Life Insurance Policy Ownership Pitfalls: What Should I be Aware of?Life insurance can play an important role in an estate plan. Insurance may provide income replacement to a surviving spouse or liquidity to an estate where the majority of the estate’s value is tied up in a family business or real property. Insurance can provide the funds that … [Read more...] about Life Insurance Pitfalls | Estate Planning Attorney Ken Barney
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As an estate planning attorney in Arizona I am always asked if after you have signed your revocable living trust, what if anything should you do about your vehicles or other assets titled through Arizona’s Motor Vehicle Division?First of all, let me remind you, if you have a revocable living trust, the “funding” of your trust (which means … [Read more...] about Estate Planning Attorney | Should I Transfer My Vehicles to my Trust?
[image src="https://www.azlegal.com/wp-content/uploads/sites/22/2015/08/kcb-wills-video-300x167.jpg" link="true" href="https://www.youtube.com/embed/Qu7C41D9D_M?rel=0&version=3&autoplay=1&controls=2&&showinfo=0&loop=1" lightbox_video="true"][lightbox] Arizona Estate Planning Attorney, Kenneth has a video about Last Wills … [Read more...] about Video: Last Wills & Testaments
(Comments Regarding President Obama’s 2015 Tax Proposals)On January 17, 2015, the White House released its fact sheet entitled, “A Simpler, Fairer Tax Code that Responsibly Invests in Middle Class Families.” This fact sheet was released as a precursor to President Obama’s 2015 State of the Union Address and his 2015 Tax Proposals.The White … [Read more...] about Will Congress Close the Trust Fund Loophole? #EstatePlanningAttorney
The question, “who should be your designated beneficiary under your life insurance policy” is a very important family decision that should be made after careful consideration of all relevant family and financial goals in mind.As an experienced estate planning attorney, I strongly suggest if you have a blended family, minor children, disabled … [Read more...] about Who Should Be My Life Insurance Beneficiary? #EstatePlanningAttorney
As an estate planning attorney in Mesa, Arizona I am frequently asked the question by parents: Should I name a minor child as a beneficiary or contingent beneficiary of a life insurance policy? This question has very important legal and financial ramifications that may affect your child positively or negatively for years to come and thus, should be … [Read more...] about Should I Name My Minor Child as a Beneficiary #EstatePlanningAttorney
The unfortunate death of actor Robin Williams in August 2014 has sparked numerous articles, blogs and commentary on his life, family, comedy, mental illness, depression, and his estate plan.Whenever a celebrity passes away, either by natural causes or prematurely by unfortunate circumstances or events, undoubtedly that celebrity’s estate plan … [Read more...] about What Can We Learn From Robin Williams’ Estate Plan? #EstatePlanningAttorney
Arizona Estate Planning & Probate Attorney, Kenneth Barney wants you to take notice: Pursuant to Rule 27.1(A) of the Arizona Rules of Probate Procedure, effective September 1, 2012, all non-licensed persons requesting to serve in any court appointed fiduciary capacity must receive training from the Arizona Supreme Court prior to appointment.A … [Read more...] about New Court Mandated Training for All Persons Serving as a Personal Representative, Guardian or Conservator #EstatePlanningAttorney
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (“2010 Act”), was signed into law by President Obama on December 17, 2010. This Act provided a two year fix to the existing estate and gift tax problem.The 2010 Act substantially increased the estate and gift tax exemption from $1 million to $5 million in 2011 … [Read more...] about The Season of Giving: The “Fiscal Cliff” Coming to the Estate and Gift Tax Laws #EstatePlanningAttorney
Most estate planning practitioners presumed, myself included, that the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), which repeals the death tax, would never make it to 2010.Although the House passed new estate tax legislation in December of 2009, with legislation on its agenda more pressing than the estate tax, including … [Read more...] about Arizona Estate Planning Lawyer | Kenneth Barney | Where Did The Estate Tax Go?