Living Trusts Category Archives | Page 6 of 14

05 Sep What Does it Mean to Fund a Living Trust?

Posted at 13:32h in Living Trusts by Phelps LaClair Law

Have you recently created a living trust? That’s fantastic! Trusts are wonderful tools for protecting estate assets like bank accounts, money market accounts, properties, businesses, cars, boats, and more. Another big benefit of living trusts is that they keep your estate out of probate court....

12 Jul What Doesn’t Belong in a Trust?

Posted at 06:17h in Living Trusts by Phelps LaClair Law

Some assets work well 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...

14 Jan It Pays To Have A Trust—Prince’s Estate Battle

Posted at 09:58h in Living Trusts, Wills by Phelps LaClair Law

Prince is back in the news again. Early this month, the IRS announced that Prince’s estate was undervalued by $80 million. As you may recall, the probate battle over Prince’s estate has been dragging on since 2016. Every day that passes costs the estate money...

how to dissolve a trust - hand signing legal document

05 Dec How to Dissolve a Living Trust

Posted at 11:15h in Asset Protection, Estate Planning, Living Trusts, Uncategorized by Phelps LaClair Law

At Phelps LaClair, we are estate planners with more than 40 years of experience in creating exceptional estate plans. We have served thousands of satisfied clients in the Phoenix Valley to enable them to protect their assets and successfully pass on their wealth when they...

family cabin trust - cabin in woods at sunset

03 Aug 3 Ways to Pass on the Family Cabin

Posted at 09:30h in Asset Protection, Estate Planning, Living Trusts by Phelps LaClair Law

Developing a family cabin succession plan 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 is cooperation...

24 Nov Is it Better To Have a Will or a Trust?

Posted at 15:43h in Estate Planning, Living Trusts, Wills by Phelps LaClair Law

Last Will and Testament—This is what many people think estate planning is. The truth is that while a will is part of it, an estate plan is so much more. At Phelps LaClair, we believe that everyone needs an estate plan, no matter how much...

21 Sep What is a Revocable Living Trust?

Posted at 11:27h in Estate Planning, Living Trusts by Phelps LaClair Law

Phelps LaClair is one of the premiere estate planning law firms in the Phoenix area. We design and create an estate plan that is unique for each client. We often get asked, “What is a revocable living trust, and why do I need one?” Most...

16 May Generation Skipping Trust

Posted at 12:17h in Estate Planning, Living Trusts by Phelps LaClair Law

There is a famous saying: “It’s not so much what you earn that’s important, it’s what you can keep.” Everyone is on the lookout for ways to reduce their tax burden. Phelps LaClair is a 2nd-generation estate planning law firm serving Chandler, Mesa, Phoenix and...

21 Apr Estate Planning and Divorce

Posted at 07:39h in Estate Planning, Irrevocable Trusts, Living Trusts by Phelps LaClair Law

“Till death do us part” is often quoted in marriage vows. And for good reason. Very few marriages start out with the intention of ending in divorce. However, divorce is a reality that affects about half of all marriages. Phelps LaClair estate planning law firm...

Trust Administration Phoenix - silhouette of person against a mountain range

18 Sep Choosing A Trust Administrator in Phoenix, AZ

Posted at 12:49h in IRA Inheritance Trust, Living Trusts, Special Needs Trust, Veterans Asset Protection Trust by Phelps LaClair Law

You’ve begun to set in place a Living Trust that will protect your assets and keep your estate from going through the expense and delay of probate. But there’s one area of your planning that has been causing you a bit of difficulty: you’re struggling...

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