Revocable trusts offer many benefits, protecting your assets and keeping them out of probate. They also allow you to control and access the assets in the trust at any point during your lifetime. But in spite of its name, the time when you can amend (or...
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...
At Phelps LaClair, we are often asked how long it takes for a trust to be distributed. In our experience as a second generation law firm, we know that the general rule is to have the trust distributed within a reasonable time. But what does...
Today’s blog post visits the past with a curious look at the earliest will in history, and a quick jaunt through some strange ideas for bequeathing estates to family members or friends. At our Phelps LaClair offices located in Mesa, Chandler, and Phoenix, AZ, we’ve...
There are definitely important things to include in all estate planning: making sure all of your assets are covered, naming beneficiaries, and reducing tax burdens are a few items among that crucial list. But you also want to be aware of what should not be...
Understanding what happens to a revocable trust after the grantor’s death can help you plan for your family’s future. At Phelps LaClair, we help Arizona residents create and manage many types of trusts. If you’re considering adding a revocable trust to your estate plan, continue...
The primary goal of any estate plan is to guarantee that your assets are distributed to your beneficiaries according to your wishes. However, achieving that goal isn’t always a straight-forward process. Working with an experienced estate planning attorney will give you greater peace of mind,...
There’s one crucial step that many people skip after signing their trust document—actually funding the trust. If you forget to complete this step, your assets will remain subject to probate and be vulnerable to creditors after you’re gone. No matter how detailed the instructions you...
We all want our Living Trust to work properly when the time comes. But sometimes knowing which assets to include in your Living Trust can be confusing. Phelps LaClair, located in Gilbert Arizona is here to help with your estate planning needs and to ensure...
Mother’s day is coming up, and that means Moms all over the world will be honored for their nurture, training, and love. If you’re a mother, we want you to know we value your role as an influencer more than any other person’s role in...