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
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
If you have taken the time to create a trust based estate plan and have not taken the next step to ensure all of your assets have been transferred (“funded”) properly, then your trust may not accomplish all that you have intended. Please use the following guidelines below to be certain you have funded your trust correctly to protect your legacy … [Read more...] about Your Living Trust is Not Complete if it is Not Funded Properly
Over the course of the last century, the number of U.S. residents over the age of 65 has increased 11-fold, and according to the U.S. Census Bureau, the median age of our population is expected to continue to rise. Where 1 in 25 Americans was elderly in 1900, they now comprise 1 in every 8 residents. By 2050, we can expect that ratio to rise to 1 … [Read more...] about Combating Financial Abuse of Elderly in Mesa
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
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?