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Pharos Law Podcast–Sticking a fork in the toaster (the estate planning equivalent)

Pharos Law Podcast–Sticking a fork in the toaster (the estate planning equivalent)

This is the podcast version of an earlier blog post on how sticking a fork in the toaster can be likened to some of the very common “self-help” tax planning and estate planning method.  In other words, not good and most often very unwise in all respects.  Thankfully, there are some very simple solutions if […]

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tax reform will be a slow process (no surprise)

tax reform will be a slow process (no surprise)

Senator Ted Cruz has given fair warning that tax reform may not be coming quite as quickly President Trump wants, and some earlier reports indicated.  The word out of Washington today is that Cruz believes that new tax reform legislation will get done “late this year or early next year.”  We know that it’s not […]

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How do I form a trust in Utah?

How do I form a trust in Utah?

Very carefully.  🙂 Ok, joking aside, there are a few different ways to form a trust under Utah law. Requirements for creation of Utah trust under Utah Code 75-7-401 When in doubt, look at the applicable state statute. In this instance, if we want to understand what is required to form a valid trust under […]

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Is it better to have a will or a trust in Utah?

Is it better to have a will or a trust in Utah?

That is a good question, but perhaps not the right question. What is good for one person may not be the best solution for another person.  Let’s briefly compare the use of Wills and Revocable Living Trusts in Utah. Last Will and Testament A Will, sometimes known as a Last Will and Testament, sometimes referred […]

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New Reverse Mortgage Rules

New Reverse Mortgage Rules

On October 2, 2017, the rules relating to reverse mortgages changed. Borrowing limits decreased and upfront costs increased. First, let’s start with a basic definition of a reverse mortgage. Admittedly, this is something that many people have heard about, but perhaps it is not very well understood.  As the name indicates, a reverse mortgage is […]

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The $500 billion word–tax reform political games begin

The $500 billion word–tax reform political games begin

Can one word make that much difference? Yes, in the context of tax reform and the forecasted economic effect of the same, one word might equate to a difference of $500 billion. First, concerning the picture which accompanies this post, please take it with the intended humor with which it is used. Regardless of my […]

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Trump Administration Provides First Peak at Tax Reform

Trump Administration Provides First Peak at Tax Reform

There was a lot of fanfare with today’s announcement of proposed tax reform.  We will see (eventually) whether this is to become a “once in a generation” development or much ado about nothing. MORE jobs | FAIRER taxes | BIGGER paychecks[1] Tax reform has been promised for decades, by politicians on both sides of the aisle. […]

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Pharos Law Podcast–“Secrets” of THE Law

Pharos Law Podcast–“Secrets” of THE Law

This is the audio/podcast version of the earlier blog post on the same subject.  This deals with a few “secrets” (said with some measure of sarcasm) relating to attorneys and the mysterious and unknowable subject of THE law.  Click here to access the original blog post.    

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Toys “R” Us Bankruptcy—is this the end of Geoffrey the Giraffe?

Toys “R” Us Bankruptcy—is this the end of Geoffrey the Giraffe?

No. Chapter 11 bankruptcy is somewhat like going to the hospital for a major medical procedure.  But this does not equate to a trip to the mortician.  A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy. (see uscourts.gov website for more information).  The theory […]

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Happy 308th Dr. Samuel Johnson

Happy 308th Dr. Samuel Johnson

If you think your job is boring/difficult/tedious, just be glad you are not tasked with writing a dictionary! Today is the 308th birthday of Samuel Johnson.  Who is that? Well, of course, he is the author of “A Dictionary of the English Language” also sometimes referred to as “Johnson’s Dictionary”.  This publication came into existence on […]

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