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…
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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…
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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…
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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…
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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…
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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,…
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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…
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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…
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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…
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The services our firm provides are largely dedicated to helping individuals, families, entrepreneurs and companies save on their legal costs. That is, our attorneys endeavor to decrease our clients’ exposure to liability and litigation. Neal Law Firm has taken this approach on behalf of numerous small businesses. Here are the top seven business legal issues…
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Federal district judge Richard M. Berman is now a famous federal district court judge. Today, Judge Berman reversed a ruling by NFL Commissioner Roger Goodell to suspend Tom Brady for four games, due to the “deflategate” dispute over underinflated balls Brady allegedly used in the AFC Championship game in January, against the Indianapolis Colts. Judge…
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Thank you for visiting neallawaz.com to learn some basics about wills and probate. First, let’s define both wills and probate: A will is a document which states who should inherit a person’s property after passing, who should administer their estate during a probate matter (the “personal representative”), and who should serve as the guardian for…
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