- Estate Planning Blog -

what assets are subject to probate
What Types of Assets Are Subject to Probate in Arizona?

Probate is the legal process of transferring the ownership of a deceased person’s property to their heirs, and it can take a long time to complete. There are many types of assets that are automatically subject to probate unless you place them in a trust...

last will vs living will -- two people sitting in chairs watching the sun set
Last Will vs. Living Will: What’s the Difference?

When you first begin your estate planning journey, chances are good you will hear a lot of different terms that may confuse you. Take “last wills” and “living wills,” for example. Are they the same thing? Or do you need both? Let’s take a closer...

what happens to an llc when the owner/a member dies
What Happens to an LLC After a Member Dies?

Forming an LLC is a good way to protect your business assets in the event of a lawsuit or bankruptcy. However, if you’re considering creating an LLC, you may be wondering what happens to your ownership interest after you pass away. At Phelps LaClair, we’re...

what is a backdoor ira -- Asian woman opening a blue door and smiling
What Is a Backdoor IRA?

Individual Retirement Accounts (IRAs) offer an excellent opportunity for people to save money in preparation for retirement. However, people who make more than a certain amount of money cannot contribute to a Roth IRA. But what if there was a way to contribute to a...

beneficiary deed arizona
How to Prepare a Beneficiary Deed in Arizona

If you’re planning to leave your home or any other real estate property to someone else when you pass, a beneficiary deed can smooth out the process. At Phelps LaClair, we help Arizona residents bequeath property and avoid probate with a variety of reliable estate...

formal vs informal probate
Formal vs. Informal Probate in Arizona

Whether you’re planning your own estate or settling a loved one’s, it’s important to understand how probate works. At Phelps LaClair, we help Arizona families design successful estate plans and smoothly administer their loved ones’ estates. We put together this guide to formal vs. informal...

what to bring to estate planning meeting -- man in suit holding out his hand for shaking
What to Bring to Your First Estate Planning Meeting

Congratulations on setting an appointment to meet with an estate planning attorney! That is an important first step in setting up your estate plan. If this is your first time speaking with an advisor, chances are good you have questions on what to bring to...

best places to cool off in phoenix -- two kids swimming in a pool
Chill Out! The 6 Best Places to Cool Off in Phoenix

There’s no way to deny the fact that summertime is hot here in Phoenix. Thankfully, there are lots of great places to chill out when the temperature heats up. Here’s a look at some of the best places to cool off in Phoenix and nearby,...

revocable trust after death
Can a Revocable Trust Be Changed After the Grantor Dies?

Understanding what happens to a revocable trust after the grantor’s death can help you plan for your family’s future. At Phelps LaClair, we help Arizona residents create and manage many types of trusts. If you’re considering adding a revocable trust to your estate plan, continue...

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