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Estate planning is a crucial step in securing the financial future for you and your family. However, it requires careful consideration to ensure sound decisions are made. Both wills and trusts outline how your assets will be distributed after you pass away and designate an individual to execute these instructions. Despite these similarities, wills and...

Having an estate plan is a key financial step for everyone, regardless of your wealth or financial situation. At its core, estate planning involves making decisions about what should happen after you pass away or become incapacitated and unable to make health-related or financial decisions on your own. Documenting these decisions is important to ensure...

The federal estate and gift tax exemption may be halved soon unless Congress acts. Because it is unclear what will happen to the significant tax break, many wealthy individuals are being advised to make large transfers under the cap before 2026. In Arizona, acting before the deadline could lead to substantial tax savings and a...

Generational wealth loss refers to the decline or disappearance of wealth that was accumulated by one generation but fails to be maintained or passed down to subsequent generations. This phenomenon can occur for various reasons that often include: Financial mismanagement, such as poor investment choices, excessive spending, or risky financial behavior by the heirs of...

In Arizona, navigating the process of settling a deceased person's estate can often lead to legal confusion and disputes among beneficiaries. However, with the help of an experienced probate lawyer, you can ensure that these disputes are effectively resolved and that you remain in compliance with Arizona estate laws. A probate lawyer is a state-licensed...

When it comes to estate planning, wills and trusts define how an individual's assets are distributed after their death. However, not all wills and trusts go unchallenged. In Arizona, there are specific grounds to contest wills and trusts. Contested wills and trusts refer to legal challenges brought against the validity of these documents. Contesting a...

A proper estate plan can help prevent the pains of probate. Probate, the process of appropriately distributing an individual's assets following their death, can be a lengthy, expensive, painful, and public process that many people would like to avoid. And some can. Staying out of Arizona probate court may not be possible for everyone -...

Securing your legacy with a legal will protects your wishes and family. The holiday season in Arizona is a time of joy, family gatherings, and reflection. While many use this time to exchange gifts and create lasting memories, it's also an ideal opportunity to engage in meaningful conversations that extend beyond the festivities. One important...

In estate planning, a guardianship creates a legal relationship where a guardian takes responsibility for someone known as the ward. That someone can be a child or a disabled person. Courts appoint legal guardians who gain the authority to manage a ward's personal or financial affairs. Wards, be they minors or incapacitated individuals, need someone...

Recent research highlights a troubling trend among older Americans: a declining number are writing wills. This decline in estate planning has far-reaching consequences that extend beyond the individual. It creates significant challenges for their surviving loved ones. The attorneys at The Law Firm of Brown & Jensen discuss the downward trend in estate planning among...