Planning Notes

Via this blog we address fundamental concepts and issues relevant to estate planning law (will, trust, probate, asset protection), business law (LLC), real estate law, & tax law. Published by Douglas K. Cook & Steven W. Cook.

Trump’s Estate Tax Plan

November 9, 2016

We can only presume this means there will be a step-up in basis for up to $10 million of property upon the owner's death and that any tax associated with the gain on the property will only be incurred if and when such property is sold. Read More»

Hillary Clinton’s Estate Tax Plan

October 18, 2016

Clinton would lower the estate tax exemption to $3.5 million per person and $7 million per couple, while raising the estate tax from 40 to 45 percent Read More»

Second Marriage? What Could Happen if You Don’t Have an Estate Plan

October 10, 2016

Did you know that if you die without a will that each state in the U.S. has already written one for you? Read More»

Arizona Probate & Minors

October 3, 2016

In Arizona, what happens if a person dies and leaves property to minor children? Well, the answer depends upon the types of assets the decedent owned as well as the decedent's estate plan. Read More»

ALTCS Eligibility in 2016

September 1, 2016

The Arizona Long-Term Care System (ALTCS) is Arizona's implementation of the Medicaid program, which can pay nursing home costs for people that meet certain medical, income, and resource requirements. Read More»

Treasury Issues Proposed Regulations to Restrict Minority Discounts

August 3, 2016

The U.S. Department of the Treasury recently issued proposed regulations which could substantially reduce or eliminate minority discounts often associated with federal estate tax planning. Read More»

Prince Estate: The Importance Of Having A Will

July 18, 2016

Prince’s lack of planning could cost his estate up to half of its estimated $300 million worth. Read More»

Before You Travel This Summer, Don’t Forget These 5 Estate Planning Must Dos

May 26, 2016

Before you travel, there’s one thing I can almost guarantee — estate planning is the furthest thing from your mind. Read More»

Candidates' Proposed Estate Tax Plans

April 26, 2016

Under current law, estates worth $5.45 million or less are exempt from federal estate tax. Read More»

Bernie Sanders’ Estate Tax Plan

April 14, 2016

The Sanders bill would exempt the first $3.5 million on an individual’s estate from estate tax and would include a maximum marginal tax rate of 65%. Read More»