Deryck R. Lavelle has over 7 years of experience representing corporate and individual taxpayers in valuation and property tax disputes against State and local governments throughout the State of Arizona. His representation extends to office, retail, industrial, hospitality and multi-family residential property owners, oil and gas companies, those in the air and ground transportation industry, telecommunication and utility providers, real estate developers and agricultural owners. To date, he has successfully obtained property tax refunds in excess of $10 million for his clients. Deryck’s expertise in successfully advocating for reduced property values and lower property taxes may be of interest to our clients who own substantial real estate holdings in Arizona or those who simply wish to pay less in property taxes.

County Assessors throughout the State will shortly be mailing annual notices of valuation to all property owners. If you own property in Arizona and wish to reduce the amount you pay annually in property taxes, please contact Deryck directly at (480) 991-9077, or via email dlavelle@legalcounselors.com.  We are glad to have him as part of our firm, and available to assist our clients who have need for his unique area of practice.

Sincerely,

Eddie A. Pantiliat

If we can assist you or your group, please contact our Speaker Bureau Coordinator, Christine Bunch, at 480-991-9077.  She will be happy to assist with the arrangements and scheduling the event.  We are not only never too busy for your referrals but never too busy to help make your meeting a success.

Sincerely,

David B. Goldstein

These are some of the things that I came up with for what I hope for in the year to come.  Feel free to share yours with me, if you want.  Here is my, as David Letterman would say, “Top 10:”

1. Good health for all of my family and friends;
2. World peace;
3. Prosperity for those who work in order to support their families;
4. The continued success of America serving as a leader for all nations;
5. Unemployment to decrease;
6. Housing crisis to stabilize;
7. Keeping old friendships strong and building new ones;
8. Being proud of my children’s grades and their behavior;
9. That my wife continues to cook fabulous meals that we share with others;
10. That the Suns, Yankees, and New York Giants all win championships.

Of course, this list can go on and on, but I wanted to focus on those things within my control, those that are out of my control, and those that I just plain wish for.  I promised myself to try to accomplish as much as I can that is in my control.  Hopefully, that will lead to a year of fulfillment.

I wish you and your families all of the best in this coming year and hope that your hopes, whatever they may be, will be realized as well.

See you next year!

Very truly yours,

Eddie Pantiliat

It has been this way for over 41 years, ever since the Phoenix Suns’ first season.  My family has had season tickets for the Suns since the very beginning, from the days in the old Veterans’ Memorial Coliseum when the coaching staff consisted of Johnny “Red” Kerr, one assistant coach and the twelfth player on the bench, Neil Johnson, a/k/a “The Clipboard kid” whose main job was to hold the coach’s clipboard so he could have it during the time outs.

Along the way, there have been many thrills and disappointments.  The graceful swoop of Connie Hawkins who could cradle a ball in one hand as he dunked over Wilt Chamberlain.  The sweet, graceful jump shot of Walter Davis on which Michael Jordan modeled his own beautiful jump.  And who can forget Charles Barkley with one of the most expansive posteriors in the athletic world carving out space leaving nothing behind.

And twice in those 41 years we came very close, in 1976 when the Suns and the Boston Celtics played what is arguably the greatest game in the history of the National Basketball Association, the classic three over time thriller, and in 1993 when Michael Jordan and Charles Barkley battled.

Basketball can teach valuable lessons and I have seen many of them in those 41 years:

• A team needs a leader, but a good leader needs a good team;
• People from various nations, cultures and races can work together if they have a common goal and a shared system;
• There will always be blowouts where you will be on the opposite end of a laugh; how you react to them is what determines success. (Cotton Fitzsimmons, a former coach of the Suns) used to say after a bad game, “Let’s just flush that one down the toilet and go on to the next one.”)
• And I hope I don’t sound too much like a Cubs fan, but patience and hope are great allies.

If any of you have some more basketball memories to share, please give me a call.  I would love to sit down for a cup of coffee with you to re-live them.

Have a great November and a Happy Thanksgiving.  We have much to be thankful for.

Sincerely,

David B. Goldstein

This weekend I got away from it all by attending the Scottsdale International Film Festival (recommend it highly). There was a Korean film that dealt with a poor North Korean man having to leave his family to work in China to afford and obtain medicine that was needed to save his wife’s life; a Bolivian film that told of the lives of modern day Andean Incan families who make their living by chopping salt blocks from a salt lake and transporting them by llamas over mountainous roads to remote villages where they bartered for needed food and clothing; a Lebanese film which shared the challenges of a split society dealing with repeated assassination of its leaders and rebuilding its cities and hope for a normal daily life; a French film dealing with mental illness; a US film with failed relationships and suicide; and an Icelandic film dealing with depression and inability to recognize one’s gifts.

