Lee Phillips on a Will Vs an Estate Plan
When planning for the future, many people think that having a Will is enough to settle their affairs. While a Will is an important part of the process, it’s only one piece of a larger strategy known as an Estate Plan. In today’s blog post, we dive into the key differences between a Will and an Estate Plan, based on insights from Attorney Lee Phillips. What Is a Will? A Will is a legal document that specifies how you want your assets to be distributed after your death. Many lawyers recommend creating a Will to ensure your property is passed on according to your wishes. However, for real estate investors or individuals with significant assets, a Will alone may not cover all aspects of managing your affairs. That’s why it’s important to look beyond just a Will. What Is an Estate Plan? An Estate Plan is a more comprehensive approach
Your Trust Is Not Set It and Forget It
Signed your trust and stopped there? That’s an empty box. What “funding” a trust really means for real estate investors — and why it can’t wait.
Wholesale Under Attack in Kansas
On March 19, 2026, Kansas Attorney General Kris Kobach filed an enforcement action against a local real estate wholesale and staff. This is a key case you need to pay attention to if you wholesale houses.
The New Missouri Wholesale Disclosure Law: What Passed, What It Means, and What the Industry Is Saying
Missouri SB 973 goes into effect Friday August 28th, are you ready? Attorney Julie Anderson updated us with what we need to know, the forms that are required and is taking questions August 26th.
Lee Phillips on Two Ways to Avoid Probate of an LLC or Small Business
If you own an LLC or small business, one thing you may not have considered is how to avoid probate when the owner passes away. This can be a significant issue, as many small businesses fail when they get caught up in the probate process. In today’s video from Lee’ PHillips, we’ll cover two key ways to ensure your business avoids probate and continues to operate smoothly after the owner’s death. Avoid Probate of an LLC or Other Small Business 1. Have the LLC Owned by a Living Revocable Trust One of the most effective ways to avoid probate for your LLC or small business is to have your Living Revocable Trust become the member of your LLC. This means that the trust is officially listed as the owner of the LLC on all paperwork, including the operating agreement. When setting this up, remember to include the name of the
Case Study: How a $2.1 Million Legacy Became $300,000
A true story: a real estate investor built a $2.1 million portfolio for his daughter — then died with no plan for who would run it. Two years later it sold for $300,000. Here’s exactly what went wrong, and the two dates that can keep it from being your story.