What the Revised Arizona Limited Liability Act Holds For People.

The Arizona Limited Liability Act will soon experience a major overhaul after the Governor signed the law. This act for limited liability companies will be effective immediately after August 31, 2019. However, this is for new companies. The law for existing limited liability companies will become effective from after August 31, 2020. With wholesale changes on the cards, many people want to know what they should Read More

Withdrawing From an LLC and Keeping your Capital Contribution

When most people go into an LLC, they have high hopes and big plans and want to make the business a success. Sometimes things don’t work out that way and you want to walk away early. Sometimes things are working out but you reach the stage where you feel you have done everything you can with and in the business, and it’s time to split away. In the ideal world, you will have made an operating agreement that covers Read More

Rights Of A Member Withdrawing From A LLC With No Operating Agreement – Capital Contribution

In accordance with Arizona law governing LLC companies, an operating agreement is not a requirement. However, this does not mean that an operating agreement is not highly recommended. An operating agreement is a verbal or written agreement that outlines how the company will be operated, the structure of the company and how profits and losses will be distributed. Although oral agreements are recognized in Arizona, Read More

Exploring the New Arizona LLC Act and Member Withdrawal

Company law in Arizona is surprisingly flexible when it comes to allowing members of an LLC to withdraw. At the moment, even if there is no operating agreement, a member can withdraw simply by sending a written notice to the other members of the company. The issue of requesting the return of a capital contribution, however, is more complex. The Arizona Limited Liability Company Act of 2018 aims to simplify things. Read More

What Does “Irretrievably Broken” Mean in an Arizona Divorce?

Arizona is a “no-fault” divorce state, meaning that a couple seeking a divorce in Arizona can experience a relatively easy and private dissolution of their marriage. While divorce is never truly easy on a couple, by allowing for a marriage to be dissolved if it is shown that a marriage is “irretrievably broken” the spouse filing for divorce does not need: The consent or permission of the other spouse;To air Read More

What are Covenant Marriages and Do I Want One?

Some marrying spouses take their marriage vows seriously: they truly pledge themselves to remain married to their spouse “for better or for worse, till death do [them] part.” Whether this philosophy is rooted in the person’s religious background and upbringing or whether it originates from some other source, these spouses may feel as if the traditional civil marriage process does not completely reflect the solemnity Read More

Am I Allowed to Take My Child Out of the Country?

Extended family members like grandparents, aunts, and uncles can all enrich a child’s life and usually welcome every opportunity they can get to see a new grandchild/niece/nephew. When a married couple has extended family living in different cities or states, it can be challenging to arrange visits with each spouse’s extended family members so that each extended family feels as if they are being included in the Read More

Relevant Considerations When Starting a New Arizona Business

It’s the New Year: did your list of resolutions include starting a new small business? If so, congratulations on your decision. The next question is, what kind of business are you going to form? Will you choose, for example: A corporation?A limited liability corporation?A partnership?A sole proprietorship? Or,A franchise agreement? The choice of business form for your new venture is an important decision Read More

Does My Business Need a Buy-Sell Agreement?

If you began a business with other individuals and together you co-own your business venture, you know how important it is that you know and trust the other co-owners of your business. Your decision to go into business with that other person or people was likely based on a careful assessment of him, her, or them: Do you trust them? Have they been trustworthy in the past?Are they committed to the same business Read More

Critical Financial Considerations When Navigating a Divorce

Anyone who is in the process of navigating a divorce hopes that the process will go as quickly and smoothly as possible. Unfortunately, many people make significant financial mistakes as they go through the divorce process. The financial decisions that a person makes during divorce can greatly contribute to his or her economic situation afterward, which is why it is important to have an attorney on your side helping Read More