I recently read an article in Tucson’s Arizona Daily Star about the need for an exit plan. As an Arizona estate planning attorney, I am very familiar with the need for all business owners to plan for the time when they can’t, or don’t want to, run their businesses. Mimi, the owner of my favorite … [Read more...] about What Is Your Exit Plan? If You’re In Arizona and New Mexico, You Need One!
I was giving a presentation the other day, and a couple of the people in the crowd claimed that lawyers are too expensive. But that statement, on its face, is too broad to be true. Is $10? Is $1,000 expensive? Is $5,000 expensive? What about $10,000? Obviously, if you answered $1,000 is … [Read more...] about Are Attorneys Expensive?
People face many important decisions when creating an estate plan. These decisions require a great deal of thought. One of the most important decisions to make is the selection of beneficiaries and the method of distribution to beneficiaries. Consideration of beneficiaries and the distribution … [Read more...] about Distributing Your Assets
As a third follow-up to my previous blogs about “The Talk” Part One and Part Two, I thought I would address what else should be discussed outside of health care decisions. Therefore, this blog will discuss what should be talked about with your other decision makers (i.e., Successor Trustees and … [Read more...] about “The Talk” Part Three
Like a lot of Americans, you may live in one state and own real estate or tangible personal property in a second state. If you don’t have proper estate planning completed, the intestacy laws of two different states will determine who will inherit your property; and the end result may well be two … [Read more...] about What happens after you die when you own property in more than one state?
LLC stands for Limited Liability Company and is a fairly recent entity structure. Its creation and operation are governed by state law. The owner of an LLC is referred to as a member and the manager of the LLC is referred to as a manager. The LLC is a hybrid business entity that combines the best … [Read more...] about What is an LLC and why have one?
Many small business owners have failed to implement estate planning for their business. The owner may feel that it is unnecessary, too costly to create or something that can be delayed until later. Unfortunately, your failure to plan could result in the failure of the business, loss of its income … [Read more...] about Will Your Small Business Survive Your Death?
Many small business owners have failed to implement estate planning for their business. The owner may feel that it is unnecessary, too costly too create or as something that can be delayed until later. Unfortunately, your failure to plan could result in the failure of the business, loss of its … [Read more...] about Will Your Small Business Survive Your Death?
There are many noncitizens who live and work in the United States. Many of them are married to U.S. citizens. When it comes to estate planning for these couples, one needs to be very careful as the estate planning rules for married couples who are both U.S. citizens is quite different from those … [Read more...] about Estate Planning with a Non U.S. Citizen Spouse
IRA's can be one of your largest assets. They are the results of your years and years of toil and labor. Because of the trapped taxes within the IRA, they can present problems for your beneficiaries when they are inherited. If the processes of titling and transferring these important assets are … [Read more...] about What is the best way to protect and pass on my IRA?