Long-term care planning is one of the key parts of a successful estate plan. Elder care is one component of long-term care planning. You may be far from retirement age, but it is never too soon to begin to consider what should happen if your...
Phelps LaClair is a second generation estate planning law firm with a passion for estate planning in the Phoenix Valley. In a booming economy, like we are currently experiencing, the opportunities for creating wealth are increasing. With greater wealth creation comes a need for greater...
Estate Planning is by nature a multi-generational undertaking. One of the primary reasons you plan is so you can leave your estate to your children and grandchildren. Once wealth is generated, it is important that it is not only preserved, but also nurtured, so it...
These days you can pay a fee and create your own online trust or will. The claim of the sites that offer these do-it-yourself forms is that you’ll save time and expense. But we’ve got a different perspective. At Phelps LaClair firm in the Phoenix...
In our most recent blog post we touched on several options for passing on your rental properties and real estate investments to your beneficiaries. In this post, we will look at additional factors to consider in your end-of-life planning as a real estate owner. At...
Only two things are certain, as they say: death and taxes. If you’re a real estate investor, you probably already plan for the certainty of paying taxes on your rental properties. But do you have a plan in place, should something happen to you? Phelps...
At Phelps LaClair in the Phoenix Valley, Living Trusts (and in particular, Revocable Living Trusts) are a mainstay of our estate planning. But for a living trust to be entirely effective, several steps need to be taken. First comes the important task of fully funding...
There are many hidden gems in the Phoenix Valley; natural landmarks; historical firsts; interesting eateries and pubs; and Jeffrey LaClair. Yes, we include our very own Phelps LaClair attorney, Jeffrey LaClair, in that list of hidden gems. Jeffrey has strong experience and much wisdom regarding...
An important step in estate planning is to complete the paperwork for a durable power of attorney (POA). There are two types of powers of attorney, a financial POA and a health POA. A financial power of attorney document provides for someone of your choosing...
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...