In our most recent blog post we began a series on estate planning for blended families. With the rise in divorce rates in our nation, blended families are becoming increasingly common. And these families have estate planning needs that are more complex than nuclear families....
At Phelps LaClair, we understand that blended family estate planning is often a complex challenge. In our 40+ years of existence we have helped many families navigate how to protect assets, plan for the possibility of long-term care needs, and determine how to distribute the...
In some of our recent blog posts at Phelps LaClair we have been writing about celebrities who have died without a will or trust in place. In most cases, the lack of planning comes down to procrastination. But even for folks who do have an...
James Phelps was interviewed on TV3’s Your Life Arizona this past week and answered some questions about estate planning. James is the managing partner at Phelps LaClair, with offices in Phoenix, Chandler, and Mesa. Phelps LaClair is approaching their 40th year in estate planning. During the...
Aretha Franklin has been in the news this week. She died last August without a will, and her estate of $80 million dollars has been tied up in probate court. It was announced several days ago that as some of her belongings were being moved...
What happens after the grantor of revocable living trust dies? Phelps LaClair, serving Mesa, Chandler, and Phoenix, has heard this question hundreds of times. In fact, revocable living trust distribution is one of the things written into every trust we design. But if you have...
In the world of estate planning, there are similar terms that define very different planning goals. For instance, at Phelps LaClair, we hear this question a lot: “What is the difference between a Living Will and a Living Trust?” As a 2nd generation law firm,...
Nobody gets married planning to divorce down the road. But sadly, nearly half of all marriages do end in divorce. As estate planning lawyers with 40 years of experience, Phelps LaClair knows what happens to a trust in a divorce. Wills Wills and trusts are different, of...
Every April the Internal Revenue Service comes knocking on the door, looking for 1040s, 1099s, Schedule Cs, and a check for the bottom line. At Phelps LaClair, serving Mesa, Chandler, Gilbert, and the Phoenix Valley, we are sometimes asked by our clients if they will...
Phelps LaClair, serving Chandler, Mesa and Gilbert AZ, is a second generation estate planning firm. In consulting with thousands of clients over the years, we have learned there are many misconceptions about wills and trusts. Here are 3 of the most common Revocable Living Trust...