Arizona applies complicated tax laws to special needs trusts. Depending on the type of special needs trust and how it distributes income, it may be subject to tax at the trust level or when income passes through to beneficiaries. Trustees must file Form 1041 annually to report trust income, and…
A blind trust is a type of trust in which neither the settlor/trustor (the person who creates the trust) nor the trust’s beneficiaries can control the trust’s assets or influence the trustee’s management. Instead, the trustee has complete discretion to manage those assets, including selling them and buying new assets…
The cost of establishing a living trust in Arizona depends on several factors, including the trustis structure, the assets transferred to the trust, and whether any additional legal documents are required. You would like the living trust to be tailored to your specific estate planning needs. Many people have misconceptions…
For most people in Arizona, a Last Will and Testament is probably the first choice for passing an estate on to heirs. However, depending on the diversity of your assets, you may decide to form a revocable living trust to take advantage of its before and after death benefits. As always, it…
Living trusts are one of many estate planning tools. Whether or not a living trust is right for you depends on several factors, including the assets in your estate and what instructions you wish to leave in your estate. An experienced Arizona estate planning attorney at Mushkatel, Gobbato, & Kile, P.L.L.C., can…
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