Creating a trust is a powerful way to protect your assets, avoid probate, and ensure a smooth transfer of wealth. But once you’ve named your beneficiaries, you may be wondering—should tell them? It’s a personal decision, but it’s worth considering carefully. Here’s what to keep in...
When most people think of the assets that make up an estate, they imagine homes, bank accounts, or family heirlooms. But for Arizona entrepreneurs, creatives, and business owners, their intellectual property (IP) holdings may be the most valuable assets they own. Whether it’s a copyrighted book,...
Estate planning helps us prepare for the future. But let’s not forget to enjoy the present! The scorching summers in Phoenix offer the perfect excuse to visit one of our amazing local water parks. From natural water slides to lazy rivers, wave pools to surf...
Marriage changes a lot about your life, including what happens to your assets when you pass away. But if you already have a will, does getting married override it? And does your spouse automatically inherit everything? In Arizona, the answers depend on a few key factors:...
When you set up a living trust, you name a successor trustee to carry out your wishes and manage your assets. But what if that person can no longer fulfill their duties? Illness, injury, or cognitive decline could exclude them from acting as your successor...
As your circumstances change, so should your will. It's a good idea to review it periodically to make sure it's still legally valid, includes all of your assets, and reflects your current wishes. If you ever need to update your will, the attorneys at Phelps...
Estate planning can feel overwhelming, but it doesn’t have to be. Whether you’re just getting started or you’re revisiting your current plan, asking the right questions can help you make sure your wishes are protected. This checklist covers ten of the most important estate planning...
Are you one of the many Arizona residents who love horseback riding? Trail riding allows you to enjoy some gorgeous vistas, and it offers several health benefits as well! If you’re looking for some new places to explore on horseback, Arizona has a ton of great...
When people hear the word “estate,” they often imagine mansions, yachts, and massive investments. But the truth is, everyone has an estate. If you own anything at all—even just a house and savings account—you have an estate. So, what actually makes up an estate, and what...
If you’ve recently moved or you’re planning a move, reviewing your estate plan is a wise idea. Whether you’re moving for retirement, a job change, or just a fresh start, relocating to another state raises an important question: Should you move your trust to your...