Everybody needs to have regular exercise to stay healthy. Yes, we are an estate planning law firm, but Phelps LaClair is also big on exercise as a way of increasing life satisfaction, good health and longevity. But not every form of exercise needs to be...
Your home, vehicles, and investments aren’t the only things you need to include in your estate plan. You should also name beneficiaries for your personal property. Treasured items like a hope chest or a grandfather clock tell the tales of your family’s history. But passing down...
When you’re looking to protect your assets for future generations, calling on the expertise of an estate planning lawyer is a smart idea. At Phelps LaClair Firm we’ve been helping families in the Phoenix Valley choose the right estate planning vehicle for their needs for...
If you are legally married, it’s important to know how your marital status will affect the distribution of your estate. For instance, whether or not your spouse inherits your property depends on which state you live in. Some states consider certain assets to be community...
If you have set up a living trust or are considering one, you may need a pour-over will. This failsafe will protect any assets you neglected to add to your living trust. Whether you intentionally left some assets out, or simply forget about them, you...
When you put your assets into a Living Trust, you know that you, as the grantor, maintain full and complete control. You are also the Trustee. As a result, you get to decide what happens with those assets. And because you are the lifetime beneficiary,...
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....
When going through the estate planning process, you may encounter words and phrases you’re not familiar with. One of the most misunderstood terms is “power of attorney.” Here at Phelps LaClair, we want our clients to fully understand every aspect of their estate plans. In...
When you first begin your estate planning journey, chances are good you will hear a lot of different terms that may confuse you. Take “last wills” and “living wills,” for example. Are they the same thing? Or do you need both? Let’s take a closer...
It can be very difficult to think about estate planning and making arrangements for your children after you pass on. Many people struggle to talk about these topics as well, and talking about estate planning with kids can be even harder. The experts at Phelps...