The Law Office of Libby Banks, PLLC

As an estate planning attorney, I often get calls from people who’ve used online trust or will planning software or gone to a cheap trust mill to put their plan together. Sometimes, they go to their brother-in-law, the corporate lawyer, who uses a form he found in a book to put the plan together. When I’m asked about whether these are good ideas, I like to tell a story about my dear husband. My husband Andy is a great handyman. It’s wonderful that I can ask him to fix things around the house and know he will do it right. When we first moved to our home in Phoenix, he replaced many of the appliances himself, including a cool new stove top. It was great! Well, it was great until he put in the new vent hood. I stood across the kitchen watching him do his usual good job, then walked over to the door for a better vantage point. Suddenly, the light bulbs on the hood burst and the fan spun across the room to hit the cabinet – right where I had been standing not 30 seconds before. “Honey,” I ...

Libby Banks, with the Law Office of Libby Banks, was recently interviewed on The Money Maps Podcast. Check out the interview with tons of great estate planning tips here: https://wealthavenue.us/money-maps-podcast-episode-34.php The post Estate Planning Basics On The Money Maps Podcast appeared first on The Law Office of Libby Banks . Original post here: Estate Planning Basics On The Money Maps Podcast

The following announcement was recently made in our newsletter: Dear Shepston Law Firm Clients, It is with excitement and some sadness that Allyson Shepston Bibler announces the closing of her law firm to take an extended sabbatical. As always, her first and foremost priority is her clients. After much deliberation, Allyson has transferred all client files to The Law Office of Libby Banks, PLLC to permit continued access and ongoing client care. Allyson has known Libby for years and both are WealthCounsel estate planning attorneys. While the Law Office of Libby Banks, PLLC is willing to maintain your file and assist you with your planning needs, you are not required to work with them. From The Law Office of Libby Banks, PLLC: We want to thank Allyson for trusting us with the continued care of her clients and are wishing her the best in this next stage of her life. We are proud to list Allyson as of counsel with the firm, although she is not taking any new cases and will not be invo...

The Law Office of Libby Banks was recently in the news. The Scottsdale Independent newspaper recently reported on the WealthCounsel’s recent conference, lead by our very own Libby Banks, estate planning attorney. Check out the report here: Estate planning attorneys gather in Scottsdale for WealthCounsel conference The post Libby Banks In The News appeared first on The Law Office of Libby Banks . Original post here: Libby Banks In The News

There are a number of different types of trusts we use when doing an estate plan. Here is a bit of information about a few of the most common trusts. The Revocable Living Trust The primary trust we use in estate planning is the Revocable Living Trust (“RLT”). It is the foundation of most estate plans and has many benefits. It contains instructions for managing the assets in the trust during your life, upon your death, and if you become incapacitated. The RLT will also avoid the need for a probate court proceeding on your death. You can select the person(s) who will be able to step in quickly to gather, sell, and distribute your assets to your beneficiaries without a court’s involvement. Irrevocable Trusts When we create an irrevocable trust, we create an estate plan that is intended to not be changed or revoked. Once we put it in place, the circumstances permitting a change to the trust are limited. An irrevocable trust has some specific uses. Most of them involve naming someone el...

When the time comes for you to leave this earth, your assets stay behind. Everything you have worked hard for will remain here, but you need to make sure they are left in safe hands. And for this to happen, you need to come up with an estate plan. Estate planning is making plans to entrust your assets to someone responsible when you pass on. And to avoid difficulties during this process, it can be helpful to work with a lawyer. An estate planning attorney is a professional who is well versed with these issues, and who knows all the laws involved in that area. Finding an estate attorney can be a daunting task. You need to be careful while you look for one, because your precious assets are involved here; be it your cars, apartments, bank accounts, estates, businesses, etc. He should be competent enough to put things clear so your beneficiaries will not have problems down the line. Toward this end, there are important attributes you need to look for in a competent attorney. Here is just a...