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If you have substantial assets, come into sudden wealth, or are in a risk-prone business, you really should consider how you can protect your assets against possible lawsuits. Fortunately, there are several ways you can keep your financial holdings secure. 1. Liability Insurance Your first line o...

No matter how large or small your estate, your assets and family should be protected when you die. Creating a proper estate plan is vital for that eventuality. Here are some easy steps you can take to ensure your estate plan is in place and your assets will be protected and passed on appropriatel...

In today's world, in the midst of a global pandemic, you may be looking at your paperwork for your business and your life. That's a good idea. When the possibility of severe illness and even death are possible, it's important to revisit your estate plan. But do your college-aged children need to ...

Asking a lawyer to prepare a boilerplate contract is akin to fingers scratching a chalkboard. Lawyers hate writing them—or even being asked to write them—because they devalue their services. Clients only think attorneys love them. Why Are You Asking for That? For some reason (actually I know the ...

When it comes to running your business—especially if it's a small business—you may be inclined to reduce costs wherever possible. One of those costs could be in legal services. Will web legal forms stand in place of hiring a good business attorney? When Web Legal Forms May Be Sufficient There are...

If there was a single piece of advice that I might give to clients who are considering going into business with friends and family, it would be to seek out every other possibility. As an attorney who has spent a great deal of time in litigation unraveling the horrible consequences when these rela...

As a small-business owner, collecting the money you are owed can be critical to your success. Especially in light of what is happening in the economy now, the ability to increase cash flow is imperative. Unfortunately, many of your customers might also be experiencing cash-flow problems now, whic...

If you have a renter who signed a lease and your property is at risk of foreclosure, that renter may have some protections and rights that you should be aware of. What the Federal Law Says In 2009, the federal law known as the “Helping Families Save Their Homes Act of 2009” was enacted. The aim o...

It's just part of life and business that we get involved in contracts. Almost any contract that is properly drafted will have a contract notice provision, or clause. This clause states that the parties are agreeing to receive notices about matters relating to that contract. Unfortunately, this pr...

When it comes to creating single-member operating agreements, some business owners are wary. After all, you are the only member. But could it be considered a type of insurance for your business? Take for instance if you live in a place where it rarely rains, such as Phoenix. Do you still own an u...

News about the coronavirus is everywhere. And even if we are completely healthy, all of us have been affected by the situation in some way. Although it may seem as though circumstances are spinning beyond our control, we are not powerless. There are some COVID-19 estate planning steps we can take...

When thinking about estate planning, many people think of a trust—and rightfully so. A trust is an excellent way to avoid probate and ensure your assets go to the people you want to have them. But many people unfortunately forget about transferring assets to the trust. Even if you are the trustee...

As an estate planning attorney, I receive all kinds of questions regarding passing on and protecting assets. Recently, I received a question from an older, single female. Jen is 57 years old, not married, has no children, and isn't close to any extended family members. For now, she manages her ow...

Have you created an estate plan that lays out how you'd like your assets to transfer to your heirs when you die? If you're like 68% of Americans, you likely haven't. And that could leave your loved ones wrestling with probate court, which can be agonizing when they are already grieving your passi...

As a sole proprietor, you and your business are the same. When you die as a solopreneur, so does your business. It may sound harsh, but it's the truth. When you die, your family will have to sell any assets of the business (if you have any) to pay off debts. Anything left will be distributed acco...

While thousands of LLCs, or limited liability companies, are formed every year in Arizona, that's just the business entity. What about the people who are members of the LLC? If a member gets divorced, is the LLC considered community property? Defining Community Property Arizona is a community pro...

There's a reason it's called a “limited” liability company and not a “no liability” company. But just calling yourself an LLC and filing your articles of organization isn't enough. If something goes wrong, that LLC alone won't be enough to protect your personal assets. In fact, you may have compl...

Many people come to me with questions about Arizona divorce law and what happens to their assets in the case of a divorce. Before anything else, I always suggest people change their beneficiary designations and rewrite wills, trusts, or estate plans in the case of divorce. However, accidents can ...

Protect Your Real Estate Investment I am often asked by clients whether it makes sense to transfer a real estate investment property to a limited liability company. This is called a quitclaim deed to LLC. This question comes up for investors who own only a few residential investment properties. T...

There are no two ways about it: getting divorced is an exceptionally emotional time. In addition to the emotional highs and lows, there are the legalities to address. You have an overwhelming number of decisions to make and things you should think about it. It's hard to even consider that list of...

We are happy to announce that Poulos Law Firm is one of the few Arizona law firms that can help with all aspects of managing the legal needs of the aging and disabled. As acknowledgement of our expertise, Gregory Poulos has been certified by the Supreme Court of Arizona as a licensed professional...

A trust is a way to help you control who will receive distributions of your wealth—on your terms. A well-crafted trust can preserve your legacy after you die, as well as help your family avoid the hassle of probate court. While you now understand this important legal document, the next question i...

There are many advantages in using standard contract forms if you do similar or multiple transactions. Often, such forms have evolved from earlier litigation battles and the editing of legions of attorneys. While I often counsel clients who are presented with such contracts to have them reviewed ...

What would happen to your young children should something happen to you? Have you named a guardian in your will? Have you created income streams or designated specific assets to see to their well-being into the future? If you want to leave assets to minor children, you need to plan for it now. Co...

When you think of financial abuse of the elderly, you may have certain images that come to mind. Perhaps it's the greedy nephew. Or a money-hungry elderly care provider. While not all instances look the same, one thing is certainly true: financial abuse of the elderly is becoming more common. Bab...