01 Jul Does My Business Belong in a Trust?

Posted at 10:39h in LLCs by Phelps LaClair Law

  Trusts can be used to your advantage for personal and business reasons to accomplish your goals of reducing or eliminating your estate taxes. Other benefits of trusts include: asset protection, probate avoidance, and safeguarding from creditors or lawsuits.  Many types of trusts exist, and...

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23 Jun Do I need a trust and will: does a trust override a will?

Posted at 10:44h in Irrevocable Trusts by Phelps LaClair Law

  Many people ask us here at Phelps LaClair about the difference between wills and trusts. To most, the revocable living trust looks a lot like a will. They wonder if a trust can replace a will, and whether they need to create a will...

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17 May How Does The Inheritance From a Trust Get Taxed?

Posted at 12:00h in Taxes by Phelps LaClair Law

    Some aspects of estate planning can be extremely complicated and lead to headaches—especially tax issues. Whether you’re the estate planner, the grantor, or a beneficiary, the experts at Phelps LaClair can answer all of your questions. You could be in the beginning phases...

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24 Apr Will a Living Trust Protect Your Assets from Lawsuits?

Posted at 15:00h in Living Trusts by Phelps LaClair Law

aaa Protecting your assets is vital to you. And they face many potential risks during your lifetime, such as: lawsuits, divorce, creditors, or bankruptcy. Some people choose to dissolve a living trust to protect their assets in a divorce.  If you’re facing a lawsuit you...

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09 Apr What is a Retirement Plan Trust?

Posted at 14:00h in Living Trusts by Phelps LaClair Law

  One major part of your estate may be your retirement account. Placing your retirement funds in a trust account is not possible while you are still living. However, there is one trick you can use to ensure your individual retirement accounts are protected, and...

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08 Mar How are Trust Assets Distributed to Beneficiaries?

Posted at 09:00h in Estate Planning by Phelps LaClair Law

      You can control how trust assets are distributed to your beneficiaries. Choosing the right trust distribution method will help protect your estate. It can be a complicated matter that’s best sorted out with the advice of an experienced lawyer.  An estate planning...

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04 Feb Pet Trusts

Posted at 11:13h by Phelps LaClair Law

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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...

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29 Dec Assets Held In a Trust Avoid Probate

Posted at 16:57h in Living Trusts, Probate, Wills by Phelps LaClair Law

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...

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17 Dec Types of Irrevocable Trusts

Posted at 09:03h in Estate Planning, Irrevocable Trusts by Phelps LaClair Law

  Phelps LaClair is a second-generation estate planning firm in Gilbert, Arizona, where helping you plan for your family’s future isn’t just part of what we do, it’s all we do! In considering which type of legal document might be best to protect your legacy,...

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