Having transparent conversations with your adult children about your estate plan is difficult enough without the complication of divorce or remarriage. And if there are stepchildren involved, maintaining healthy relationships while planning for the future can be even more challenging. At Phelps LaClair, we specialize in...
Establishing your future through effective estate planning is a smart move that can save you time and money. Utilizing a living trust limits the risks of your assets being tied up in court by probate, can save estate taxes, and protect inheritances for your loved...
As a trial lawyer years back, I encountered dozens of horror stories from rental properties. While rental properties may have a place in your investment portfolio, they can be dangerous assets if not properly setup and managed. Phelps LaClair is located in Gilbert Arizona where...
When we are planning for the future, having a plan in place is imperative. Setting up your strategic estate plan is a great first step, but it is also important to regularly update your plan. As years pass, situations and circumstances may change our thoughts...
People sometimes have concerns about leaving an inheritance to a particular child or other beneficiary. They may be worried about this person’s ability to handle it wisely, whether due to age or responsible capacity. Phelps LaClair, with offices in Gilbert and Scottsdale Arizona, has years...
Preparing for the future is an important part of life. An Individual Retirement Account (IRA) is one very common financial investment that includes tax benefits to help people save for their golden years and pass on an inheritance to successive generations. But if plans haven't been...
You’ve worked hard all week. You’ve made countless business decisions, answered plenty of questions, attended quite a few meetings, and/or taken on scores of technical challenges. After all that mental strain your soul is longing to de-stress, and your body is asking for exercise. Sounds...
Losing a family member is hard enough without the added stress of complications that can occur as a result of poor estate planning on the part of the deceased. But if you have a revocable living trust, grieving family members will be spared from experiencing...
Living Trusts involve making wise decisions in order to protect your financial future. Good Living Trusts successfully designate who inherits your estate after you’ve passed away and when the finances are distributed. A good plan also protects your hard-earned finances and assets from loss and...
When most people think about funding a living trust, their focus is on big-ticket items like their home, investments, and savings accounts. Cars don’t always make the list. But should you include your vehicle in your trust? The answer really depends on the car, your...