Articles
BUY SELL AGREEMENTS
A Buy-Sell Agreement is important for all Arizona partnerships, corporate entities, and other business organizations. It is in the best interest of each co-owner to determine the best course of action upon the situation of an owner’s departure. To find the best terms...
DOES A MEMBER OF AN LLC OWE FIDUCIARY DUTIES TO THE OTHER MEMBERS?
Recently, the Arizona Court of Appeals said no, that members of a LLC do not owe other members common law fiduciary duties. The duties owed or not owed by members are determined by the operating agreement entered into by the members. Some have argued that due to the...
WHEN DOES A JOINT VENTURE FORM?
Many times, individuals start a new business without documenting who owns what. Later a disagreement arises and the parties are in a gray area over who owns the company assets. Under Arizona law, a joint venture is formed when two or more parties agree to pursue a...
5 KEY TRAITS FOR AN EFFECTIVE NON-COMPETE AGREEMENT
Make sure that the restrictions do not overreach. Reasonable restrictions of time and geographic territory are required in most states including Arizona. Decide on what you truly want to protect. Focus on legitimate business interest such as confidential and...
FORECLOSING ON TAX LIEN CERTIFICATES
If you pay your property taxes through your monthly mortgage payment, you probably are not concerned about delinquent property taxes. Your mortgage lender pays those taxes directly when they come due. However, some property owners pay their property taxes directly to...
UNDUE INFLUENCE IN THE FORMATION OF A WILL OR TRUST: VALID OR NOT?
A will or trust created just before a person dies that favors one or more children but excludes the other children may be subject to a challenge and would be found invalid if obtained by undue influence. Undue influence is defined as when one person overcomes the free...
LIFE INSURANCE PROCEEDS PAID TO A TRUST ARE NOT SUBJECT TO CREDITOR CLAIMS
The Arizona Court of Appeals recently held in the case In Re King, that even though the debts of the decedent were greater than her assets at death, the life insurance proceeds, payable to her trust created prior to her death, were NOT subject to creditor claims. In...
ARBITRATION VS. THE COURTS: IS ONE BETTER THAN THE OTHER FOR RESOLVING BUSINESS DISPUTES?
Arbitration is the submission of a dispute to one or more persons for a final and binding decision. The arbitrators’ decision is called an “award.” Awards are made in writing and are generally final and binding on the parties in the case. Frequently, business or...
BUYING OR SELLING A BUSINESS – SOME KEY ISSUES
Whether you are buying or selling a business, the following checklist can help to avoid problems. 1. Sale Structure. Is the sale an asset purchase, stock or equity purchase or a merger? If an asset purchase, then the buyer typically chooses which assets or liabilities...
CELL PHONES: EXPANDING EMPLOYER LIABILITY
According to some scientific journals, drivers who use cell phones have slower reaction times and more accidents than drivers who are legally drunk. Recent court decisions may indicate an emerging trend in the law to impose liability on employers for injuries caused...
ARIZONA’S ANTI-DEFICIENCY STATUTE PROVIDES HELP IF FACED WITH FORECLOSURE
If you’re facing foreclosure in Arizona of your home or rental property, there is some good news. The Arizona anti-deficiency statute, A.R.S. 33-814 provides some relief with its new anti-deficiency statute. When a real estate loan secured by a deed of trust goes into...
AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE: MANAGING DISPUTES WITH WRITTEN CONTRACTS
Sooner or later, a legal business dispute may arise whether it is external (customer, contractor or vendor) or internal (employee, partner, or investor). Written contracts are good business even if the contracts are small. Taking the time to get the agreement in...
ASSET PROTECTION: SINGLE MEMBER LLCS MAY NOT FULLY PROTECT ASSETS FROM CREDITORS
Generally, LLCs are the preferred entities over corporations for asset protection. The major advantage is that if an individual member is sued in his or her individual capacity, a judgment creditor may only obtain a “charging order” against the member’s LLC interest....
WAIVERS OR ASSUMPTIONS OF RISK AGREEMENTS: WILL THEY PROTECT YOU FROM A LAWSUIT?
Managing risks is something all people do (or hopefully do) whether in their personal lives or business. Especially so, if you engage in or sponsor activities that present a foreseeable risk of harm, such as giving horse riding lessons, operating a race track or...
ESTATE AND TRUST LITIGATION: HELPING FAMILIES FIND CLOSURE IN DIFFICULT TIMES
At Buntrock Law, our skilled estate litigation lawyer understands the emotional challenges that come with matters of trust and estate litigation. Often times, it may be necessary to go to court to challenge the validity of a Will or Trust. The reason for this is to...
NONCOMPETE AGREEMENTS: DO YOU NEED ONE?
In order to be enforceable, a non-compete agreement must be reasonable in both its length of time and the geographic territory. What is reasonable is subject to interpretation but the time and territory must be no greater than necessary to protect the employer’s...
HIRING A BUSINESS LITIGATION ATTORNEY
Many situations may require the assistance of a skilled and experienced business lawyer, such as; starting a new business, hiring employees, signing a lease, entering manufacturing agreements, limiting your exposure to warranty claims, regulatory matters, protecting...
Do I really need a will or trust if I don’t have a large net worth?
Most everyone should have some kind of estate plan. Wills and trusts are not just for the wealthy. If your net worth is more than $100,000 or you have dependent children or you own property, then you need a will or trust. If you were to suddenly become incapacitated...
Why hire a business or real estate attorney, when I can use web services such as LegalZoom or DocStoc?
You certainly can use web services, but you’ll receive no personal or individualized legal advice. Web documents are merely one-size-fits-all forms and provide no specific help for your particular situation. You need a business and real estate attorney to protect you...
I want to start a new business. How can the business attorneys at Buntrock & Gardner Law help me?
The attorneys at Buntrock & Gardner have vast experience in creating and maintaining limited liability companies, general and limited partnerships, and limited liability partnerships. We provide individualized service and explain in simple terms your options and...
New Year Resolutions: Update Estate Plan
The beginning of a new year is a perfect time to review your estate plan—and if needed—update it to ensure it continues to align with your personal goals. Estate planning goals change over time for many reasons and if you’ve experienced a life-changing event recently,...
Can You Really Trust an Online Trust?
You say you can’t afford an attorney to help you create a trust. Quite frankly, you can’t afford not to use an attorney to help you create a trust. Granted, everyone wants to save time and money. But when your family is concerned and your legacy is at stake, those are...