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Sharon Ravenscroft Estate Planning Blog

Welcome to my blog covering all things estate planning, family estate planning. business planning, wills, trusts & probate.

Updated Estate Tax Exclusion for 2019

In 2019, there will be an increase in the amount that can pass estate tax free -- one person can now pass a total of  $11.4 million during life a...
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Does my trust need its own Tax Identification number?

​ If your trust is a revocable trust then your social security number can be used for any accounts titled in the name of the trust. You will not ...
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Avoiding Probate Guidance

Keeping the court out of your assets and business is not difficult but does require certain steps. Be sure all accounts in your name have a pay on dea...
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Why do assets need to be titled in Trust?

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Beware of Scam related to Deeds used for a trust

From time to time, there are scams where companies send official looking bills to people who recently recorded deeds to their trust or otherwise. If you receive a bill regarding a deed processing notice, property transfer service or other official looking agency, other than the county assessor's office, these likely are not real. Feel free to
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Cavanagh Email is down for a bit

I am sorry for any inconvenience but Cavanagh Law Firm is switching servers and it is taking longer than we thought. So we are hoping to be back up some time this after noon June 17, 2013. Please call at 623-815-7451, or contact me through facebook.
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Who should be y...

Who should be you Personal Representstive? I suggest the question be changed to: who do you trust to handle your finances if you sick? That person is the same person you can trus
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Estate Tax Exclusion Extended

It appears that the fiscal cliff has been avoided and that has included the Estate Tax Exclusion to be left at the $5 Million, indexed at inflation, so it should be something more than the the $5.12 Million set in 2012. The top estate and gift tax rate was increased to 40% though. Information about the new law is coming in as it is being analyzed
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Pay on Death Designation for Vehicles

The Arizona Revised Statutes now allow for a Beneficiary Designation for Vehicle Transfer upon Death. The designation can be signed and kept with the title of the car, mobile home or other applicable vehicles. Since the law is new, it is not clear how effective it will be if the the vehicle is being financed.
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Satisfying The Title Company With Your Deed

When refinancing, adding a joint tenant on the title or preparing a beneficiary deed, there are legal requirements and there are title company requirements. There will be problems with selling the property later unless the deed lists the marital status of the grantee, lists the grantors exactly as they were listed in the prior deed as grantees
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