01 September

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Planning for special people

PLANNING FOR SPECIAL PEOPLE By Libby Banks, the Law Office of Libby Banks, PLLC One of many things we discuss with clients who are planning with us is whether there are any special needs concerns with a beneficiary. When we say special needs, we are referring to someone receiving needs-based government benefits and services. Some examples might be a child or adult with downs syndrome, a person who has never been able to work because of a medical condition, developmental impairment, brain injury or other impediment. The special needs beneficiary qualifies for the government benefits or services because their assets and income are...

01 July

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The Hidden Dangers of Joint Ownership

Posted by Libby Banks

in Avoid Probate

A professional estate planning consultation in a modern law office. An older mother sits at a conference table with her adult daughter while an attorney reviews legal documents

The Hidden Dangers of Joint Ownership By Colton Powell, Law Office of Libby Banks Nearly every month in our office, we host a seminar focused on busting the myths in estate planning. One of the most common misconceptions we hear is that joint ownership makes avoiding probate a breeze. “My daughter is a co-owner on my bank account” or “I added my son to my deed to avoid probate” are just a few examples. To be clear, joint ownership with a spouse is not the issue. However, joint ownership with children, siblings, or domestic partners can create a web of issues. Many times,...

01 June

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Peace of Mind Is the Best Packing Essential: Plan Your Estate Before You Travel

Posted by Libby Banks

in Estate Planning

Peace of Mind Is the Best Packing Essential: Plan Your Estate Before You Travel By: Allison Gloss Have you ever been flying with your spouse through severe turbulence and thought, “we really should have updated our estate plan before we left on vacation!”? As summer approaches, many individuals and families are looking forward to travel. Whether that means a long-awaited international trip, a relaxing beach vacation, or simply getting away from the Arizona heat, there is one important step worth considering: making sure your estate plan is in place. Taking care of this now can provide meaningful peace of mind while you are...

01 March

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Declutter to Save Your Children the Headache

Posted by Libby Banks

in Libby Banks

Declutter to Save Your Children the Headache By Libby Banks, The Law Office of Libby Banks, PLLC Spring cleaning must be in the air, because my news feed is full of tips on decluttering. Many of these articles encourage us to do this to save our children the stress of sorting through our stuff when we are gone. As an estate planning attorney, I can tell you: that’s not just good advice. It’s an act of love. When someone passes away or becomes incapacitated, families are suddenly asked to make hundreds of decisions. Legal decisions. Financial decisions. Personal decisions. And in the middle of...

01 February

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Estate Planning for Couples: If You Love Them, Plan With Them

Posted by Libby Banks

in Estate Planning

By Allison Gloss, The Law Office of Libby Banks When couples talk about relationship milestones, they usually think of moving in together, getting engaged, getting married, or having children. Estate planning rarely makes the list. Yet creating, or updating, an estate plan may be one of the most meaningful acts of care partners can take for one another. Estate planning is not about anticipating the worst. It is about making sure the person you love is protected, empowered, and spared unnecessary stress during life’s most difficult moments. Whether a couple is married, unmarried, or intentionally choosing not to marry, planning together is...

01 January

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Make Estate Planning Your New Year’s Resolution

Posted by Libby Banks

in Estate Planning

By Colton Powell, Law Office of Libby Banks Every January, people make resolutions to get organized, start fresh, and finally tackle the tasks they spent all last year avoiding. In our office, we see a wave of people who decide that this is the year they will get their estate plan done once and for all. They often tell us they feel guilty for putting it off, or that other things simply took priority. The truth is that most people do not wake up one day excited to do an estate plan. Something usually triggers that urgency. What we have noticed is...

01 December

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Talking With Your Family About Your Estate Plan

Posted by Libby Banks

in Estate Planning, Wills & Trusts

By Libby Banks, The Law Office of Libby Banks, PLLC You might not think that the holidays are the best time to talk with your family about your estate plan, but it might be the only time they are all in one place. Talking with your family about your estate and what you have planned, or intend to do can assure that nothing comes as a surprise later. When your family knows what you’re planning or already have in place, who you’ve chosen to handle things, and how you want decisions made, you give them clarity, and that can assure less...

21 November

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Use an Attorney for Your Estate Planning—Not AI!

Posted by Libby Banks

in Estate Planning, Power Of Attorney

By Libby Banks, The Law Office of Libby Banks, PLLC In a world where you can ask your phone to plan your vacation, order your groceries, or even write your wedding vows, it might be tempting to think artificial intelligence can also handle your estate plan. After all, AI is fast, cheap, and available 24/7. But when it comes to protecting your life’s work and caring for the people you love most, “fast and cheap” is not what you’re looking for. Estate Planning Isn’t Just Data—it’s People AI can crunch numbers and draft documents, but it can’t sit across from you, look you...

01 October

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Contracts to Leave an Inheritance in Arizona: More Than Just a Will

Posted by Libby Banks

in Estate Planning, Libby Banks, Wills & Trusts

By Libby Banks, The Law Office of Libby Banks, PLLC When most people think about passing down their property, they picture a will or a trust. But Arizona law also allows for another tool that doesn’t get talked about as much: a contract to make a will or leave an inheritance. These agreements can shape how your estate is handled—and even specify gifts that must go into a trust. What Is a Contract to Make a Will? Arizona law recognizes contracts where a person agrees to make a will or trust, agrees not to revoke it, or leaves a specific gift to someone...

01 August

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Estate Planning with LLCs: Protecting Your Business and Your Legacy

Posted by Libby Banks

in Estate Planning

By Colton Powell, The Law Office of Libby Banks In our office, Libby and I see a growing number of clients with LLCs who own businesses or have rental properties to protect. Some clients come into an estate planning consultation thinking their estate plan is a totally separate matter from their LLC, but that couldn’t be further from the truth! Liability and litigation lurk around every corner, so the legal protections provided by an LLC are crucial. The next step that many people overlook is making sure that their LLC interest avoids probate upon their passing. LLCs are just another piece of...