happen next. There will be no secrets about what I do or surprises about what I don't.
2. No Hourly Billing
I agree to a fixed fee before any project -- even for probates -- , so that you will always know exactly what the total fee will be. My fixed fee schedule is fair, competitive, and consistent.
3. Access to my Password-Protected Probate Briefcase
After you hire me, I will give you password access to my “Probate Briefcase,” which is an online collection of forms, memorandums, and website links that I personally manage to assist clients like you with administration of an estate. Also included are lists of accountants, financial advisors, realtors, and other lawyers I know and trust.
Sample password-protected memorandums include:
- Notice Requirements
- Preparing an Estate Inventory
- Receipts, Releases, and Waivers
- 645 Tax Election
TEN ALTERNATIVES TO LEAVING INHERITANCE OUTRIGHT
Any simple will can leave inheritance outright to a beneficiary. But is it really the best option? Probably not. What if you have a favorite charity or cause that you want to support, or your beneficiary is under age 18 or mentally-disabled or physically-disabled or a spendthrift or irresponsible or likely to get divorced or dealing with creditor and bankruptcy issues, or in a high risk profession for getting sued, or very wealthy, or married to someone you don't trust, or receiving needs-based government benefits, or unable or unwilling to take over management of whatever property or business you currently own, or you just think it would be unwise to leave a windfall to someone in one lump sum? These are some of the reasons to consider an alternative to leaving inheritance outright.
(Note: All traditional trusts permit a trustee to distribute funds for health, education, maintenance, or support.)
Held in temporary trust for beneficiary, with remaining balance distributed outright when beneficiary reaches age .
Held in temporary trust for beneficiary, with remaining balance distributed in stages by age. For example, 1/3 of trust at age , 1/2 of remaining balance at age , and all of remaining balance at age .
Held in temporary trust for beneficiary, with remaining balance distributed in stages by time. For example, 1/3 of trust immediately, 1/2 of remaining balance  year later, and all of remaining balance  years later.
Held in permanent trust for beneficiary, managed by an independent trustee. For example, a trust for mentally-disabled adult beneficiary or beneficiary with substance abuse problems.
Held in permanent trust for beneficiary, managed by the beneficiary upon attaining age  or an independent trustee chosen by the beneficiary.
Give [$50,000] to charity, then distribute balance to one or more beneficiaries outright or in trust.
Give [10%] to charity, then distribute balance to one or more beneficiaries outright or in trust.
Give [100%] to charitable lead trust, which pays out [5%] annually to charity for  years, then remaining balance to one or more beneficiaries outright or in trust.
Give [100%] to charitable remainder trust, which pays out [5%] annually to beneficiary for  years, then remaining balance to charity or a donor advised fund managed by a community foundation [WaterStone].
Give [100%] to donor advised fund managed by a community foundation [WaterStone] or to a private family foundation.
I present the information on this web site as a service to legal consumers, my clients and other Internet users. While this site does provide information on law-related topics, it does not provide legal advice. Moreover, due to the rapidly changing nature of the law and my reliance on information provided by outside sources, I make no warranty or guarantee concerning the accuracy or reliability of the content at this site or at other sites to which we link.
Web site visitors who wish to send initial information to an attorney by e-mail must understand that this information is not yet protected by attorney-client privilege. Likewise, initial responses to your inquiries are for courtesy only. Pursuant to attorney ethics rules, the initial exchange of information does not constitute an attorney-client, or even attorney-prospective client, relationship. This relationship can only be entered formally; i.e., with terms in writing.
Circular 230 Notice: Pursuant to U.S. Treasury Department regulations, I am required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed therein.
Legal services and published materials are provided by Thomas J. Bouman, PLLC, an Arizona professional limited liability attorney (doing business as Bouman Law Firm). Thomas J. Bouman is the managing attorney. Bouman Law Firm provides legal services to residents of the State of Arizona, and nonresidents with property interests in Arizona. The physical office of Bouman Law Firm is located at 7650 E. Broadway Blvd. #108, Tucson, AZ 85710. Its eastside Tucson location is especially well-suited for persons residing in the following zip codes: 85710, 85715, 85749, 85750, 85748, 85730, 85747, 85711, 85718, 85712, 85641 and the following areas: Tucson, Vail, Rita Ranch, Benson.
All original works on this website are:
Copyright 2000-2014 by Thomas J. Bouman. All rights reserved. Seriously, I'm not kidding.