Several clients have asked about owning investment Real Estate (usually a rental property) in a Limited Liability Company (“LLC”). Usually, the main reason for clients are interested in placing property in a LLC is to provide additional liability to the owner. To understand how this additional protection is provided, assume that you have purchased a…
The Carroll Law Firm is not “a Bankruptcy Law Firm”, and it never was our intention or expectation that we would be filing as many Bankruptcy Petitions on behalf of so many individuals, families and businesses. In fact, in 2007 when the Arizona office was first opened, if you needed representation in a Bankruptcy Proceeding,…
We have heard of attorneys encouraging people to max out their credit cards before filing bankruptcy. Our attorneys strongly disagree with this advice for several reasons. First it is dishonest. Some people would say that filing bankruptcy is dishonest in itself, so why not get as much out of it as you can. Filing bankruptcy…
What are the exemptions in Arizona, and what can I keep if I file bankruptcy? Each state chooses exemptions that apply in filing bankruptcy, and can either choose to allow use of the federal exemptions, or not. In Arizona the federal exemptions are NOT available, a debtor must use the state exemptions. In Arizona, the…
Some people have a “zero balance” on their credit cards. Many people, on the other hand, carry at least some debt on their credit cards and pay the monthly charges which may exist at the end of each monthly cycle. Whether you are a person in the former category or a person in the latter…
The Carroll Law Firm, PLC is pleased to announce a new look and feel designed to make our website, CarrollLawFirm.com easier to navigate for our clients. Be sure to check it out! Also, please feel free to subscribe to this blog for all the latest updates regarding the Anthem Community and your legal needs. We…
Arizona law does not use the term “alimony,” and instead uses the term “spousal maintenance” when referring to support payments made by one spouse to another. Spousal maintenance can be awarded as part of the terms of a divorce decree, during the time between filing for divorce and the court entering a final decision, or…
In Arizona, a non-profit is not necessarily a charity. Often people make the mistake of assuming a non-profit is automatically a charity, which can leave the non-profit organization open to tax liability down the road. A non-profit is an organization is created for some purpose other than making a profit for owners or investors, but…
Many Arizona homes are currently underwater, leaving homeowners left with the decision of staying in a house not worth its value, or walking away from the house. There are two main options to consider in order to walk away from your home. You can either short-sale the home or leave the home, causing the bank…
Many Anthem residential tenants have become victims of their landlord’s inability to pay their mortgages. When a landlord fails to pay the amount due on a mortgage, banks have the option to foreclose on the property rented. One result in this situation is that the new owner of the property may evict the tenant. A…
During this time of heightened concerns over COVID-19, The Carroll Law Firm, PLC is open and can provide telephonic appointments for many types of consultations.