For a lot of couples, estate planning in a first marriage can be exhausting and challenging for planning out. Nevertheless, in the event of a second marriage, the process becomes even more challenging. While in the first marriage both spouses usually have the same objectives, a second marriage can create differing objectives on inheritances, financial…
Many people consider estate planning and creating a will the same, however one is just part of the other. Basically, an estate plan is a more widespread plan of action for your assets that may apply throughout your life in addition to after your passing. A will, however, dictates where your assets will go after…
Essentially, portability in estate planning is a tax provision that allows the surviving spouse to add any unused estate tax exemption of the deceased spouse to their own. What Does Portability Mean In Estate Planning? As mentioned above, portability is an estate planning tax provision that allows the surviving spouse to add any unused estate…
In an estate plan, the executor of the estate is an individual responsible for administering the last will of a deceased person, ultimately carrying out the instructions to manage the affairs. What Is An Executor? The executor is appointed by either the testator or the court. Their role is to ensure all assets in the…
When a court orders alimony, it can be granted on a provisional basis, on a time-oriented basis or on a permanent basis. Should the court order temporary alimony, it is going to last for a fixed length of time. The court could order a brief amount of alimony that only applies while the case is…
Divorce always has the possibility to be uncertain; however, for stay-at-home moms, the situation is even more perilous. It’s estimated 1/4th of mothers in the US stay home to take care of their children, whereas only 7% of men can take credit for. Women that have stayed home to raise the children and maintain the…
Alimony, a legal provision, can help balance the scales of economic fairness following a divorce. Calculating exactly how much one ex-spouse receives in alimony depends on a few factors, including length of marriage, both spouse’s financial situation, and established living standards during the marriage. What Is Alimony? Alimony is sometimes called spousal support and is…
Alimony, otherwise known as spousal maintenance, refers to money that is to be paid from one ex-spouse to another following a divorce as determined by the court. In the state of Arizona, the court will determine whether or not a spouse is entitled to alimony. Let’s take a look at how much the average alimony…
If you want to acquire a copy of a will for legal purposes or just out of curiosity, you might be able to get access to it simply by asking for it. Situations sometimes come up when you need to acquire a copy of a last will and testament. For example, possibly you’re looking to…
Durable powers of attorney aid you in planning for medical emergencies and decreases in mental capacity and can guarantee that your finances are managed according to your wishes. Having this documentation in place helps stop confusion and doubt when family members are having to make hard medical decisions. Under Arizona law, the durable power of…
