Have you started working on your estate plan yet? There are many common myths and misconceptions about estate planning that can cause people to make mistakes with their plans, or prevent them from making one at all. If you’ve heard and believed any of these...
Don’t let a simple mistake undo all the hard work you put into writing your will. If there is a mistake in your will, it could make the will invalid or prevent your assets from ending up in the right hands at the right time....
Settling a loved one’s estate is already a difficult process. But it’s even more stressful when siblings and other family members start to fight over who gets what. Luckily, there are many ways you can prevent or at least minimize disputes after you pass. Let’s...
Choosing the right executor for your will is one of the most important parts of an estate plan. But what happens if you or your executor move to another state? Do you need to draft a new will? Can you have an out-of-state executor? Here’s...
Have you drafted your will yet? If you have one, when was the last time you made an update? Many factors can invalidate a will, such as moving to a new state or changes in state laws. Whether you still need to draft your first...
Trusts aren’t just for the wealthy, they’re for anyone looking to save their family time and money after they pass away. There are many reasons for creating a trust, from controlling the distribution of your assets to protecting loved ones with disabilities. At Phelps LaClair,...
It can be uncomfortable to talk to your children about their inheritance. While you don’t have to tell your children exactly how much they will inherit, it is a good idea to have a conversation with them about what to do with an inheritance. If...
Congratulations on setting an appointment to meet with an estate planning attorney! That is an important first step in setting up your estate plan. If this is your first time speaking with an advisor, chances are good you have questions on what to bring to...