When business owners are in conflict, they must be aware of their fiduciary duty obligations to the company and the other owners.As conflict builds, an owner’s management is more critically reviewed, decisions questioned, and unpopular results criticized.Many business decisions are protected by the Business Judgment Rule.It is important for business owners to know and distinguish …
Since adoption of the Arizona Limited Liability Company Act (Arizona Act)1 in 1992, limited liability companies (LLCs) have become the business entity of choice for business people and their lawyers. This popularity is similarly evidenced in all jurisdictions across the United States. Yet, notwithstanding the widespread adoption of the LLC, in Arizona an important question …
When the love is gone and divorce proceedings are on, your future begins in the present economy. Financing a new home or refinancing an existing one is a major concern. But don’t be afraid. You can do it. And you can find someone to help you. There’s no reason to go it alone. I’ve …
It is well-settled under Arizona law that life insurance proceeds payable to beneficiaries, other than the deceased debtor, are exempt from claims against the deceased debtor’s estate.That rule has stood formore than sixty years and is supported by statute, A.R.S. S 20-1131(A), and the Arizona case, May v. Ellis, 208 Ariz. 229, 230-31, 92 P.3d …
When beginning a business, many co-owners prefer to spend time focusing on their common efforts rather than the risks associated with their business relationship. Some important questions are commonly (and understandably) avoided during this “honeymoon” phase. Unwillingness to focus on these issues while they are still hypothetical can leave the partnership on a shaky foundation …