James Phelps on Your Life Arizona
James Phelps was interviewed on TV3’s Your Life Arizona this past week and answered some questions about estate planning. James is the managing partner at Phelps LaClair, with offices in Phoenix, Chandler, and Mesa. Phelps LaClair is approaching their 40th year in estate planning.
During the interview with Suzanne Bissette, James explained the benefits of early estate planning. By not procrastinating—which is the number one estate planning mistake—you can have peace of mind in major life concerns. You can also name someone to make medical and financial decisions for you, in the event you become incapcitated. And lastly, you can determine who gets your stuff when you die.
James strongly advised against trying to use online or boilerplate templates to create your own estate plan. The money you save on the front end will end up costing more for your heirs on the back end, because do-it-yourself wills and trusts often end up in probate court. Recent and ongoing cases such as Aretha Franklin, Tom Petty, and Prince are examples of the great expense of probate. But he also pointed out that it’s not just the rich who need an estate plan. Even those with modest estates will benefit from having a living trust designed by a professional estate planning attorney.
For those new to estate planning and for those who have been procrastinating, James offers free consultations and seminars. In the upcoming seminars scheduled for June 4-6, Phelps LaClair is also offering special fee discounts for those who attend. If you have questions about estate planning, don’t miss this opportunity to speak with James Phelps. And for more information, here is a link to the Your Life Arizona television interview: https://www.youtube.com/watch?v=2-WsSMTftnw&feature=youtu.be