The Law Offices of Kelly J. McDonald, PLLC - Probate, Elder Law, & Special Needs

October 2018 Archives

Differences between charitable and other trusts

Charitable trusts can be useful tools for estate planning in Arizona. They often convey tax incentives and other benefits to the person planning the estate. There are a few things that distinguish charitable trusts from other trusts. First, they have a charitable purpose. Charitable purposes might include advancing religion or education, combating poverty, promoting health initiatives or otherwise benefiting the public.

Kids don't need to accept a timeshare from their parents

Arizona residents who inherit assets from their parents may find that they have inherited a timeshare. However, a child may not want to be responsible for an asset that may cost up to $3,000 a month in dues and other fees. Fortunately, there are some easy ways to ensure that a child is not responsible for these payments. First, the beneficiary may submit a written document saying that he or she has no interest in the property.

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