When people hear the word “estate,” they often imagine mansions, yachts, and massive investments. But the truth is, everyone has an estate. If you own anything at all—like a house or a savings account—you have an estate. So, what actually makes up an estate, and what...
It seems like the end of the year always has a way of sneaking up on you. One day you’re making summer vacation plans, and the next you’re wondering how it’s already December. And just like the year flies by, life can change in the blink...
Estate plans. You’re old enough to know they’re important. And for a while now, you’ve had that nagging thought in the back of your mind that it’s time to take steps and establish a plan for your financial future. But you don’t know what to...
Both a Living Trust and a Will are legal documents that state how you want your financial assets to be distributed after your death. But what’s the difference between a living trust and a last will and testament? Is one better for protecting future beneficiaries...
In Arizona, probate can become active for any estate valued at $100,000.00 or greater, and it can cause your estate to be held up in court for months, or even longer. Probate also involves attorney fees and additional court costs, all of which can easily...
When it comes to estate planning, millennials are well ahead of the game. Many have been assisting their parents with the estate planning process, and others have even started setting up their own estate plans. It’s never too late or too early to get started—life...
You and your spouse are both vital and healthy, and you don’t plan on getting sick. Why then, should you make the effort now to prepare for end-of-life issues? After all, you’re confident you’ve set aside enough retirement funds to give you plenty of leeway,...
A durable power of attorney (POA) is a legal document that gives someone you trust the right to make financial and/or medical decisions on your behalf. It's a good safeguard to include in your estate plan, just in case a time comes when you are...
In a previous blog post, we shared about the exercise benefits of horse riding. Today, we’d like to highlight several trail rides in our wonderful region of Arizona. We’re Phelps LaClair, and we’ve been part of the greater community around Phoenix ever since the early...
Estate planning and retirement planning go hand in hand. Just like it's never too early (or too late) to start saving for retirement, it's always good to begin the estate planning process sooner rather than later. The good news? Even if you’re just getting serious...