What is a living will? It’s a question I get asked more often than you might think. First, a living will is not a will. It also is not a trust (as in a living trust). I think it is unfortunate that the name living will was chosen for this important document, because that name […]
Publications Archive
Tax Law Special Report: January 2019 Individual Income Tax Filing Season Brings Changes
The IRS has announced, in its first news release of the year (January 7, 2019, IR-2019-1), that it will begin accepting 2018 individual income tax returns on January 28, 2019. I had heard that the due date for individual returns would be delayed this year because April 15 is a legal holiday in some places, […]
ESTATE PLANNING LAW REPORT: December 2018 If You Want To Make Sure That Your Tangible Items Go Where You Want Them To Go, Make A Will, Then Make A List
Here’s a question I am frequently asked: how do I take care of distributing my ____________ (fill in the blank: jewelry, or Hummel collection, or gun collection, or other collection of tangible items) among my relatives? The answer I give is this: make a tangible personal property list. A tangible personal property list is a […]
REAL ESTATE LAW UPDATE: November, 2018Is The Way Houses Are Bought And SoldGoing To Change?
An article that appeared recently in the Arizona Republic newspaper reminded me that it is time for an update on a subject that I wrote about a few months ago. The newspaper article was about a residential real estate brokerage operating on what has been loosely described as a “peer-to-peer” platform. If you don’t know […]
REAL ESTATE LAW UPDATE: October, 2018What Is The Homestead Exemption, and How Does It Work?
Most homeowners have probably at least heard of the homestead exemption. Many probably don’t fully understand how it works, however. The homestead exemption protects up to $150,000 of equity in your home from the claims of creditors (with some important exceptions that I will discuss in a moment). What do I mean when I say […]
ESTATE PLANNING LAW REPORT: September 2018 Will My Trust Shield My Assets From The Claims Of My Creditors?
The main purpose of a revocable living trust is to hold your assets in an entity that is separate from you personally, so that if you die or become incapacitated, the assets can be controlled and managed by someone else (your successor trustee) without the need for a legal proceeding to appoint either a personal […]
ESTATE PLANNING LAW REPORT: August 2018 What Is “Funding” A Trust and What Are Other Ways To Leave Things To People Without Using A Will?
I have written at various times in the past about re-titling your assets after you have established a trust, and emphasized the importance of this process. Nevertheless, I still get more questions about it than just about any other topic. So, at the risk of redundancy, I decided that it’s time for a quick review. […]
REAL ESTATE LAW UPDATE: July, 2018 Is There A New Trend In Residential Real Estate Transactions?
I’m reluctant to pick anything out of the news to write about these days because I find so much of what’s in the news to be neither entertaining nor enlightening. Maybe I’m just starting to get tired of summer already. Real estate prices seem to be on the rise again. I’m hopeful that the problems […]
Tax Law Special Report: June 2018 Why Can’t There Be More Opportunities for Tax-Advantaged Savings?
I have previously presented the following question to you, my loyal readers: should the income earned on savings be exempt from income tax regardless of the purpose of the savings? I think so, and I’m not alone, but the idea doesn’t seem to have gained much traction, yet. Under the federal tax code, there are […]
Shareholder James Susa Article Published in Current Edition of Journal of State Taxation
DeConcini McDonald Yetwin & Lacy, PLC is pleased to announce the publication of Shareholder James M. Susa’s article entitled “Taxation On The Reservation – Post Script.” The article, co-authored by Tucson Attorney, Elise S. Pecchenino, provides an overview of the taxation of Native American tribes on reservation land. The article is featured in the […]
ESTATE PLANNING LAW REPORT: May, 2018A Primer On How To Make A Will, Including A Holographic Will
Arizona law requires that a will be in writing, signed by the testator and by two witnesses. A will that does not comply with those requirements can nevertheless be valid if the signature and the material provisions are in the handwriting of the person making the will (that’s the “testator”). A will that is handwritten […]
ESTATE PLANNING LAW REPORT: April, 2018 If A Rescue Organization Presents You With An Adoption Contract For A Pet, I Suggest You Read It Carefully
Reading a blog post about pet rescuers, I came across a link to an adoption contract. It’s a contract that is intended for use between a pet rescue organization and individuals adopting pets from the organization. The contract includes this provision (the typos are in the original as I found it): It is agreed that […]
ESTATE PLANNING LAW REPORT: March, 2018 Should You Have A DNR ?
I have written in the past about the prehospital medical care directive, also known as a “do-not-resuscitate” instruction or “DNR.” I am asked about it frequently, but not many people actually sign one after I explain it to them. The law on the DNR is actually relatively straightforward, although it seems that few people have […]
REAL ESTATE LAW UPDATE: February, 2018 Rules of the Road For Your HOA’s Design Review Committee
A faithful reader, appraiser Steve Cole, suggested that in my next Update on the subject of homeowners’ associations, I should discuss the ins and outs of architectural review, also known as design review. If you have ever lived in a neighborhood governed by, or otherwise had to deal with, a homeowners’ association, you have probably […]
ESTATE PLANNING LAW REPORT: January, 2018 How Do You Make An Organ Donation As Part Of Your Estate Plan?
I have written in the past about Donate Life Arizona, also known as the Donor Network of Arizona. It’s part of a larger organization called Donate Life that calls itself an organ procurement organization. It facilitates organ and tissue donation in Arizona and other states. Arizona law contains specific directions for how to make an […]
REAL ESTATE LAW UPDATE: December 2017 What’s Wrong With Tiny Houses?
A recent item in the Arizona Daily Star told about plans to install (“build” isn’t really the right term, for reasons that will be clear in a minute) tiny houses in the Vail school district for teachers to live in. I’m staying completely away from the debate about whether or not this is the right […]