You don’t have to be rich to set up a trust fund for your child. In fact, it’s a move every parent should make. Setting up a trust fund can help secure your child’s financial future by protecting their inheritance from taxes, probate, and creditors....
Creating a trust is a thoughtful and strategic way to ensure that your assets transfer seamlessly to your beneficiaries. However, one key aspect of building a successful trust is choosing the right trustee. The trustee must safeguard your assets and uphold your wishes when distributing...
Revocable trusts offer many benefits, including protecting your assets and keeping them out of probate. They also allow you to control and access the assets in the trust as well as make other changes at any point during your lifetime. If you've already set up...
As of the middle of September, 2020, Maricopa County has 710 active COVID-19 cases. 606 of those cases are found in long-term care facilities (166), assisted living facilities (364), and rehab facilities (76). We have long advocated for everyone to have an estate plan that...
Over the 4th of July weekend, I came home from a trip to one of my favorite places on earth: Alpine, Arizona. This is where my family has had a cabin since I was 5 years old. The cabin itself doesn’t amount to much, but...
Phelps LaClair is a premier estate planning law firm in the Phoenix Metro area. We are well acquainted with folks who want a solid estate plan. But they also feel an urgency to get it done quickly at this time. We understand that. And we...
aaa Protecting your assets is vital to you. And they face many potential risks during your lifetime, such as: lawsuits, divorce, creditors, or bankruptcy. Some people choose to dissolve a living trust to protect their assets in a divorce. If you’re facing a lawsuit you might be...
People who are single and childless often assume they don’t need estate planning services. While it’s true that estate planning can benefit married couples and people with children, the reality is that estate planning is for everyone. Here’s why estate planning is so important, whether...
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...