Besides the peace of mind it offers, one of the main advantages of a revocable living trust is the ease of making changes according to your wishes. Amending a revocable trust is a fairly simple process and help from your estate planner will make it...
“Kids! What’s the matter with kids today?” This famous song from Bye, Bye Birdie! Tells the feelings of both love and frustration that parents have concerning their children. At Phelps LaClair, we have experienced the deep emotions that parents go through when they are considering...
Asset Protection is something that anyone with significant assets needs to consider. We live in a time when many Americans believe that they have the right to sue anyone at any time for any reason: nearly $300 billion in lawsuits is filed in this country...
Have you recently created a living trust? That’s fantastic! Trusts are wonderful tools for protecting estate assets like bank accounts, money market accounts, properties, businesses, cars, boats, and more. Another big benefit of living trusts is that they keep your estate out of probate court....
There's nothing worse than watching your hard-earned assets dwindle during your golden years. But that is exactly what can occur as a result of spending time in a long-term care facility. Unfortunately, more than half of older Americans will end up in a skilled nursing...
Developing a family cabin succession plan requires long-range planning that involves the whole family. This may seem obvious, but cabin owners should confirm that each child or other prospective new owner has an interest in becoming a cabin owner. After it’s determined that there is cooperation...
Last Will and Testament—This is what many people think estate planning is. The truth is that while a will is part of it, an estate plan is so much more. At Phelps LaClair, we believe that everyone needs an estate plan, no matter how much...
Phelps LaClair is a second generation estate planning law firm serving Chandler, Mesa, Phoenix and Scottsdale. Our business is designing estate plans that will protect your assets while you are living and help you to pass them on to your beneficiaries when the time comes....
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...
Which are the best vehicles for estate planning: living trusts or limited liability corporations? Phelps LaClair has prepared thousands of estate plans for our clients in the Phoenix Valley. We can say with certainty that there is no “one size fits all” estate plan. Some...