Elder Law Issues

You may have heard about “Swedish Death Cleaning.” It sounds morbid, but we think the odd name embraces a generally good idea. Help your heirs by giving away (or selling, or donating) your “things.” No kidding — it could help your family later.

It’s not the first time we’ve talked about it, but today we want to be more direct. For most of our clients, we think their financial power of attorney is the most important estate planning document we prepare. Let us explain why. And why we think you need to have a durable financial power of attorney for yourself.

What a great New Years Resolution!

At the end of each year, many of our clients consider making gifts — whether to charitable entities or family members. They experience a lot of confusion over what gifts are permitted, what is advisable, and what the tax consequences might be. We’re here to help demystify.

Planning on making specific gifts in your will? Using beneficiary designations to avoid probate? Hmmmm. We might have a problem.

So what is a “unitrust”? It’s simple, really: in a unitrust arrangement, the trustee distributes a percentage of the value of the trust each year, rather than all of the actual income. This can free the trustee to make better investment decisions. It also improves the remainder beneficiaries’ position. And, finally, it helps the income beneficiary predict (and rely on) their actual distributions — and, often, increase those distributions over time.

Two weeks ago we talked about partner Elizabeth Friman‘s induction into ACTEC, the American College of Trust and Estate Counsel. But that got us thinking. We belong to — and rely on — a number of professional organizations. Some are local, others are state or national groups. We’d like to shout out to several of them. And we think knowing about those groups will help you in your search for lawyers and fiduciaries in your own community.

As the end of the year approaches, we’ll begin to see some predictable estate planning changes. Some will be driven by tax planning considerations. But many seem to us to be motivated by holiday season and client’s recent experiences. We’ll find ourselves pretty busy for the last months of the year.

Fleming & Curti, PLC, partner Elizabeth Friman was inducted into the American College of Trust and Estate Counsel (ACTEC) last month. This signal honor was extended in the first month after her eligibility. That amounts to national recognition of her place as a leading figure in estate planning, trust administration and elder law in Arizona — and in the broader legal community.

Emergency guardianship and conservatorship proceedings can often be completed in a week or less, at least in Arizona. That sounds a lot more attractive than the non-emergency option. Uncontested proceedings often take six to eight weeks to complete.

Most people who seek a guardianship or conservatorship think that their situation is an emergency. But an emergency guardianship and conservatorship proceeding means something else again to the judge. And because the judge is slow to see an emergency, lawyers practicing in the field often find themselves explaining to clients that they will have to wait through the ordinary process.

Join us for a discussion about emergency guardianship and conservatorship.

Last month Stetson University College of Law hosted its 25th annual Special Needs seminar in Florida. Fleming & Curti, PLC, partner Elizabeth Noble Rollings Friman spoke to the national audience — twice. In this week’s podcast we talk about the program, Elizabeth’s presentations, and the significance of special needs planning in our practice.