If you own a small business in Albuquerque with just a few partners, chances are it’s set up as a closely held corporation. This is a common choice for family businesses, startups, or tight-knit teams. Unlike big companies with lots of shareholders, closely held corporations have a small group of owners. But even in a small group, disagreements can pop up. That’s where understanding and enforcing shareholder rights comes in. Here’s what you need to know to protect yourself and your business....

Creating a valid will in Wyoming is not especially complicated, but the formalities matter. A document can clearly state what you want and still create problems if it was signed incorrectly, witnessed by the wrong people, or written without accounting for property that passes outside the will. Here are the principal Wyoming rules—and some of the mistakes worth avoiding. Who Can Make a Will in Wyoming? Under Wyoming law, a person of legal age and sound mind may make a will. Wyoming's age of...

Imagine you own a house in Wyoming, and you want to make sure it goes to someone you love—like your kid or a close friend—after you pass away. You could write a will, but that might mean your house has to go through a court process called probate. Probate can take time, cost money, and feel like a hassle for your family. But there’s an easier way in Wyoming: a transfer on death deed (or TOD deed for short). So, what is it? A TOD deed is a simple legal paper you sign while you’re alive. It...

Talking about estate planning can feel tough. It’s about what happens to someone’s money, house, or stuff after they pass away. No one likes thinking about that, especially not your loved ones. But it’s a conversation worth having. It can save a lot of stress later. Here’s how to bring it up in a kind, simple way that doesn’t put anyone off. Start with Love, Not Law Don’t jump in with big words like “will” or “trust.” That can sound cold or pushy. Instead, start by showing you care. Say...

Planning what happens to your money and property after you’re gone is a big deal. But it gets tricky when you have a child who struggles with addiction. You want to take care of them, but you also want to make sure your hard-earned assets don’t make their problems worse. Here are some key things to think about. 1. Don’t Give Money All at Once If your child has addiction issues, handing them a pile of cash might not be the best idea. They could spend it on drugs or alcohol instead of things...

Picture this: You’re at home, writing down who you want to get your things—like your house or car—after you’re gone. You use a plain...

For many Albuquerque small-business owners, an LLC taxed as an S corporation can be a useful structure. But the terminology matters: an S corporation is generally a federal tax classification, not a type of New Mexico business entity. A business can organize under New Mexico law as an LLC or corporation and, if it qualifies, elect S corporation tax treatment with the IRS. An LLC that makes the election remains an LLC under New Mexico law. LLC or Corporation Under New Mexico Law? A New Mexico...

Step 0: Be Sure You Are Choosing Your Ideal Business Structure (Why a Sole Proprietorship Might Not Be the Best Choice) Before you...

Owning a house is a big deal for most people. It’s where you live, make memories, and maybe even plan to pass it down to your family one...

If you own firearms, you might have heard of something called a “gun trust.” It’s a legal tool that helps people manage their guns, especially certain kinds that are regulated by the government. But why would someone want to set one up? Let’s break it down. First, a gun trust is a type of trust—a legal arrangement where you put your property (in this case, guns) under the control of someone you choose (usually yourself) called a trustee. You also set the rules for how the guns can be used...

When it comes to planning what happens to your assets after you’re gone, you’ve got options. The two biggest are setting up a trust or...

Trusts are a great way to pass on money or property to your family or loved ones after you’re gone. They can also help avoid some legal...

Estate planning might sound boring or complicated, but it’s really just about deciding who gets your property and money after you’re...

Have you ever thought about who should get your favorite necklace, that old family rocking chair, or maybe a special painting after...

Imagine you’ve set up a trust—a legally binding document that says how your money or property should be handled after you’re gone or if...

If someone passes away and leaves a will, you might wonder: Does that will always have to go through a process called probate? In New...

Creating a will might sound complicated, but it doesn’t have to be. A will is a technical document that says what you want to happen to...

When you’re planning what happens to your stuff after you’re gone, you’ve probably heard about a will . It’s a legal paper that says who...

You’ve worked hard your whole life. You’ve got a house, some savings, a car or two, maybe other valuable assets. What happens if you...

When someone gets sick, grows old, or passes away, figuring out who handles their affairs can get tricky. Two big roles come up a lot:...