Newsletters Archive - DeConcini McDonald Yetwin & Lacy, P.C

ESTATE PLANNING LAW REPORT: June 2023:
How Will the Revised Uniform Fiduciary Access to Digital Assets Act Apply To Your Estate?

Forty-five states in the United States have now adopted the Revised Uniform Fiduciary Access to Digital Assets Act (the RUFADAA). As adopted in Arizona, the RUFADAA defines a “digital asset” as “an electronic record in which an individual has a right or interest.” What does that mean, and how is it going to be applied […]

ESTATE PLANNING LAW REPORT: February 2023:
Do You Want To Give Your Decision Maker Control Over Who Can Visit You?

Do you want to give your decision maker in your health care power of attorney, or your durable power of attorney that includes health care decisions, the authority to limit, restrict or prohibit contact between you and any other person, without prior court approval? Well, now you can! I’m told that this new addition to […]

Tax Law Special Report: November 2022
If You Own a Corporation, A Limited Liability Company, or a Limited Partnership,You Need To Know About This New Reporting Requirement

Rules to implement federal legislation called the Corporate Transparency Act were announced by the federal government on September 29, 2022. Those rules require all corporations, limited liability companies (LLCs), and limited partnerships formed in the United States to report the personal information of every individual who owns at least 25% of, or exercises “substantial control” […]

REAL ESTATE LAW UPDATE: August 2022
Be Careful About Buying Property In Co-Ownership

by Nathan B. Hannah When two or more people buy real estate together, they usually do it in such a way thatthere is a prearranged method for un-doing the ownership, at least in some circumstances.The most common example is when two people buy real estate as joint tenants with rightof survivorship. If one of the […]

ESTATE PLANNING LAW REPORT: May 2022:
Ways To Leave Things to People Outside of a Will

by Nathan Hannah, Attorney Some of you have heard me say that probate is the process of changing the ownership of assets that are owned by someone who has died. More broadly speaking, that’s really what estate planning is all about. It’s setting up mechanisms to pass ownership of your assets to your beneficiaries. There are […]

REAL ESTATE LAW UPDATE: October 2021
What Is The Homestead Exemption, How Does It Work, and What Has Changed

Nathan B. Hannah is a Shareholder in the Tucson office, and practices in the areas of estate planning and administration, real estate, and commercial transactions. He is also a noted blogger, and you can find more of his articles on his private blog, Contact Attorney Hannah: nhannah@dmyl.com or 520/ 322-5000 This communication is designed to bring legal […]

REAL ESTATE LAW UPDATE: June 2021
Do You Need A Property Assessment Profile? Probably Not

I know I have written about this before, but since I can’t remember when that was, and I can’t find it in my archives, I decided it’s time to address the subject again. Shortly after I recorded a deed for a client a few months ago, the client reported receiving a notice in the mail […]

ESTATE PLANNING LAW REPORT: March 2021
More Frequently Asked Questions About Wills

After I pass away, will there be a formal reading of my will? In Arizona, the answer is no, there will not be a formal reading of your will. In most cases, a will is admitted to probate through what’s called an informal probate proceeding. The will is submitted to the clerk of the court […]

REAL ESTATE LAW UPDATE: May 2020
Do You Have The Right Real Estate Broker Or Salesperson For The Job?

You probably already know that if you are going to buy or sell a house, a parcel of land, or a commercial property, it would be a good idea to utilize the services of a real estate professional who has experience in transactions involving the type of property you are going to buy or sell. […]

ESTATE PLANNING LAW REPORT: April 2020
Frequently Asked Questions About Wills

Here are some frequently asked questions (FAQs) about wills. The rules discussed below are specific to Arizona, but most states probably have similar rules. •Why is it important to preserve an original will? Putting aside for the moment the possibility of an electronic will (discussed in my November 2019, Report) the answer to question of why […]

Tax Law Special Report: March 2020
Why Not Expand The Opportunities For Tax-Advantaged Savings?

I have asked before, and am motivated by recent reports to ask again: do you think the income earned on savings accounts should be exempt from income tax regardless of the purpose for which the savings are ultimately spent? I think so, and I’m not alone. I have been seeing reports that this idea has […]

Tax Law Special Report: February 2020
What’s The Big Deal About The Secure Act?

I have been getting questions about the SECURE Act. That’s legislation recently adopted by Congress that changes certain rules governing the tax treatment of retirement accounts, including when you can put money into or take money out of such accounts. The change that has been talked about the most in estate planning circles is that […]

ESTATE PLANNING LAW REPORT: January 2020
Do I Have To Pay Tax On My Inheritance?

I have addressed in previous reports the tax consequences of gifts and inheritances, but the subject is worth revisiting because I get asked about it frequently. There is a common misconception that inheritances are automatically taxable. Although the reasoning behind that misconception is usually not clearly articulated, or is unexpressed, I think it originates with […]

REAL ESTATE LAW UPDATE: December 2019
Is Home Title Lock A Valuable Service Or Do You Already Have Insurance That Covers That Risk?

Home Title Lock is a service that I have heard advertised recently. The service purports to protect home owners against fraudulent title schemes. To oversimplify it, here’s an outline of the scheme that the purveyors of this service are talking about. First, suppose a thief records a forged deed, transferring title to your home to […]

ESTATE PLANNING LAW REPORT: November 2019
Electronic Wills Are Here, But Are Not Quite Ready For Prime Time

You may have heard about a new law that says electronic wills are now valid in Arizona. I’m not against the concept, but I am reluctant to bring it up now because the new law contains specific rules about the steps that have to be taken to make an electronic will valid, and those steps are […]