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Below is a list of certain terms that frequently appear in commercial leases, but have meanings that may be misunderstood or misinterpreted, thus deserving of a second look. Absolute Net This requires the tenant to pay, in addition to base rent, all costs associated with the operation, maintenance and repair of the building, all real […]
On January 1, 2009, the Arizona Trust Code became effective, which provided Arizonans with a comprehensive code governing trusts of all types. On the same day, the Arizona Supreme Court adopted the Arizona Rules of Probate Procedure, which were designed to provide statewide standards and uniformity for proceedings in the Probate Court throughout Arizona. Prompted […]
Maybe you can’t take it with you, but you can decide who benefits from the estate you leave behind – unless you die without a will. In that case, Arizona law requires that a court-appointed personal representative handle your estate. Do you really want a stranger to have that kind of power? Most people underestimate the […]
Things to bring with you when you visit an attorney to plan your estate: Personal Information Address, phone numbers, email address, social security number, date and place of birth, citizenship, marital status, previous marriages. Same information for spouse, if applicable. Name, date of birth and address of each child, and whether: natural, step or adopted. […]
Affidavit of Collection A means of handling small estates (less than $50,000) by affidavit. Asset Anything, tangible or intangible, a person owns that has value. Beneficiary A person designated to receive assets from a will or trust. Beneficiary Deed A deed to convey property to another on the death of the owner. Bequest A gift […]
“The man who dies rich…dies disgraced.” -Andrew Carnegie The Arizona legislature has adopted an Arizona Trust Code (“ATC”), which is different in a number of ways from the prior Uniform Trust Code (“UTC”). Apparently, the Legislature disagreed with Andrew Carnegie’s dire warning about dying rich, since many provisions of the ATC were designed to expand […]
What is a living trust? A living trust is an estate planning tool used to avoid a probate, save estate taxes, manage an individual’s assets during life, and distribute the assets upon death. A living trust is flexible and can be changed by the maker. Assets and funds can be put into or taken out […]
Whether you are a plaintiff or defendant engaged in litigation, or are someone faced with litigation which has not yet been filed, you will probably be counseled by your attorney to consider mediating your dispute. Many people confuse “mediation” with “arbitration.” Mediation is defined in the American Heritage Dictionary as “an attempt to bring about […]
Most folks who sue someone angrily, in an effort to redress a wrong that was done to them, say “I only want my day in court.” But having your “day in court” these days is not a sure thing. The court systems in Arizona’s two most populous counties are struggling to deal with a mountain of […]
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