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...
Estate planning can get complicated. Especially when it involves distributing wealth among the members of a large family. For families that have built up substantial assets over multiple generations, maintaining harmony between family members takes some careful handling. To shed some light on the steps you...
Estate planning and retirement planning go hand in hand. Just like it's never too early (or too late) to start saving for retirement, it's always good to begin the estate planning process sooner rather than later. The good news? Even if you’re just getting serious...
Who needs asset protection planning? Is it necessary for everyone, or is it only important in certain situations? Asset protection planning is a key component of wealth management. The goal is to shield your wealth from being seized or used to satisfy a legal judgment. Not...
At Phelps LaClair, we love to spend time with our families out in nature. Getting outdoors and indulging in the scenery always puts us in a better mood. From hiking the gorgeous rocky landscapes or canoeing the rivers and lakes, to playing the golf courses...
A power of attorney (POA) is a legal document that lets you give someone you trust the authority to make decisions on your behalf. But how much authority does a power of attorney actually have? That depends on the type of POA, what’s written in...
If you choose, the same person you name as guardian for your minor children can serve a dual role as trustee. However, this decision takes some careful consideration. Having one individual serve both roles isn’t always the best idea. It can be complicated, impractical, and...
There are many ways you can use estate planning to protect your children, now and in the future. You can set up a trust fund to protect their inheritance, or name a guardian in your will. You can also use a parental power of attorney...
Most of us would agree that springtime in Tempe is an absolute delight! Spring brings the perfect blend of mild temperatures, clear skies, and vibrant outdoor events. We always enjoy the outdoors scene at Tempe Town Lake, taking scenic walks along the Salt River, and...
When someone dies, their mortgage debt becomes part of their estate. What happens next gets complicated…it’s going to depend on several different factors, like whether there’s a co-signer on the mortgage, and whether or not the deceased had a will. For example, if you are...