How You Hold Title to Real Property May Create a Real Life Problem
If you were a married couple living Arizona, you had three options as how to hold the title to real property in Arizona. The choices were:
joint tenants with right of survivorship ("JTWROS") and
tenants in common.
Now, under A.R.S. § 33-431, there is a fourth option - community property with right of survivorship ("CPWROS").
Prior to the existence of CPWROS, if … Read More
Transfer of Small Estates without Probate in Arizona
Effective September 2013, small estates in Arizona increased in the value of assets that may be transferred without requiring a probate of the decedent's estate.
On April 16, 2013, Governor Jan Brewer signed into law Senate Bill 1232, which amends A.R.S. §14-3971 governing the collection of personal property, vehicles, and succession to real property by affidavit. Therefore, decedent's estates … Read More
Afterlife Identity Protection: Who to Notify When a Loved One Passes
When a loved one passes away, a crucial step in minimizing the risk of identity theft is to notify the proper entities, such as government and credit reporting agencies, banks, and creditors of your loved one's death.
To expedite notification, the National Funeral Directors Association (NFDA) recommends that you initially make contact with government and credit reporting agencies, banks, and creditors by … Read More
Don't Make the Grave Mistake: Avoid Making Duplicative Payments for Final Services!
Have you ever considered paying in advance for your funeral/burial expenses to save your loved ones the financial burden? If your finances allow you to do so, pre-paying for funeral/burial services is an efficient and effective step in your estate planning that can alleviate the often onerous task for your loved ones to undertake while grieving. A few words of caution if you do pre-pay for funeral/ … Read More
Thieves Pursuing Identities of the Deceased: Estate Plan Now!
Identity theft not only violates its victim's privacy rights, but often presents overwhelming challenges which can take years to repair the damage inflicted on one's credit and financial records. To add pain to misery, today millions of Americans are being haunted with an even more disturbing threat: criminals are now using the identity of a deceased loved one to apply for credit.
An ID analytics … Read More