By now you have probably heard that on December 17, 2010, Congress increased the estate tax exemption to 5 million dollars. You may also have heard the new term “portability” thrown about; read that the estate, gift, and GST taxes have once again been “reunified” at the 5 million dollar level; and that this is [...]
If you’re looking for a way to protect your assets from creditors and lawsuits you should consider creating a Limited Liability Company (LLC). An LLC is a business entity that combines the benefits of a business partnership and a corporation and protects your assets while still allowing you to retain control over them. Desirable characteristics [...]
A typical Thursday night finds me meeting with other lawyers and discussing ideas useful in our respective practices. Although always trying to find new ideas to help clients, these meetings, reminiscent of old style writer’s salons, are particularly useful because of the opportunity to exchange views in an open setting. No idea is too simple [...]
If you are currently or soon may be serving as the trustee of an irrevocable trust you should be aware that the Arizona Trust Code (ATC), which became effective January 1, 2009, imposes certain new obligations on trustees of irrevocable trusts. Prior to January 1, 2009, ARS §14-7303 required the trustee to provide beneficiaries [...]