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,...
Drafting a will is an important first step in settling your affairs. But with so many types of wills out there, it can be overwhelming to know which one will be right for you. Luckily, you don’t have to choose just one—you can write several...
If you are legally married, it’s important to know how your marital status will affect the distribution of your estate. For instance, whether or not your spouse inherits your property depends on which state you live in. Some states consider certain assets to be community...
Have you started working on your estate plan yet? There are many common myths and misconceptions about estate planning that can cause people to make mistakes with their plans, or prevent them from making one at all. If you’ve heard and believed any of these...
Have you ever wondered exactly what it means to be named as the executor of an estate? An executor has many important duties to carry out, and understanding what the executor of an estate has to do can help you make better choices. We put...
Don’t let your family be blindsided by an invalid will. If you’ve already handwritten your will, or if you are considering writing one, it’s important to understand whether or not it is valid in Arizona. Here’s everything you need to know about handwritten wills in...
At Phelps LaClair, we think it’s a perfect time to make some estate planning New Year’s resolutions. The holidays are over and the credit card bills haven’t yet arrived. The pressure is off for now, so it’s the perfect time to better plan for 2020...