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Avoid Disaster With Your Single-Member LLC

By pwsadmin | September 4, 2017 | 0 Comments
Pad lock and chain securing handles to Single-Member LLC business

Do you own a single-member LLC? If so, your business can become paralyzed if you become incapacitated or die. Even a short paralysis may cause a business to collapse. Avoid this problem by doing the following: organizing single-member LLCs as manager-managed, drafting an operating agreement that both appoints a successor manager in the event of […]

Missing Trust

By pwsadmin | August 31, 2017 | 0 Comments
Puzzle showing a missing piece, to symbolize missing trust

Occasionally, a loved one dies and assets are titled in the name of a trust. Or perhaps there’s a life insurance policy life that names a trust as a beneficiary.  But … no one can find the trust agreement.  What do you do in the case of a missing trust? Life insurance policy payable to […]

What boilerplate language should a contract have?

By pwsadmin | August 9, 2017 | 0 Comments
Pen laying on unsigned contract. Does it include necessary boilerplate?

You need to sign a contract, but you aren’t sure if you’re protected. Here are two quick pointers. First, make sure you have boilerplate language to protect all parties involved. There are sentences that pretty much all contracts should have. They are kind of like a vaccination. Having it won’t hurt. But not having it […]

What are my duties as a Trustee in Arizona?

By pwsadmin | July 13, 2017 | 0 Comments
PHoto of person holding nest with money as representation of trustee duties.

As a fiduciary, you are held to the highest standard of care in dealing with the Trust assets. This means you have a legal duty of undivided loyalty to the primary beneficiary of the Trust. You must be cautious and prudent in dealing with Trust assets. As a fiduciary, you must remember, Trust assets do […]

Own an Arizona Business? You Need to Know This …

By pwsadmin | June 4, 2017 | 0 Comments
Photo of sign in business window that reads, "Sorry We're Closed."

Does your family depend on your company’s income? Are you hoping to pass your business on to a loved one? If so, read on. Here are common scenarios, and the solution. You have a serious illness, and have no Durable General Power of Attorney that specifically provides for management of your business. In this case, someone will […]

Duties of a Guardianship with Mental Health Powers

By pwsadmin | May 20, 2017 | 0 Comments
Photo of scrabble letters spelling "Mental Health"

If your loved one needs to be committed for inpatient mental health treatment in a locked facility, then you are looking at what’s called a “Guardian with Mental Health Powers”. This is a complicated process, and I strongly encourage you to get the help of an attorney. You will need to prove that your loved one […]

How to Create a Family Dynasty

By pwsadmin | December 19, 2016 | 1 Comment

I’ve been studying how to create a family dynasty for the last 10 years. It turns out that there are 8 Keys to a family’s long term success. I’ll explain the importance of these 8 Keys by telling this story. In 2012, I was fortunate to spend a couple of days with the adventure photographer, […]

Trump cannot avoid conflict with “Blind Trust”

By pwsadmin | December 17, 2016 | 0 Comments

There is been a lot of discussion in the news lately about Donald Trump needing to transfer his investments to a blind trust. For example, the Wall Street Journal suggested in a November 17, 2016 editorial that Donald Trump transfer his real estate holdings so he does not have a conflict of interest in serving […]

Will my kids be able to enjoy the same lifestyle?

By pwsadmin | October 15, 2016 | 0 Comments

“Will my kids be able to enjoy the same lifestyle as me?” That’s a question that many people worth $10 million U.S. or less have. How do I know this? Because I’ve been an estate planning attorney since 2001. A number of my clients are worth around $10 million. If your net worth is around $10 million, […]

Parenting: Raising children to be motivated

By pwsadmin | August 23, 2016 | 1 Comment

How do wealthy people raise their children to become self-motivated and resilient? The short answer is that rich parents teach their kids three main things: (1) to dream big and take risks, (2) to guard their money and spend it strategically, and (3) not to be nostalgic, but to focus on the future. In this blog, we’re going […]