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If you are married and have a joint revocable living trust, there’s a good chance your plan should be revised to help your children and beneficiaries avoid income taxes after your death. When Karen’s mother passed away three months ago, she and her three siblings received a much larger inheritance than they had expected. Karen’s…

This past Saturday I had the privilege to see Arizona Onstage Productions of Les Miserables, with its ALL-TUCSON cast.  I was blown away.  The voices, especially the men, were unbelievable.  Many of them could have graced a Broadway stage.  I did not know Tucson had so much talent! Remaining performance dates are Saturday August 16…

With Americans living longer than ever before, many of us will eventually require long-term care. It has been estimated that half of all women, and one in four men, will spend time in a nursing home at some point in their lives. However, the true foundation of our long-term care system is family caregivers, who…

Don’t leave your life insurance death benefit to your estate. Fred purchased a $1 million term life insurance policy after he married Mary, naming her as beneficiary. He did not name a contingent beneficiary. A year later, Mary gave birth to their son Jason. Fred did not update his life insurance beneficiaries after his son’s…

I recently spoke with my twelve-year-old son, Corey, about what it means to have integrity and character. As part of our conversation, I read a passage from Bo Schembechler’s autobiography, co-written by Mitch Albom. (Bo Schembechler coached the Michigan Wolverine football team from 1969 through 1989.) Today, people seem more likely to justify cheating because…

The choices you make when choosing your life insurance beneficiary can have disastrous consequences down the line. Here are three mistakes I’ve seen as an estate planning attorney. 1. It’s not your Will that determines who gets the life insurance money –it’s the beneficiary designation of your policy. If your Will says that your son…

After watching ESPN Gameday’s panel discussion recently on whether college football players should be paid, I thought I’d write a little off-topic this time. Those who favor paying college football players argue that the current system exploits college players because they are unable to profit from their efforts or their likeness even though they generate…

Before attending law school, I worked for the Navy. Jack Cabana, then a mentor and colleague, once told me a story that ended with the following quote: “possession is nine-tenths of the law.” This quote applies well to an often overlooked but very important estate planning piece—the Durable Financial Power of Attorney (DFPOA). This document…

Ever take a close look at a keyboard? Why are the “j,” “k,” and semicolon under your primary fingers and why place the “e,” “n,” “t,” and period where you have to stretch your fingers to reach them? Answer—because on the first manual typewriters, pushing a button caused a key to strike the paper. If…

Many divorced people overlook the need to plan their affairs differently after the divorce. “Mary” divorced her husband while her three children were minors. Understandably, she did not want to list her minor children as her life insurance beneficiaries. If Mary passed away and the insurance paid to her minor children, the court would require…