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Benefits of a Small Business Buy-Sell Agreement A buy-sell agreement, also known as a buyout agreement, is a legal contract between business owners that governs what happens if a partner dies, retires, or otherwise leaves the business. A buy-sell agreement benefits the business owners, their families, and the business itself. It is one of the…

What is Probate? Probate is the legal process of administering a person’s estate after their death. During the court-supervised probate process, the court validates the will, and the deceased’s property is transferred to the heirs. The primary purpose of probate is to prevent fraud after someone’s death.   When is Probate Required in Arizona? Probate…

A sub-trust is a trust within a trust. Typically, sub-trusts come into being upon the happening of an event. Usually, one single trust exists during the lifetime of both spouses, and various sub-trusts come into existence after the death of one spouse. There are a variety of sub-trusts, and the rules around them are complicated….

Estate planning is vital for all individuals, but especially gay couples who face unique estate planning concerns. It is important for LGBT couples to work with a Phoenix attorney knowledgeable about the potential pitfalls that couples can run into while estate planning. Below are four steps that gay couples should consider taking when creating an…

Succession planning is an often-overlooked part of running a small business in Phoenix. Business owners are usually heavily focused on the day-to-day operations of their company and put off planning for a future where they will no longer be in charge. However, there are numerous benefits of having an effective succession plan in place. Below…

The Paycheck Protection Program (PPP) was lifesaving for many Arizona businesses struggling to survive the COVID pandemic. Although called a loan, if recipients follow the correct requirements, one hundred percent of the PPP funds can be forgiven, essentially turning the loan into a business grant. The government does not automatically forgive PPP loans in Arizona….

If you are in the process of creating a Phoenix estate plan, you have probably heard the term “funding your trust.” You may be confused about what this phrase means, but it is important not to ignore it. Funding your trust is a crucial step in the estate planning process. Not funding your trust correctly…

Medicaid is a needs-based government program that provides health coverage to 69.8 million Americans. In Arizona, it is administered by the Arizona Health Care Cost Containment System. To qualify for Medicaid, Phoenix residents must meet strict income and asset requirements. Without proper planning, receiving Medicaid could end up depleting your inheritance. How Does Medicaid Deplete…

It is a mistake to ignore social media sites when you create your estate plan.  So much of our lives have moved online, and you should treat digital assets, like social media accounts, just like any other asset and include them in your Phoenix estate plan. Why Should You Add Social Media Sites to Your…

If you are a beneficiary to an estate in Phoenix, you will typically have to wait months and sometimes years to receive your inheritance. For some individuals, this is too long. Inheritance loans are a tool that can give you access to a portion of this cash before probate is over. Inheritance loans come with…

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