It reminded me of a consult that I had with a couple that were so stressed by their financial issues that it was destroying their relationship and their ability to enjoy life. Not too long afterward, I received a call from one of them telling me that he now faced a potentially fatal medical challenge. But here is the rest of the story. He told me that once the medical challenge presented, all of the rest fell away as unimportant. That they would deal with the situation as best that might be and that in the meantime they were back together as a couple working and sharing together and that they had again opened their eyes to the beauty of the world around them.

I got to thinking less about the financial stresses in my life (like everyone else, assets and income are diminished and liabilities increased) and more about counting my blessings. I became aware again about how fortunate I am to have the things present in my life that I take for granted because they are present on a daily basis and about what challenges I do not have to face by the grace of our Creator and my step is lighter. This morning when I stepped outside to get the newspaper, not only did I throw out the financial section, I noticed how cool and bright was the morning and I took my coffee outside as I read only the hopeful things in my newspaper.  Wishing you all a happy month!

Sincerely,

Irving Hymson

Living each day by what matters most gives me peace of mind. It helps focus on where I am going and I become unaffected by other peoples’ agendas. By making each day valuable, it allows me to know contentment and that seems to be a hardier feeling to achieve than in the recent past.

We were asked to discover how we get off track”? Here is what I found to be true for me. The culprits were the daily demands on my life all of which seem immediate; the conflict between actual and desired values (do I spend my time and money where I want to); my priorities get out of order (less so when I have written goals and pay attention to them); people pleasing and of course, the ever popular, financial obligations.

To discover what matters most we were asked to write the three top highlights (most memorable/meaningful) in the past year and in the previous decade. We were asked to record what days/dates in our lifetime have brought “what matters most” to our mind: in the last 5 years and before. I found these exercises to most illuminating and somewhat surprising. We were asked to determine what about those highlights meant the most to us and to find the common denominators. They helped clarify what I really think matters most. I am resolved to return to these exercises at least once a year.

Finally we were asked to determine what steps we could take to re-allocate more time, energy and effort to that which means the most to us. Now that was the hard part but the most rewarding in the end.

I hope that you will take some private time to do these exercises and to invite others who are meaningful in your life to do so. I found that they went a long way to bringing me peace of mind. As you know, at my firm, “Our Business is Your Peace of Mind®” and I hope these ideas will help you in that direction.

Sincerely,

Irving Hymson

Gompers Habilitation Center empowers and advocates for adults and children with disabilities.  One jewel of its programs is its vocational department where eager minds and happy hearts keep busy.  Gideon Goldstein, the son of one of our partners, is one of those “happy hearts.”  He works a few days a week at Gompers’ Vocational Department where he makes, in his words, “Big Money.”

Express Digital works with Gompers to help companies digitally capture paper.  It created an independent office environment within Gompers’ Vocational Department to scan mountains of paper and transform them into digital files on CD-ROM.  Gompers’ clients use basic keyboarding skills to input information and create files, while others learn how to operate high-speed scanners and review scanning data for errors.  Express Digital supervises Gompers copying and scanning center to ensure timely, accurate results.  Gompers’ partnership with Express Digital offered the perfect solution to our firm’s challenge.  Its advantages:

Enhanced confidentiality—Gompers’ clients focus on the job, not its contents;

• Price – was right;
• Turn around time was more than satisfactory;
• Nothing beats the feeling of serving our community.

If you need more information we, Express Digital, and Gompers are happy to share it.  Feel free to contact me at our firm at 480-991-9077; Fred Siegel at Gompers at 623-215-0845; or John Longobardo at Express Digital at 602-569-8600.  You will have the peace of mind of knowing that your job will be done right and your paper will be organized for efficiency.  After all, our business is your peace of mind.

Sincerely,

Eddie Pantiliat

As with any economic decline, new opportunities arise and new means to address problems develop. As someone put it, “A recession is a terrible thing to waste.”  But these new opportunities and means create traps for the unwary.[1] We assist you in finding opportunities and in avoiding traps by evaluating your overall financial situation, explaining the law as it applies to your situation and developing a workable and affordable plan tailored for you.

We can assist with loan modifications and restructuring, anti-deficiency analysis, short sales and bankruptcy considerations.[2] The residential real estate market is constantly changing and our firm strives to be informed and current. [3] Here are our recent observations:

Government Loan Refinancing and Modification. The Making Home Affordable plan has two components: modification and refinancing for owner-occupied property.

