Beneficiaries for bank accounts can seem complicated when looked at from afar, but we’ve narrowed it done for you in this easy-to-follow blog. Check it out below! Pay on Death and Transfer on Death Designations Setting up a Transfer on Death (“TOD”) or Pay on Death (“POD”) designation on your bank account is a simple…
Details
Avoiding Probate with Probate Affidavits Also called a “small estate” affidavit, probate affidavits allow the heirs of a deceased person to collect the decedent’s property without having to open probate. This is also sometimes called the small estate probate exemption. There are two types of probate affidavits – personal property and real property. Personal property is anything…
Details
Piercing the Corporate Veil – What does it mean, exactly? First, let’s start with the concept of a corporation or limited liability company (LLC). Because they are in and of themselves “entities,” corporations and LLC’s have a legal existence – rights and liabilities distinct from their owners. So, the officers and shareholders are normally not…
Details
Scottsdale Probate Attorney Who Provides Cost Effective Representation A loved one’s passing is an understandably stressful time. In addition to grieving for a loved one, individuals often find themselves in the position of being responsible to manage their love one’s final affairs. When it comes to the legal aspect of handling a love one’s affairs,…
Details
Question: I can’t afford the commercial lease for my office. What should I do? Answer: Many business owners are faced with the difficult issue of wanting to break their commercial lease, for any of a host of reasons. And with the increased use by landlords of personal guaranties, breaking a commercial lease can be an…
Details
Question: Can my LLC be taxed as an S-corporation? Answer: Yes. One of the great features of a limited liability company is that it has numerous options for tax classification. These options include sole proprietorship/disregarded entity, partnership, S-corporation and C-corporation tax classifications. For single member LLCs or husband and wife community property LLCs, the default…
Details
Question: Do I need a living trust? Answer: It depends on your family situation, assets and estate planning goals. First, what is a living trust? A living trust, also called a revocable living trust, is an estate planning vehicle that allows you to transfer your property to other persons after passing. You can also specify…
Details