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Intergenerational Wealth and Your Estate Plan When accumulating a valuable portfolio of assets, investments, and money, it is essential to ensure the wealth passes to future generations. An estate plan protects your legacy by leaving that intergenerational wealth to your loved ones. With these plans, children and grandchildren will not have to worry about housing, […]
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How To Donate To Charity With Your Estate Plan There is no shortage of laudable charitable organizations and causes. According to the National Center for Charitable Statistics, there are more than 1.5 million registered nonprofit organizations, and that is just in the United States. Whether the cause you most support is protecting children, demanding fresh […]
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Checklist Before Buying a Business Many individuals buy an existing business because it is an enticing investment opportunity. These businesses are already established, and they may already have a solid revenue stream. However, that is not always the case. There may be hidden problems with the company or its practices. When doing your due diligence, […]
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Understanding Federal Estate Tax Laws Many people who have an inheritance to give to loved ones want to maximize it, not hand over a significant portion to the federal government for taxes. However, if you do not carefully plan your estate, this is exactly what can happen. An experienced Arizona estate planning lawyer can explain […]
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Force majeure refers to a common contractual clause that––in essence––divests one or both parties of liability in the face of an extraordinary event that is beyond the control of either. If an event that qualifies as force majeure occurs, one or both parties to the contract may be excused from performing some or all of […]
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A person’s estate plan is an expression of his or her financial legacy and the primary tool for passing assets and property to loved ones according to the person’s wishes. Many people shy away from the topic of estate planning in response to legal complications and the inevitable emotional component. However, having a solid plan […]
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Common estate planning mistakes occur when the applicable laws are not understood or when care is not taken to consider contingent circumstances during the planning process. Estate plans are created to match a person’s unique needs and to ensure that his or her wishes will be carried out without unexpected consequences. If you are ready […]
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Having access to credit can be essential for a new business to survive and grow, yet lenders are not always willing to extend credit to businesses that do not already have a well-established credit history without a personal guaranty. While a personal guaranty can help a business obtain credit, it poses personal financial risks to […]
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According to the Family Business Alliance, family businesses make up approximately 80% to 90% of all businesses in North America, with 5.5 million family-owned businesses operating in the United States. Given the prominence of family businesses in the United States, it is not surprising that people frequently confuse estate planning with business succession planning, assuming […]
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According to The American Bar Association, undue influence is defined as a fiduciary or confidential relationship between two people where one person influences another person to enact their will instead of the influenced person’s will. In other words, undue influence is when someone close to a person uses coercive tactics – such as affection or intimidation – to financially exploit someone else. For example, a con artist might try and befriend an elderly person online and trick them into wiring them large amounts of money, or a caretaker might isolate and then convince their dependent to leave their estate
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The purchase or lease of commercial real estate can come with its own set of problems. Many of these issues have been around since the beginning of commercial real estate, but some problems have recently developed due to changes in the ways that people work and live. If you have any issues related to your […]
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Choosing the right business entity is an essential step for all business owners. Whether growing the business or starting a new venture, understanding your choices regarding how to legally form your business can help owners find suitable options for them. A business’s structure has many ramifications, including legal, tax, and financial liabilities. If you need […]
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Employee handbooks are a crucial tool for company leaders and human resources professionals. While they are essential for company policies and compliance, there is much more to employee handbooks than many people realize. Organizations can use handbooks to relay company visions and culture. They provide a place to go to for guidance while people are […]
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Medical privacy laws are in place to ensure an individual’s ability to have sole access to his or her private medical records, which is an important legal right. In an emergency—or at the end of life—however, these laws can become a challenging issue. If you need someone to make a medical decision on your behalf, […]
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Piercing The Corporate Veil—Why Business Formalities Are Important For Small Businesses The legal term “piercing the corporate veil” describes a situation in which a court allows the people behind an LLC or corporation to face personal liability in lawsuits. While these types of business entities are often formed to protect the owners, shareholders, and board […]
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Does Arizona Have An Inheritance Tax? Any Arizona resident who has recently received an inheritance may be asking, “Does Arizona have inheritance tax?” The simple answer to this question is, “No.” Although there used to be an Arizona inheritance tax, Governor Napolitano signed a bill to permanently remove all inheritance, gift, and estate tax requirements […]
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