Arizona Estate & Business Law Blog
Lisa M. Pane
Partner
As a former business owner, Lisa is well versed in challenges faced by small businesses and their owners. Her unique prospective benefits her business clients with agreements, employment advice, copyright violations and succession planning. She also assists families with estate planning not only guiding them through the estate planning process but also understanding why this is so vital to their families.
Exclusions, Exemptions, Estate Tax – What to Know in 2025
As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year. Annual Exclusion Amount The annual exclusion amount for gifts in 2025...
CTA Filing Requirement Halted Again
“In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may...
CTA Beneficial Ownership Reporting Requirements Reinstated – With Deadline Extensions
The Fifth Circuit has removed the nationwide injunction concerning Corporate Transparency Act reporting. The Fifth Circuit’s decision overrides the earlier nationwide relief granted by the district court. Litigation will continue in this matter, but, as of...
Corporate Transparency Act Compliance Deadlines Suspended Nationwide
The Corporate Transparency Act (CTA) plays a vital role in protecting the U.S. and international financial systems, as well as people across the country, from illicit finance threats like terrorist financing, drug trafficking, and money laundering. The CTA...
The Importance of Funding a Revocable Living Trust
Many people create a revocable living trust to avoid probate, maintain privacy, and ensure smooth estate distribution. However, these benefits only apply if you properly “fund” your trust, meaning you must transfer assets into it. Establishing a trust without funding...
The Corporate Transparency Act Overview
Update as of 12-23-2024 On December 23, 2024, the Fifth Circuit Court of Appeals stayed the district court’s injunction against the CTA reporting requirement, reinstating the January 1, 2025 deadline for reporting compliance for companies in existence before 2024....
Powers of Attorney – Planning for Life Is as Important as Planning for Death
Many people think that estate planning is just about what happens when someone dies. However, an equally-important part of estate planning is ensuring that you are cared for while you are still alive. If you become incapacitated, even for a short period of time, who...
How to Probate-Proof your LLC Interest
Whether I’m working on a business transaction or assisting business owners with their estate planning, I always look at how the ownership of the LLC is structured. While many business owners have set up a revocable living trust in order to direct how their...
The Purpose of an LLC’s “Purpose”
When forming your LLC, you may wonder the importance of specifying your company’s “purpose,” and may be tempted to provide a hasty response or use a generic phrase such as “any purpose authorized by law.” The reason defining your company’s purpose is important is...