Dana Law Group, LLC

09/29/2022

If you have dependents in your family, including a person with special needs or minors, you’ll have to appoint a guardian to look after them in your absence. Talk to the potential guardian in advance to get their consent. They don’t have to manage the finances you leave for your dependent’s benefit. Additionally, appointing a couple as co-guardians can get tricky, especially when they divorce. Consult your estate planning attorney to prepare for this eventuality.

09/27/2022

Want to Avoid Conflicts Over Your Final Wishes? Add a No-Contest Clause to Your Arizona Will:

If your friends and family members dispute the will, your estate can get tangled up in a probate court for an extended period.

09/22/2022

Will documentation is a crucial estate planning step you shouldn’t neglect. It shows how your assets should be distributed after your demise. The court won’t accept a will that isn’t documented. In such cases, the court will determine who will acquire your estate. So, draft your will with complete scrutiny and verify the document to prevent complications

09/19/2022

Don’t leave an electronic mess in your estate plan!

Many people don't realize the extent of their electronic and digital lives and the potential problems they're leaving for others to deal with.

09/16/2022

Oftentimes, family conflicts are kept hidden when you’re alive. They may erupt after your demise. Usually, the estate plan details result in or escalate family resentments or disputes. If you don’t acknowledge family conflicts, you’re setting up your estate planners for frustration. Additionally, having siblings with varying philosophies or personalities jointly inherit a business or property increases the risk of family conflicts and resentments. With the help of your estate planner, you can ensure cohesion among your estate beneficiaries.

09/13/2022

A power of attorney allows someone to take care of contractual matters. It is most often needed when someone is incapacitated. The biggest need for power of attorney during incapacity may be to talk to the insurance company about paying medical bills. A power of attorney may be needed for something as mundane as dealing with the utility company when the utilities are off.

09/09/2022

Below is a summary of all the duties you will take on if you accept the important role of executor.

Below is a summary of all the duties you will take on if you accept the important role of executor of an estate.

09/07/2022

With the help of a professional team, including financial and tax advisors and estate planning lawyers, you can get a complete estate plan customized to your specific requirements. This is because each professional in the estate planning process plays a crucial role. The aim of assembling this team is to ensure the distribution of your assets to the relevant organizations and people has little to no confusion.

09/05/2022

Have a great Labor Day!

09/02/2022

Plan for state and federal estate taxes:
When you pass on, your assets could be subjected to estate and inheritance taxes. However, you can minimize these taxes by ensuring simple estate planning and the total estate amount under the threshold. If your inheritances and estates are over the threshold, you can set up trusts to facilitate wealth transfer, easing the tax burden.

08/24/2022

Because our digital assets tend to be virtual in nature, an executor is not going to find them in a search of our home office. We're going to have to leave some additional instructions on what we've created and how the executor is supposed to get access.

08/22/2022

Don't let your estate plan gather dust in a filing cabinet or shelf. Expected and unexpected events in your life (grandchildren, illness or disability, a significant increase or decrease in your net worth) that could affect your wealth and how it should be distributed in the future. Meet annually with your estate planning attorney and financial advisor (if you have one) to review your plan to make sure it still meets your needs and intentions.