A properly drafted will can help ensure your assets are properly distributed after you’re gone. Your will should include your appointed executor, named guardians for minors, as well as a list of your assets and beneficiaries. But there are many things that are either unnecessary,...
Have you started working on your estate plan yet? There are many common myths and misconceptions about estate planning that can cause people to make mistakes with their plans, or prevent them from making one at all. If you’ve heard and believed any of these...
Don’t let your family be blindsided by an invalid will. If you’ve already handwritten your will, or if you are considering writing one, it’s important to understand whether or not it is valid in Arizona. Here’s everything you need to know about handwritten wills in...
When you’re planning your estate, it’s important that you understand the difference between a beneficiary designation vs. a will, so you can avoid costly mistakes that might impact your family’s future. At Phelps LaClair, we want to help you design an estate plan that has...
Many people ask us here at Phelps LaClair about the difference between wills and trusts. To most, the revocable living trust looks a lot like a will. They wonder if a trust can replace a will, and whether they need to create a will if...
There are so many unknowns in life. When we are young, we wonder what we will be when we grow up. As we enter young adulthood, we wonder who we will marry (or even if we will marry). We wonder about career, status, employment, friendships...
James Phelps was interviewed on TV3’s Your Life Arizona this past week and answered some questions about estate planning. James is the managing partner at Phelps LaClair, with offices in Phoenix, Chandler, and Mesa. Phelps LaClair is approaching their 40th year in estate planning. During the...
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...
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...
In Phoenix Arizona during the summertime, the temperatures can soar. The hottest temperature ever recorded in our fair city was on June 26, 1990. On that day, the thermometer peaked at a sweltering 122 degrees Fahrenheit! As a second generation, estate planning law firm in...