THOMAS J. BOUMAN
500+ FIVE STAR REVIEWS AND COUNTING
(ON GOOGLE, AVVO, NEXT DOOR & OTHERS)
TOP 3 ESTATE PLANNING LAWYER IN TUCSON
CURRENTLY ACCEPTING NEW ESTATE PLANNING CLIENTS
INITIAL CONSULTATION FEE: $250
Mr. Bouman offers initial consultations to prospective estate planning clients who reside in Arizona. The purpose of the initial meeting is to become acquainted with each other and evaluate your needs and objectives. The usual topics include wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care directives. You will have an opportunity to share your story and ask questions in a relaxed setting. Mr. Bouman will respond by guiding you through a systematic process to design your unique estate plan. A fixed fee quote will usually be provided, but there is no obligation to proceed. However, we do have some eligibility requirements for prospective clients:
- Must be a full-time Arizona resident or own property in Arizona.
- Must be willing to meet with Mr. Bouman in person at his office for the initial consultation.
- Must own at least $300,000 equity in real estate or $200,000 in non-retirement cash and investments.
- Must be agreeable to pay $250 for the initial consultation.
JUST LOOKING FOR INFORMATION?
WE HAVE ARTICLES TO HELP YOU
This website features more than 35 articles about estate planning, inheritance protection, and estate administration in Arizona. Each article is reviewed regularly by Tom Bouman. Most articles are written in Question and Answer format. They are brief and to the point. You can find some of them by using the estate planning drop-down menu at the top of this homepage or check out the entire library by clicking on the button below.
COMPLIMENTARY
ARIZONA ESTATE ADMINISTRATION ANSWER BOOK
Practical Answers to Common Questions for Any Size Estate in Arizona
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:
The 2022 edition is available for instant PDF download from this website for FREE.
The 2022 edition print book is available from Barnes & Noble Press for $25.
- 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 if the property owner was not an Arizona resident?
- Will the State take the home if the deceased person was on ALTCS?
The 2022 edition is available for instant PDF download from this website for FREE.
The 2022 edition print book is available from Barnes & Noble Press for $25.
YES, ARIZONA RESIDENTS CAN ESTABLISH ASSET PROTECTION TRUSTS - LEARN HOW
This brief video summarizes the mechanics of an Arizona-based asset protection trust. Although Arizona law does not permit the use of self-settled asset protection trusts like some other states do, an Arizona resident may establish an Arizona-based irrevocable trust that provides asset protection for all parties involved. The key to making it work is to name other people as beneficiaries of your trust, such as your spouse and/or children, while prohibiting distributions to yourself.
DO YOU KNOW ABOUT THE
ARIZONA HOME EQUITY PROTECTION TRUST?
An Arizona home equity protection trust (“HEPT”) is an irrevocable trust designed to shield your home equity from future and unknown judgment creditors. If your primary residence is high in value, and you have accumulated substantial home equity, then your home may become a prime target when someone accuses you of wrongdoing (whether legitimate or fraudulent). You may already know that Arizona law protects up to $425,200 of home equity in a primary residence automatically (the “homestead exemption”), but homeowners with more home equity than provided by the homestead exemption should consider retitling their primary residence into an irrevocable HEPT. For example, if your primary residence is worth more than $1 million and you own it free and clear, then you have more than $500,000 exposed to future threats against you. An irrevocable HEPT trust can provide you with additional peace of mind because you will know that no one can force you to move out of your home.
DO YOU KNOW ABOUT THE
ARIZONA MEDICAID ASSET PROTECTION TRUST?
An Arizona Medicaid Asset Protection trust (“MAPT”) is an irrevocable trust designed to exclude your primary residence from being counted as an available resource for Medicaid eligibility purposes. In Arizona, the technique works if you retitle your home into a MAPT at least five years prior to applying for long term care benefits administered by the Arizona Long Term Care System (“ALTCS”) also known as Medicaid. The home is excluded from your countable resource ledger, effectively preventing ALTCS from placing a lien on your home and attempting to recover money from the sale of your home after your death. The trust must be irrevocable with no possible way for you to regain control of the trust assets. However, you may retain an exclusive right to occupy your primary residence without restriction and, if desired, receive income payments from other investable assets you might contribute to the trust.