Phelps LaClair is a premier estate planning law firm in the Phoenix Metro area. We are well acquainted with folks who want a solid estate plan. But they also feel an urgency to get it done quickly at this time. We understand that. And we...
A life insurance policy helps provide financial security and peace of mind for your loved ones after you’re gone. Understanding how life insurance works with your estate plan is essential for effectively protecting your assets and providing for your beneficiaries. Here’s what you need to...
If you have grandchildren, you can use a generation-skipping trust to pass some of your assets directly to them. This way, you can leave an inheritance for your grandchildren without burdening their parents’ estates. And not only do generation-skipping trusts avoid probate, they also keep...
Estate planning is crucial for everyone, no matter how wealthy they are. But it’s especially important for veterans and active military members. Being in the military earns you unique government benefits that need protection. A sound estate plan that includes a trust, a will, advance directives,...
No one wants to think about the possibility of leaving their child an orphan. But life is unpredictable, and although you can’t prevent the worst from happening, you can be prepared for it. Unless you name a guardian in your will, the state will choose...
When you inherit a house, there are a number of important steps you should take to protect your interests. Inheriting a house after a loved one passes away can be a complex and emotional experience. We hope this guide will help you through the process,...
People who are single and childless often assume they don’t need estate planning services. While it’s true that estate planning can benefit married couples and people with children, the reality is that estate planning is for everyone. Here’s why estate planning is so important, whether...
Many people assume that once they set their affairs in order, the matter is closed. They don’t realize why it’s important to update your estate plan and review it on regular basis. Throughout our lives we move homes, make new investments, add new family members, and...
Probate is a long and costly process that can take a year or more, and it’s best to avoid it if you can. For a small estate with property valued below a certain threshold, the best way to skip the probate process is to use...
A properly drafted will can help ensure your assets are properly distributed after you’re gone. Your will should include your appointed executor, named guardians for minors, as well as a list of your assets and beneficiaries. But there are many things that are either unnecessary,...