Estate planning is a sensitive matter that many people avoid, especially if they’re young. But don’t assume that you won’t have to worry about it until the distant future—adults of all ages can benefit from estate planning. A thorough estate plan ensures financial security and...
In our hectic world, so many things can change over a short period of time, especially matters concerning family dynamics, assets, and financial accounts. That is why at Phelps LaClair in Gilbert, Chandler, and Mesa, we encourage our clients to review their estate plans every...
In a recent blog post, we discussed the importance of naming a financial durable power of attorney to act on your behalf in the decision-making process. That person is given legal authority to carry out any financial directives in your stead, should you become incapacitated...
In our last blog post we discussed the benefits of forming a Limited Liability Company for asset protection, taxes, and company structure. Because Phelps LaClair is the leader in the Phoenix Valley when it comes to estate planning, we have many Estate Planning options for...
It’s never an easy discussion, but it’s a necessary one. The best way to ensure that your last wishes are honored when the time comes is to communicate them to your loved ones. Talking to your spouse, domestic partner, or other loved ones about your...
When you first begin your estate planning journey, chances are good you will hear a lot of different terms that may confuse you. Take “last wills” and “living wills,” for example. Are they the same thing? Or do you need both? Let’s take a closer...
Discussing estate planning and inheritance with your parents can be a difficult conversation. However, it is better to bring up the topic sooner rather than later, especially with elderly parents. At Phelps LaClair, we aim to give families peace of mind with sound estate plans....
If you recently lost a parent who did not set up a living trust, you likely have a lot of questions about what happens next. One of the main questions that come up after a parent dies without a will is “who gets the house?”...
Our last Phelps LaClair blog post was about aging successfully and how our attitude can make a huge difference in the process of aging. But it’s possible that even with a great attitude and good self-care, a time will come when we simply cannot manage...
Family is our most intimate social connection. And in past generations, it was assumed that younger generations would take care of the older generations. But in today’s society, two-income families and a plethora of community and social activities have changed the landscape of life as...