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LEGAL
ESTATE PLANNING BASICS: THE REVOCABLE LIVING TRUST – PART TWO By Libby Banks much smoother wrapping up of your estate.
Last month I wrote about incapacity planning using the Re- OTHER REASONS TO vocable Living Trust. This time CONSIDER A TRUST we’ll talk about the advantages such a Cost: When considering the choice trust gives your family at your death. between a Will based estate plan and a Trust based estate plan, consider A REVOCABLE LIVING the cost. My price for a basic probate TRUST AVOIDS PROBATE is more than the average amount I AND THE COST OF COURT charge for a Trust.
INTERFERENCE AT DEATH
A Trust that holds all of your assets Types of property: If you have real will avoid the need for a probate and estate, especially more than one propthe public disclosure of your assets on erty, a trust makes it easier to wrap up your death. With a Trust, the person the estate. you appoint to wrap up your estate can do so quickly and in private. They can Out of state property: If you have gather, sell, and distribute your assets real property out of state, a trust is to beneficiaries with no court involve- imperative. Otherwise, you may end ment. up with two probates: one here, and one in another state. A Will requires probate. The person you have designated to wrap up your Family situation: Do your children estate must file an application with get along? Do you have children the court and be appointed by the from this marriage and from a previcourt before they can do anything. ous marriage or relationship? These Yes, even if your Will says who is to situations can be fraught with diffiact, it doesn’t give them the author- culties. With a Trust, we can provide ity to do so. Only the court can do for all the contingencies and be sure that. The Will doesn’t automatically your money goes where you want it to transfer property either. Instead, your when you are gone. personal representative must be court appointed, and only then can they There are many factors to consider sign a deed to transfer the property. A when deciding whether to use a Will probate court proceeding can be both or a Trust in your estate planning. costly and public. Anyone can look To learn more, call our office for an at the documents filed with the court. appointment, or go to my website at A Trust provides both privacy and a www.Libbybanks.com.
Robert E. Pastor Tiffani E. Lucero
3200 N. Central Ave., Ste. 2550 Phoenix, Arizona 85012 602-279-8969
The Four Stages of Transition (part 2)
By Renee A. Hanson, CFP®, CEP®, CDFA®, winning the lottery. The numbness of trying to CFS®, ChFC®, APMA® comprehend what just happened often prevents
The Stages of Transition can offer making. insight to our behavior during uncertain The Ending stage may create periods of periods. The first stage of transition is struggle that prevent people from making Anticipation. Stage 2 is Ending. decisions – which could be detrimental to their
Ending is the actual event that we experience, financial well-being. I believe the steps to clear such as a move, a divorce, death of a family the way for effective decision-making is to member, or perhaps a retirement. It is the time in determine what needs to be addressed right which the experience we anticipated or expected now and what can be set aside for a later time. finally transpires. There is no going back. Are you or someone you care about anticipating
Ending can be a period of great emotion, a change or experiencing an Ending? As a including both a sense of loss and perhaps financial advisor, I can help you sort out what a sense of relief over the event. For example, financial steps to take next and provide support when people move they may grieve over the to help you take appropriate action. Call me at loss of a beloved home full of memories while 602.923.9800 to schedule a complimentary still being very relieved and excited to make new initial consultation. memories in their next home. Other endings may provide the same, though less comfortable, THIS IS A PAID ADVERTISEMENT. emotions. An example could be losing a family the mind from being able to move to decision member who has been ill for a period. A person Renee Hanson CFP®, BFA™, CEP®, CDFA®, CFS®, Private may grieve the loss of their loved one, yet still be Wealth Advisor, Certified Divorce Financial Analyst® with Affinity riddled with shame or guilt for feeling relieved to Wealth Advisory Group, a private wealth advisory practice of Ameriprise Financial Services, Inc. located at 7010 E Chauncey not have to deal with the health complexities any Ln, Ste 200, Phoenix, AZ 58054. longer. This feeling may remain private for fear The views expressed here reflect the views of Renee A. Hanson of being judged by others, but it creates internal turmoil. as of July 9, 2019. These views may change as market or other conditions change. Actual investments or investment decisions made by Ameriprise Financial and its affiliates, whether for its own
This Ending stage is about change account or on behalf of clients, will not necessarily reflect the views management. Our perceptions of change can influence our outlook and how we manage expressed. This information is not intended to provide investment advice and does not account for individual investor circumstances. Certified Financial Planner Board of Standards Inc. owns the change. It is the proverbial one door closing certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and the next one opening. We must determine if and CFP (with flame design) in the U.S. we are going to stare at the closed door or walk The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or through the open one. recommendations. Investment advisory products and services are made available Putting the needs of clients first is the approach I believe in. I’ll work with you to find the right financial solutions to help you plan for your unique goals. And together, we’ll Some endings are not anticipated, and the initial work of Ending is absorbing the shock of the event – whether it’s a death or a layoff or through Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial Services, Inc. Member FINRA and SIPC. © 2019 Ameriprise Financial, Inc. All rights reserved.track your progress over time, adjusting your plan along the way to help get you where you want to go.
Renee A. Hanson CFP®, CEP®, CDFA®, CFS®, ChFC®, APMA®
Private Wealth Advisor
Affinity Wealth Advisory Group
A private wealth advisory practice of Ameriprise Financial Services, Inc.
602.923.9800
7010 E. Chauncey Ln Ste 200 Phoenix, AZ 85054 renee.a.hanson@ampf.com affinitywealthadvisor.com
Ameriprise Financial Services, Inc. Member FINRA and SIPC.
The Taradash Team was founded in 2011 and is currently home to 15 loan originators who are supported by a staff of production managers, processors, underwriters and funding department. The Taradash Team has two locations, one in Scottsdale, A rizona and one in Temecula, California. The Taradash Team has successfully closed over 600 loans totaling $168 Million in 2018 alone!
We don’t just meet expectations; we exceed them! Tiffany Taradash NMLS #: 208707 AZ LO# 0912848 CNN Mortgage Loan Originator
Direct: (480) 296-7800 | Cell: (480) 205-5390 eFax: (480) 522-3001 Email: tiffanyt@cnnmortgage.com
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