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 many ways to accomplish […]
Newsletters Archive
REAL ESTATE LAW UPDATE: October 2021What 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 […]
Tax Law Special Report: December 2020 If Someone Calls You and Says They Are From The Government, Then Makes Demands Or Threats, They Are Trying To Rob You
I can say without hesitation that no government agency will do any of the following: (1) ask you to pay a debt to a government agency with a prepaid debit card or a gift card. (2) demand payment of a debt to a government agency without having told you first, in writing, how much they […]
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 2019Is 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 […]
ESTATE PLANNING LAW REPORT: October 2019 I Can Give You Lots Of Good Reasons To Get Your Estate Planned
A business looking to get referrals for estate-related services recently sent me a copy of its newsletter. It is one of those reverse “10 best reasons” lists. This one just happens to address a subject I know something about. Its title is: “The 10 Best Reasons NOT To Do Your Estate Plan.” Naturally, I agree […]
ESTATE PLANNING LAW REPORT: August 2019 As With Many Matters of Life and Death, If You Want Someone To Do Something, Give Them Written Instructions
A loyal reader recently told me about a situation in which a deceased family member’s remains were relocated, without the consent of the deceased’s children, long after burial. I have heard of, and dealt with, more than a few disputes involving remains, but I had never heard of a situation quite like the one my […]
REAL ESTATE LAW UPDATE: July 2019What Do You Mean, I Can’t ____________(fill in the blank) On My Own Property?
This might become a regular series. You may recall that in my May Update, I wrote about California property owners who got into trouble for moving dirt and trees on their property because doing so violated a conservation easement. I received many responses to that newsletter, most of them to the effect of, “how could […]
REAL ESTATE LAW UPDATE: June 2019One Newsworthy Item Out Of The Recent Legislative Session: A Change To The Arizona Residential Landlord and Tenant Act Concerning Partial Rent Payments
When the Arizona Legislature completes its session, there’s naturally a lot of interest in what new laws have been adopted. Sometimes there’s less to those changes than meets the eye. The news reports on the just-concluded legislative session gave considerable attention to a change in the laws governing residential landlords and tenants, but on closer […]