Taxes play a large factor in developing an effective estate plan. Thanks to the dreaded “estate tax,” if you fail to properly plan, Uncle Sam will take his final cut on your way out the door, and your largest tax bill ever will come when...
When you hear the term estate planning, the first thing you probably think about is a person in their mid-60’s, or older. Well today we’re going to challenge your perception. What if we told you that you should have an estate plan much earlier than...
When making your estate planning checklist, there are three “golden rules” you should follow. These estate planning rules will help you ensure you’re getting the most out of your hard work, and preserving your estate for years to come. Rule #1: Be Clear and Intentional The most...
Due to the Tax Cuts and Jobs Act signed into law in 2017, the estate tax exemption limit has been gradually increased over the past four years. The estate tax exemption in 2020 was $11.58M. This year the estate tax exemption in 2021 is increasing...
It’s important for you to have an estate plan that works for you and your family—not a boilerplate plan written by someone unfamiliar with your situation. An estate tax planning advisor is a key element to creating the most effective plan for you. What is estate...
You can control how trust assets are distributed to your beneficiaries. Choosing the right trust distribution method will help protect your estate. It can be a complicated matter that’s best sorted out with the advice of an experienced lawyer. An estate planning attorney can help you...
A living will is something that communicates your end-of-life medical decisions and allows your family members to rest assured that they’re making the right choices, if you’re unable to make them yourself. Having a living will is an essential step in estate planning. However, even...
At Phelps LaClair, we design estate plans that protect your assets and investments, provide tax advantages and deal with end-of-life decisions. As a second-generation estate planning law firm, we can tell you that no investment is without risk. Rental properties are no exception. In our...
Our clients at Phelps LaClair come to us because they are aware of our excellent reputation for designing bulletproof custom estate plans. They choose us when they want to know how to preserve and increase their wealth for the next generations. With the growing populations in...
There are changes that are coming with a new Presidential administration in 2021. Changes in the Federal Tax Code are expected to be announced soon. At Phelps LaClair, serving Mesa, Chandler, Scottsdale, and the Phoenix Valley, we know one of the questions will concern the...