basics of wills and living trusts Tag Archives

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 they each...

04 Mar Wills vs. Trusts: Which One Do I Need?

Posted at 08:20h in Living Trusts, Wills by Phelps LaClair Law

Planning for the future is a crucial aspect of responsible adulthood. Deciding how to distribute your estate after you’re gone can give you peace of mind about the future. Two common tools for achieving this goal are wills and trusts—but which one is right for...

person drinking coffee and writing to do list

20 Dec An Estate Planning Checklist for the New Year

Posted at 21:38h in Estate Planning by Phelps LaClair Law

As we enter the beginning of a new year, many people are making plans for the future. If you’re setting any New Year’s resolutions, estate planning should be at the top of your list. A sound estate plan is crucial in easing the burden for...

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...

- two people sitting on a bench, looking out over the water

15 Oct The Basics of Wills and Living Trusts

Posted at 10:32h in Estate Planning, Living Trusts by Phelps LaClair Law

Both a Living Trust and a Will are legal documents that state how you want your financial assets to be distributed after your death. But what’s the difference between a living trust and a last will and testament? Is one better for protecting future beneficiaries...

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