Qualification for the refinancing component is difficult for the typical person who wants to participate in the program because of the large decline in home values.  After a recent change a homeowner whose mortgage balance is more than 125 percent of the current value of the home will not qualify.  The homeowner also must have sufficient income to support the new loan payment and be current on mortgage payments.

Loan modifications are a better option if available.  A borrower who has experienced significant income loss and whose mortgage payment is more than 31% of the borrower’s gross monthly income can obtain modification under the program, but modifications apply only to first mortgages. Any loan modification requires patience and perseverance.  Complete and accurate financial disclosure and statements of hardship are usually required.  Frustrations from delay, lack of continuity and repeated documentation submission are common.  We are there to help you overcome these obstacles while working with you to keep the modification process affordable.

This is only a basic explanation of Making Home Affordable options and other criteria restrict qualification.  You can receive detailed information and self-evaluation tools for eligibility at www.makinghomeaffordable.gov.

Lender Adjustments. Direct dealing with the lender to obtain adjustment of the loan can succeed.   The approach is important for borrowers who are not eligible for the government program, and especially if the property is collateral for more than one loan.  Lowering monthly payments by lengthening the loan term and reducing the interest rate are the most feasible alternatives together with a plan to address any past due payments.

Tenant Protection from Foreclosure. Recognizing that residential tenants are often vulnerable and unaware of pending foreclosures, a recently enacted Federal statute will protect many from immediate eviction.   The Protecting Tenants at Foreclosure Act of 2009 entitles tenants to remain in the property (single to four family dwellings) for 90 days from receiving notice of foreclosure before eviction proceedings can begin.  The borrower cannot be the tenant, the lease must result from an arm’s length transaction, and the rent must be approximately the fair market rent.   The loan must be a “federally related mortgage[4]“.

Conventional Loan Refinancing. Historically low interest rates make this a good time for homeowners to refinance their existing loans.  To qualify, borrowers must have sufficient equity in their home, satisfactory credit, and sufficient monthly income.

First-Time Homeowners and Those Moving Up. Tax incentives, record low home prices and low interest rates create “perfect storm” timing for first-time homeowners and those who wish to move up to a better home.  Stricter lending standards now require good credit, sufficient income and a down payment sufficient to create a loan to value ratio satisfactory for the lender.  For those who qualify this is an excellent opportunity and the silver lining in the storm.

Investment Buying. Record low prices also create prime buying opportunities for those with the financial wherewithal to hold onto the property and pay the carrying costs until better times come.

We are here to provide analysis, advice and support to you towards those better times.

Sincerely,

David B. Goldstein

[2] To the extent we advise you about bankruptcy we act as a debt relief agency.

[3] We will be discussing a recent amendment to the anti-deficiency statute in an upcoming letter.

[4] One from a lender where deposits are insured by a federal agency or insured, guaranteed or assisted in any way by the federal government or intended to be sold to Fannie Mae or a similar organization.

The estate planning process includes preparing wills, living trusts and the probate process.  Although it requires careful thought, preparing your estate plan ahead of time brings you peace of mind and spares your loved ones unnecessary expenses and anxiety after you’re gone.

The process of establishing an estate plan and bequeathing your possessions can be complicated. Fortunately, this month’s Item of Value explains the basic principles of estate planning. You will find several important steps to think about when choosing the estate plan that is right for you.

You’ll also find definitions of the most common estate planning terms as well as the three basic methods of owning property and how these affect the process of bequeathing your possessions to your beneficiaries.

Because there are many facets and fine points to consider, an estate planning attorney should always be consulted. Once you push past any reservations you have about estate planning and actually start the process, I know you’ll be glad you did!

Sincerely,
Irving Hymson

The medical staff was terrific!  They took x-rays, gave her medication and, eventually, after three hours or so; stitched up her wound.

I, of course, gave them my insurance card and thought everything was taken care of.  Three weeks later, we started receiving bills from the hospital and other providers, who we thought were all part of the hospital team.  The bills were for hundreds of dollars, despite our insurance paying for a majority of it.  Needless to say, I was surprised (not pleasantly) and frustrated.

Recently, our firm decided to renew our health insurance coverage for all of the employees.  These benefits get more expensive every year, and I fear that one day, it may not be affordable.  However, our employees are very important to us and in these economic uncertain times, the last thing we wanted to do was reduce their benefits.  I can only imagine how much that hospital treatment would have cost without our insurance – And, how much that would affect a family’s normal budget.

So, I don’t know what the plan is to “fix the system,” but, hopefully, it will be one where people will still be able to get the coverage they want, see the doctors of their choosing, and be able to afford it.  After all, we do live in the U.S.A.!

Very truly yours,

Eddie A. Pantiliat