Will 2026 be the year that you finally put your estate plan together? Most people aren’t sure where to start, or what they need to do besides writing a will. But it’s important not to put off this very important task. Estate planning can help...
If you need special medical care, you make an appointment with a doctor who is trained in the field of medicine pertaining to your need. If you’re building a home, you want a contractor with a good track record, who does quality work. When it...
At Phelps LaClair, we love the springtime. It’s a perfect time for looking ahead in anticipation of new life and new challenges. Spring is the time when a young man’s fancy turns to . . . well, you know. When birds are building nests and...
Aretha Franklin has been in the news this week. She died last August without a will, and her estate of $80 million dollars has been tied up in probate court. It was announced several days ago that as some of her belongings were being moved...
Why Do You Need a Revocable Trust? “Where there’s a will, there’s a way” is an oft-quoted saying that means if you want something badly enough, you will go to extraordinary lengths to get it. At Phelps LaClair, serving Chandler, Mesa, Phoenix and Scottsdale, the saying...
Developing a succession plan for your family cabin requires long-range planning that involves the whole family. This may seem obvious, but cabin owners should confirm that each child or other prospective new owner has an interest in becoming a cabin owner. After it’s determined that there...
Some assets belong in a trust, but others don’t. We’re going to help you outline what doesn’t belong in a trust and give you a quick breakdown on how revocable living trusts work. After getting your feet wet here, you can dive even further into...
At Phelps LaClair, we are often asked how long it takes for a trust to be distributed. In our experience as a second generation law firm, we know that the general rule is to have the trust distributed within a reasonable time. But what does...
Revocable trusts offer many benefits, including protecting your assets and keeping them out of probate. They also allow you to control and access the assets in the trust as well as make other changes at any point during your lifetime. If you've already set up...
Creating a trust is a thoughtful and strategic way to ensure that your assets transfer seamlessly to your beneficiaries. However, one key aspect of building a successful trust is choosing the right trustee. The trustee must safeguard your assets and uphold your wishes when distributing...