Only nine states in the U.S. follow community property laws, and Arizona happens to be one of them. If you’re married and living here, this means that nearly everything you and your spouse acquire during your marriage is considered jointly owned. Your joint property can...
Creating an estate plan is one of the most crucial steps you can take to safeguard your family, assets, and wishes. However, even a well-structured estate plan can be contested in court if a disgruntled heir or beneficiary decides to challenge it. While no estate...
Discovering that you have been named in someone's will can be surprising. Whether you're a close family member or a distant relative, understanding your status as a beneficiary can help you prepare for the future. However, it's not always straightforward to determine whether you've been...
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...
Marriage changes a lot about your life, including what happens to your assets when you pass away. But if you already have a will, does getting married override it? And does your spouse automatically inherit everything? In Arizona, the answers depend on a few key factors:...
As your circumstances change, so should your will. It's a good idea to review it periodically to make sure it's still legally valid, includes all of your assets, and reflects your current wishes. If you ever need to update your will, the attorneys at Phelps...
Estate planning is all about ensuring that your assets end up in the right hands. But when circumstances and relationships change, so can your estate plan. Sometimes this means having to disinherit someone from your will. Disinheritance is always a sensitive and difficult decision. Understanding how...
Writing a will is a step that every adult needs to take. However, if you want your will to work, you need to make sure that it's legally valid. Every state has its own laws regarding legal wills—for example, electronic wills are only allowed in...
Refusing to accept an inheritance is not a decision you should ever take lightly. Once you disclaim an inheritance, you have no control over who will receive it. However, the estate planning attorneys at Phelps LaClair understand that accepting an inheritance is not always the...
Not every inheritance is a welcome one. There are many reasons someone might want to refuse a bequest—a large amount could become a tax burden or disqualify them from government benefits. Or perhaps they feel that another person would appreciate it more, so they want...