When it comes to estate planning, millennials are well ahead of the game. Many have been assisting their parents with the estate planning process, and others have even started setting up their own estate plans. It’s never too late or too early to get started—life...
Probate is a long and costly process that places an unnecessary burden on your loved ones. If you want to avoid probate in Arizona, you’ll need more than just a will in your estate plan. Wills are always subject to probate, and that is why...
You don’t have to be rich to set up a trust fund for your child. In fact, it’s a move every parent should make. Setting up a trust fund can help secure your child’s financial future by protecting their inheritance from taxes, probate, and creditors....
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...
Setting up a revocable trust (also known as a living trust) is a crucial step in estate planning. A living trust allows you to manage your assets during your lifetime, and streamline the distribution of your estate after you pass away. Placing your assets in...
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...
Holidays are a time for joy, laughter, pretty lights, great decorations, and delicious food. We gather with friends and family, we connect with past acquaintances, we enjoy festivities and special events. And in the middle of all the activities that go along with holiday seasons,...
When you’re looking to protect your assets for future generations, calling on the expertise of an estate planning lawyer is a smart idea. At Phelps LaClair Firm we’ve been helping families in the Phoenix Valley choose the right estate planning vehicle for their needs for...
As of the middle of September, 2020, Maricopa County has 710 active COVID-19 cases. 606 of those cases are found in long-term care facilities (166), assisted living facilities (364), and rehab facilities (76). We have long advocated for everyone to have an estate plan that...
Over the 4th of July weekend, I came home from a trip to one of my favorite places on earth: Alpine, Arizona. This is where my family has had a cabin since I was 5 years old. The cabin itself doesn’t amount to much, but...