There is a famous saying: “It’s not so much what you earn that’s important, it’s what you can keep.” Everyone is on the lookout for ways to reduce their tax burden. Phelps LaClair is a 2nd-generation estate planning law firm serving Chandler, Mesa, Phoenix and...
You’ve begun to set in place a Living Trust that will protect your assets and keep your estate from going through the expense and delay of probate. But there’s one area of your planning that has been causing you a bit of difficulty: you’re struggling...
You’ve begun taking steps toward planning your estate. And rather than creating a will, you’ve decided to establish a trust fund, which, if funded properly, will enable your assets to be privately distributed to your loved ones without the delay or expense of probate court....
Why Do You Need a Revocable Trust? “Where there’s a will, there’s a way” is an oft-quoted saying that means if you want something badly enough, you will go to extraordinary lengths to get it. At Phelps LaClair, serving Chandler, Mesa, Phoenix and Scottsdale, the saying...
Aretha Franklin has been in the news this week. She died last August without a will, and her estate of $80 million dollars has been tied up in probate court. It was announced several days ago that as some of her belongings were being moved...
What happens after the grantor of revocable living trust dies? Phelps LaClair, serving Mesa, Chandler, and Phoenix, has heard this question hundreds of times. In fact, revocable living trust distribution is one of the things written into every trust we design. But if you have...
At Phelps LaClair, we love the springtime. It’s a perfect time for looking ahead in anticipation of new life and new challenges. Spring is the time when a young man’s fancy turns to . . . well, you know. When birds are building nests and...
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...
There are many kinds of trusts, and sorting through which one is right for your estate plan can feel a little like trying to figure out the best car to buy among the more than 240 models available in the United States. Fortunately, there are...
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, serving Scottsdale...