Earlier this summer I attended a very informative talk entitled “Navigating the Mental Health Crisis” by my Estate Planning section of the Arizona Bar. I’m sharing a few important points from this incredibly informative talk by attorney, Josh Mozell.
Anyone with a teenager or a young adult in their family knows that there is a real mental health crisis going on in the United States. My family has been touched by a suicide in middle school and then again in high school in recent years. It is with this sad truth that I am sharing some resources and information that they might be helpful to others.
If there is a mental health disturbance, a good place to start is the Crisis Response Network (602.222.9444). This is Maricopa County’s 24-hour a day mental health service and it is considered one of the best in the nation. They have highly qualified specialists that can talk a person down, provide resources, or send out a mobile team (a team of two clinicians). In Tucson/southern AZ their number is 520-622-6000 and in Northern AZ it is 1-877-756-4090.
AZ v. CA Tax & Estate Planning Consideration
Below is a table comparing some of the major tax and estate planning considerations between Arizona and California that might prove useful if you have ties to both states.
Currently neither state has a state assessed inheritance tax, but there was a bill introduced in California in April of this year to impose tax on estates of $3,500,000 or more, which is considerably lower than the $11.4 million federal tax exemption. However, in order to go into effect, it needs to pass through both houses and be put on the ballot for voters to approve.
Why Do People Die Intestate, When a Basic Will is Easy to Prepare?
Going through the estate planning process allows a person to take control and decide who is going to act for them if death or disability occurs, and who gets your possessions when you die. But, only if, this is done before there is a disability or death. An intestate probate is not the place that any person wants to find themselves in, which is what happens when their loved one couldn’t take the time to put their affairs in order. Intestate succession is a statute provided method where the state tries to provide an equitable distribution of your possessions to your next of kin and prioritize who should act for your estate.
Meet a Member of our Team:
David Goldstein is a senior undergrad at Arizona State University, majoring in business law. He went to Chaparral High School and, for the most part of his life, was raised in Scottsdale, Arizona. While at ASU, David was an active member in the Zeta Psi Chapter of The Lambda Chi Alpha fraternity. He discovered his interest in law after assisting people as a legal assistant at a personal injury law firm here in the valley. After he completes his bachelor’s degree, he plans to attend graduate school and pursue a career Corporate Law.
David Goldstein is currently a senior studying business law at Arizona State University. He is an active member of the Zeta Psi Chapter of the Lambda Chi Alpha fraternity. In his free time, David enjoys morning yoga and spending time with his family. He first discovered his passion for law while working as a legal assistant at a personal injury firm here in the valley. He one day hopes to attend law school and continue his pursuit for success in Corporate America.
Please contact us for a free initial consultation. Experienced representation is just a phone call or email away.
A Personal Note
From Our Team
Thank you for the positive feedback we received on our inaugural newsletter, and please let us know if you have any requests for future article topics.
Enclosed please find our Summer newsletter, which continues to focus on our main practice areas: Business law, Estate Planning and Probate/Trust Administration. This Newsletter is providing “How To” style articles, touching upon creating a mental health crisis plan, creating a basic will, setting up a company in Arizona, and helpful comparison statistics for estate planning and businesses in CA v. AZ.
Should the newsletter prompt you with any questions, please give our office a call or email.
With very best wishes,
Margaret and the team at Tritch Buonocore Law
Registering to Do Business in Arizona
If you are thinking of setting up an Arizona Corporation either because you are starting a new business or you’ve been conducting business as an individual and realize that you need to incorporate, the following may prove helpful in how to get started. If you have a business that is incorporated elsewhere, but are conducting business in Arizona, then you need to register as a foreign company doing business in Arizona.