Not every inheritance is a welcome one. There are many reasons someone might want to refuse a bequest—a large amount could become a tax burden or disqualify them from government benefits. Or perhaps they feel that another person would appreciate it more, so they want...
Need some ideas for what to do this Valentines Day? Are you sick of the standard going out for dinner and a movie? Here are some ways you can spend a date night with the one you love without relying on your old stand-bys. Three Ideas...
Every family needs estate planning, no matter which tax bracket they fall into. Parents in particular need to take steps like naming a guardian, writing a will, and providing for the future. You don't have to be rich to do things like set up a...
Yes, a handwritten will—sometimes referred to as a holographic will—can be legally valid as long as it meets the conditions required by Arizona law. We will explain these rules in detail, and lay out how to best handle writing a will if you haven’t drafted...
A house is a very valuable asset, and by leaving your home to your children you're setting them up with a legacy for the future. At least, that's what most people intend to do when they leave their house to their son or daughter. However,...
Most of the time, being named as the administrator of a trust doesn’t come as a surprise. The founder of the trust will usually get permission from the person they plan on naming as their successor trustee. However, there are some cases where an individual...
At Phelps LaClair we love sharing in the beauty of Arizona and the wonderful outdoor events we have access to! If you need a few ideas for how to get your family out of the house this weekend, we’ve got you covered! Here are three...
Naming a power of attorney can be a wise step to take. If you are ever incapacitated by an illness or injury, they will be able to do things like pay your bills or receive information about your medical condition, depending on the terms of...
In the estate planning world it can be easy to get confused. There are many available tools and advice on how to best use them. You may have heard your colleagues, friends, or family talk about how they’ve created an IRA inheritance trust to pass...
If your parents have a substantial amount of debt, you have a very good cause for concern. You may be wondering what happens to their debts after they die, or worried that you might be held responsible for paying them. Fortunately, you can not inherit...
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