Death is something that I never used to talk about. To even think about the subject would depress me. That was until recently. Over a year ago my mom was diagnosed as having a bad heart condition and suddenly death became a very real subject for me. The heart condition that she has comes with the risk of her heart failing to work at any moment without notice. That really gives you a lot to think about. Although the risk of my mom dying is always in the forefront of my mind, we haven’t really done any substantial planning for if that time comes.
Although I’m over 18 and would be more then capable of handling things if my mom passed away, I would feel more comfortable entering into a family limited partnership with my aunt. My mom and my aunt are best friends and I feel that my aunt has the maturity and wisdom to make great decisions. There used to be a time that a family limited partnership would only make sense to rich people, but I really think things are changing. It’s a great way for my mom to keep control over her finances and her Ministry, but still be assured that myself and my aunt would look after things if the time ever came.
I’ve done a lot of reading about estate planning, so I know some useful things, but if you could use some advice, Morris, Hall and Kinghorn are attorneys that can help. They’re located in Arizona and Nevada and they can provide answers for you and your family, if need be.