A living trust keeps your assets out of probate and provides numerous other benefits as well. However, it’s important to understand the limitations of a living trust if you want to ensure that your assets are properly protected. If you’re concerned about the possibility of getting...
At Phelps LaClair, we love children. They remind us that we need to be looking ahead in anticipation of their lives and their challenges. We all desire that our ceiling should be their floor. So in the spirit of building a legacy that you can...
Trusts can be used to your advantage for personal and business reasons to accomplish your goals of reducing or eliminating your estate taxes. Other benefits of trusts include: asset protection, probate avoidance, and safeguarding from creditors or lawsuits. Many types of trusts exist, and they each...
If you’re thinking of starting a business in Arizona, you want to do it right. You’ve probably heard about a Limited Liability Company, or LLC, and you may be considering this as an option for your startup company. There are many benefits to forming an...
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...
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...