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Estate Planning

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Gunderson Denton sur Twitter : "Shocking Truth About Asset Protection Planning #estateplanning #litigation #assetprotection. Shocking Truth About Asset Protection Planning. The Shocking Truth About Asset Protection Planning The goals of asset protection planning are to provide an incentive for settling a claim, improve the client’s bargaining position, offer options when a claim is asserted, and, ultimately, deter litigation.

Shocking Truth About Asset Protection Planning

Five Ways to Make Trusts More Flexible. Five Ways to Make Trusts More Flexible Drafting trust agreements is challenging, but flexibility can address changes.

Five Ways to Make Trusts More Flexible

Phoenix, AZ Trusts that continue for the benefit of a surviving spouse’s lifetime and then for the benefit of several generations have become the norm. Drafting trust agreements that will cover the administration, investment, and distribution of trust property over the span of multiple decades is challenging. When Removal Clauses Backfire. And Then There Was One: When Removal Clauses Backfire Removal clauses on trusts and legal documentation are important for some situations, but Brent Gunderson shows how they can also backfire.

When Removal Clauses Backfire

Mesa, Arizona The well known and complicated litigation involving the sale of the Clippers by The Sterling Family Trust has revolved primarily around one simple clause in a trust agreement. Why You Should Avoid DIY Estate Planning. Becoming a Multigenerational, Purpose-Driven Advisor. Studies have shown that more than 90% of family wealth is lost by the end of the third generation.

Becoming a Multigenerational, Purpose-Driven Advisor

To help clients avoid this, advisors must become adept at bridging the disconnect among generations when it comes to the transfer of family wealth. In this issue you will learn: The main factors that contribute to family wealth lost over the generations.How to help clients overcome their reluctance to discuss their wealth with younger generations.What clients must communicate to younger generations to effectively transfer family wealth.How to build and foster multigenerational relationships. Creating a Wealth Transfer Plan. Studies have shown that 70% of family wealth is lost by the end of the second generation and 90% by the end of the third.

Creating a Wealth Transfer Plan

Don’t let your loved ones become part of these statistics. You need to understand, and work to overcome, the disconnect that occurs between generations regarding the transfer of wealth. In this issue you will learn: The main factors that contribute to family wealth loss over the generations.How you can overcome your reluctance to discuss your wealth with your loved ones.What you must communicate to your family to effectively transfer your wealth.How your key advisors can help you bridge the gap among the generations of your family. If you would like to learn more about multigenerational wealth transfer planning, please call our office now. Why is Over 90% of Family Wealth Lost by the Third Generation? How to Create a Successful, Multigenerational Wealth Transfer Plan Phoenix, Arizona What does money mean to me? Published By:

Trust-Focused Strategies for Reducing Income. With the end of the year approaching fast, now is the time to consider ways to reduce your 2014 income tax bill.

Trust-Focused Strategies for Reducing Income

In this issue you will learn: How charitable trust-based planning can be used to reduce your taxable income.If you are the Trustee or beneficiary of an irrevocable, non-grantor trust (such as a Bypass Trust or Dynasty Trust), how distributions, trust reformation or decanting, and investment shifting can be used to reduce the trust’s taxable income. If you would like to learn more about these trust-focused, income-reducing strategies, please call our office now. A Quick Review of the Federal Income Tax Laws Significant changes to federal income tax laws went into effect in 2013, including: Raising the top tax bracket from 35% to 39.6%.

This means that the top tax rate could be as high as 43.4% for certain taxpayers. Lessons from the Estate of Tom Clancy. How to Protect Inherited IRAs. The Court reached its conclusion based on three factors that differentiate an inherited IRA from a participant-owned IRA: These factors characterize an inherited IRA as money that was set aside for the original owner’s retirement and not for the designated beneficiary’s retirement.

How to Protect Inherited IRAs

This simple analysis has sent shock waves through the estate planning and financial advisory worlds, because its logic is also applicable to all inherited defined contribution retirement plan accounts, so inherited 401(k) and 403(b) accounts are also affected. The Most Important Parts of Estate Planning Can't Get Legislated Away. There is always a media swarm around the death of a celebrity, especially when they’re young, active in their careers, beloved, and tragic.

The Most Important Parts of Estate Planning Can't Get Legislated Away

The death of actor Philip Seymour Hoffman in early February is no exception. Hoffman was an incredibly talented actor who appeared to be in the prime of his career. But that career was cut short by a history of depression and substance abuse His long-time partner found him dead in their Manhattan apartment after Hoffman apparently overdosed on heroin, cocaine, amphetamines, and other drugs. Most often, articles about the estate plans of dead celebrities focus on the legal challenges they raise or the amount of estate tax that could have otherwise been avoided. Estate Planning During A Divorce. Estate plan considerations when the marriage is in trouble.

Estate Planning During A Divorce

The majority of married couples will list each other as at least one of their beneficiaries for their accounts. However, not every married couple will live happily ever after. ElderLaw News. One Very Good Reason to Use a Simple Revocable Trust While a Will works well to name your personal representative and to dispose of your assets in accordance with your wishes, the requirements for filing and proving a Will can be burdensome, especially in some cases.

ElderLaw News

We have experienced cases where the decedent had few close heirs such as children or a living parent or a sibling. Why your kids need their own estate plan - Encore. By Anne Tergesen Once people hit midlife, they typically start focusing on estate-planning issues for themselves and, often, for their elderly parents. But there’s one group that 40- and 50-somethings usually neglect: Their own college-age kids. Tuition? Paid. With back-to-school season upon us, it’s an issue that’s timely to consider. As counter-intuitive as it may sound to ask a young person do estate planning, it’s typically a lot simpler than the kind of strategizing that a couple with substantial assets would undergo.

Due to the Health Information Portability and Accountability Act, or HIPAA, “once your child turns 18, her health records are now between her and her health care provider,” the article says. To prevent such an outcome, Margolis & Bloom recommend that families ask adult children to fill out a health care proxy with a HIPAA release. Mesa Arizona Estate Planning Lawyer. Estate Planning Law at Gunderson, Denton & Peterson, P.C. Wayne Gardner - Arizona Estate Planning Lawyer at Gunderson, Denton, & Peterson, P.C. Photo by gundersondenton. Arizona Statutory Allowances and Exemptions.