Business Succession Planning is not Just a Fancy Term
It can mean the life or death of your business. Let’s say you’re an entrepreneur who has created a successful business, one that clearly bears your image. But have you …
Options Available When Gifting to Minors
The following outlines different methods of transferring assets to minors: OUTRIGHT GIFTSA direct transfer, i.e., the transfer of assets into the minor’s name or establishing a bank account in the …
Estate and Gift Tax Planning Discussion Points For 2024
For a list of questions to ask yourself or your clients to determine the need for a business succession plan contact Jeffrey M. Manley at: jmanley@maypotenza.com or at 602.774.3505.
Prop 208
On November 3, 2020, Arizona voters narrowly approved (51.75% voting “Yes”) Arizona Proposition 208, also known as the Tax on Incomes Exceeding $250,000 for Teacher Salaries and Schools Initiative (“Prop …
SECURE Act and Your Estate Planning
One area you may want to re-visit at this time is your retirement accounts, such as a 401(k) or an IRA. During the final weeks of 2019, Congress and the …
Trustee Notice to Creditors Protects Beneficiaries
Trusts can be a useful tool in estate planning. Trusts provide the settlor (the “creator” of the trust) with added control over the distribution of his or her life’s work. …
Keeping Your Vacation House in the Family
10 Reasons You May Want to Consider Talking to an Attorney If you own a vacation house long enough, eventually you may watch a family saga of some sort – …
Special Needs Trust
Sometimes parents or grandparents set up trusts to benefit children or grandchildren, but when beneficiaries have special needs, a standard trust may not fill the bill. Generally, trusts are appropriate …
Trustee Sales | Advantages
The trustee is an invaluable ally for handling all matters of your trusts and estates. Given that a trustee has a fiduciary duty to act in the best interests of …
Estate Planning Phoenix | Personal Representatives
As part of estate planning Phoenix residents have the right to name someone a personal representative to their will. If you have been named someone’s personal representative, you may have …