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Advantages and Disadvantages of Irrevocable Trusts

One of the most common questions when considering trusts is whether to make them irrevocable.  The most common type of trusts, however, are “revocable living trusts,” which can become irrevocable upon the death of its creator (i.e., “grantor” or “trustor”) and often leads to confusion about revocable versus irrevocable trusts. The following is a brief …

Common Questions Clients Ask Us About Trusts

Planning for the end of life is one of our clients’ most difficult tasks. When developing an estate plan, trusts may be something you consider, regardless on an individual or family’s net worth. These are some of the most common questions clients ask us about trusts. What is a Trust? In general, a trust is …

Maintaining Control: When a Debtor in Receivership turns to Bankruptcy, a Secured Creditor should turn to the Bankruptcy Code.

The appointment of a receiver over a borrower’s assets is a powerful tool for the secured creditor when included as a default provision in a well-crafted loan document.Pursuant to Arizona law, a receiver “protects and preserves the property” serving as the creditor’s collateral.The law effectively gives the receiver control over the debtor’s property and allows …

Real Estate Financing: Current Trends and Opportunities

Introduction There is a genuine concern about the availability of funds for the long-awaited and much anticipated real estate market recovery in Arizona. With the literal collapse of the savings and loan industry and the current problems being experienced by the banks, these traditional sources of financing cannot now play the role that they did …

Payment of Legal Expenses:The Hidden Protections Available to Corporate Directors and Officers

Arizona law provides several significant protections to directors and officers.Their ability to receive reimbursements and advances for legal expenses is one such protection.1This often overlooked protection can dramatically affect the feasibility, outcome, and cost of litigation. Arizona law permits both directors and officers to receive reimbursements and advances for legal expenses.Importantly, Arizona law does not …

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