Negotiating Contracts for the Young Athlete

As professional sports become more lucrative, more athletes are signing contracts with teams, agents and sponsors at an early age. Of course, teams have negotiated hundreds, if not thousands, of contracts, and the prospect of dealing with them…

10 Steps for Protecting Your Wealth

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…

Chapter 9 Bankruptcy Protection for the Financially Troubled School District

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…

Protecting Assets at Risk: Bankruptcy Options for Individual Investors and Other Business People

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…

Is That Personal Guaranty Enforceable?

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…

LLC Payment Classifications: Member Distributions vs. Compensation

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,…

Do Directors and Officers Owe Fiduciary Duties to Creditors?

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…

Eight Things a Debtor Should Never (or Almost Never) Do

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…

Phoenix and Yuma Attorneys Committed to Your Legal Interests

The CARES Act: Unprecedented Relief for Small Business By Brian Spector • 31 Mar, 2020 • On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the largest economic relief bill in American history,…
Yuma, Arizona Social Media Divorce By Schneider & Onofry, P.C. • 13 Aug, 2020 • Increasingly, more people are noting that the cause of their divorce is due to social media use. Social media leads to weekly arguments…