Question: Do you need to update your will when you move to a new state? Answer: Yes, you should update your will when you move. Wills are governed by state law and should be updated to reflect the law in the new state of residence. Wills are a very state specific document. In Arizona,…
Details
What is a Trust and do you need one? You’ve probably heard about trusts on popular TV and radio shows. Here are answers to some frequently asked questions about trusts: Trusts – Defined A Trust, or Revocable Living Trust, is an estate planning document that states who you want to inherit your property and how.…
Details
Thanks for reading our Top Tips for Creating Your Estate Plan! To get started on your estate plan, call Neal Law Firm today at 480-699-7992.
These famous people took the concept of leaving their final wishes in their last will and testament to a whole new level. Here are some strange will requests by famous people: Napoleon Bonaparte: Wanted his head shaved and his hair divided among his friends. Ben Franklin: Left his daughter 408 diamonds but stated that she…
Details
One step of the probate process is dealing with probate creditors. This includes identifying and notifying the creditors of the deceased and settling the deceased’s debts. After death, a personal representative (the PR), assigned by either a written will or by the court, will handle the estate left by the decedent. One of the first…
Details
What is a probate bond? Probate bonds, which can also be referred to as fiduciary bonds are required by the court of individuals that are acting on behalf of others. For example, a fiduciary may be appointed by the court to manage someone’s finances, or to care for that individual if they are either too…
Details
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