Clever Concealment

As a permanent is phased out, Auras and Equipment attached to it also phase out at the same time. Those Auras and Equipment will phase in at the same time that permanent does, and they'll phase in still attached to that permanent.

Phased out permanents are treated as though they don't exist. They can't be the target of spells or abilities, their static abilities have no effect on the game, their triggered abilities can't trigger, they can't attack or block, and so on.

Phasing out doesn't cause permanents to leave or re-enter the battlefield, so no "leaves the battlefield" or "enters the battlefield" abilities will trigger.