Whether you’re adopting or expecting a baby, welcoming a new member to your family is always an exciting time. It’s also a good opportunity to get your financial affairs in order. You should start preparing for your child’s future with professional estate planning as soon...
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...
If you recently lost a parent who did not set up a living trust, you likely have a lot of questions about what happens next. One of the main questions that come up after a parent dies without a will is “who gets the house?”...
After the grieving process has ended and the despair from losing someone close to you has lessened, you may find yourself ready to tackle some related paperwork, including finding out if you’re named in the will. This isn’t necessarily a difficult process, but it may...
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...
Every estate planning law firm will advise you to avoid probate when and wherever possible. Phelps LaClair is no exception. We tell our potential clients what having an estate go through probate will entail. There will be court costs, legal fees, and time lost in...
At Phelps LaClair, we know the value and esteem that some folks have for their companion animals and pets. Many people ask us if pets can be included in a will. The answer is a resounding yes! In fact, for many pets of the rich...
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...
There are so many unknowns in life. When we are young, we wonder what we will be when we grow up. As we enter young adulthood, we wonder who we will marry (or even if we will marry). We wonder about career, status, employment, friendships...
In a recent blog post, we discussed two aspects of estate planning with foreign assets: taxation and wills. In this post, we will expand on the topic of international property ownership and valid wills. Phelps LaClair is a second generation estate planning law firm serving...