Taxes play a large factor in developing an effective estate plan. Thanks to the dreaded “estate tax,” if you fail to properly plan, Uncle Sam will take his final cut on your way out the door, and your largest tax bill ever will come when...
It’s getting hotter outside and we are looking for activities to do outside that help keep us cool! Chilling in a mountain stream seems appropriate, right? Grab your tube, and let’s go! At Phelps LaClair, we think it’s important to get out and enjoy nature. Tubing...
aaa Does a Living Trust Protect your Assets from Lawsuits? Protecting your assets is vital to you. And they face many potential risks during your lifetime, such as: lawsuits, divorce, creditors, or bankruptcy. Some people choose to dissolve a living trust to protect their assets in a...
When you hear the term estate planning, the first thing you probably think about is a person in their mid-60’s, or older. Well today we’re going to challenge your perception. What if we told you that you should have an estate plan much earlier than...
When making your estate planning checklist, there are three “golden rules” you should follow. These estate planning rules will help you ensure you’re getting the most out of your hard work, and preserving your estate for years to come. Rule #1: Be Clear and Intentional The most...
One major part of your estate may be your retirement account. Placing your retirement funds in a trust account is not possible while you are still living. However, there is one trick you can use to ensure your individual retirement accounts are protected, and the...
Salt River Wild Horses Hiking around Phoenix is one of our favorite ways to exercise. And hiking while gazing at wild horses? That’s just a treat. Surprisingly, the Salt River wild horses have likely been in America for generations. Horses are not native to North America,...
Due to the Tax Cuts and Jobs Act signed into law in 2017, the estate tax exemption limit has been gradually increased over the past four years. The estate tax exemption in 2020 was $11.58M. This year the estate tax exemption in 2021 is increasing...
It’s important for you to have an estate plan that works for you and your family—not a boilerplate plan written by someone unfamiliar with your situation. An estate tax planning advisor is a key element to creating the most effective plan for you. What is estate...
Winter is such a wonderful time in Phoenix! With temperatures hovering around 75 degrees it’s a perfect time to get outside and enjoy the scenery. Fitness is important to us here at Phelps LaClair. We consider a big part of staying healthy and happy. However, not...