Professional Athlete’s Survival Guide – 2018 Because of the large dollars involved with sports, professional athletes are in a position to do great things for themselves, their families, and whatever cause they choose to champion. They can establish a legacy for generations to come. But they can also squander that opportunity. Your first two years […]
Like most school districts, the ABC Public Schools financed the district’s capital improvements by issuing bonds. This was fine at first, as each year enough property taxes were levied to service the bond debt. Eventually, circumstances changed beyond ABC’s control. Economic conditions and property values in ABC’s district declined, and the tax rates had to […]
The Great Recession took a toll on many individual investors and business owners. Declining real estate and other asset values, combined with weak business revenues, eroded wealth and financial stability, forcing the cancellation or postponement of projects no longer feasible in the current economic landscape. That is especially so for those who borrowed or guaranteed […]
At first glance, a guaranty’s language can seem ironclad. Uncompensated guarantors are often said to be “favorites of the law,” however, and the courts will strictly construe the guarantor’s undertaking. Moreover, various defenses to the enforcement of personal guaranties have evolved. Three of them are discussed below. In order to bind a marital community under […]
Those who do business through a closely-held limited liability company (LLC) often receive their share of business profits in the form of member distributions instead of guaranteed payments or compensation.[1] They may be advised, for example, that there are tax advantages to doing so.[2] What they may not realize, however, is that paying LLC members […]
Arizona follows the “Trust Fund Doctrine.” It was first recognized here in A.R. Teeters & Assocs. v. Eastman Kodak Co., 172 Ariz. 324, 836 P.2d 1034. (App. 1992), in which the Arizona Court of Appeals explained: “The theory of the trust fund doctrine is that all of the assets of a corporation, immediately on its […]
Financial Distress June 2020 After years of helping borrowers with their debt restructuring options, in and out of bankruptcy, I have compiled a list of eight things they should avoid. View Brian Spector’s video version of this article. The Great Recession and its aftermath were an extraordinarily difficult time for many investors and business owners […]
Debtor Protection and the Arizona Homestead Exemption By Brian Spector • 06 Jul, 2020 • The Arizona homestead exemption, found in A.R.S. § 33-1101, protects up to $150,000 of equity in the debtor’s homestead, primarily against the claims of unsecured creditors, including those who obtain judgments. It does not protect against deeds of trust or […]
© 2013-2020. Schneider & Onofry, P.C., Phoenix-Yuma · Se habla español. The act of visiting or communicating with Schneider & Onofry, P.C., via this website or by email does not constitute an attorney-client relationship. Communications from non-clients via this website are not subject to client confidentiality or attorney-client privilege. Further, the articles, discussion, commentary, forms […]
© 2013-2020. Schneider & Onofry, P.C., Phoenix-Yuma · Se habla español. The act of visiting or communicating with Schneider & Onofry, P.C., via this website or by email does not constitute an attorney-client relationship. Communications from non-clients via this website are not subject to client confidentiality or attorney-client privilege. Further, the articles, discussion, commentary, forms […]
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