1. Try not to move your car until the police arrive – it allows them to prepare a more precise investigative report.
2. Stay in your car until the police arrive – if you are injured, you may worsen your condition by moving.
3. If you are experiencing any injuries at all, let the police know.  Otherwise, they will report that you were not injured and this can be used against you later on.
4. Say very little, if anything, to the other driver.  You may be misunderstood or misinterpreted.
5. If you feel that you are injured, ask to be taken to the hospital via ambulance for an immediate examination.
6. If you do not feel comfortable taking an ambulance to the hospital, then you should immediately see your primary care provider or seek a referral.
7. Report the accident to your insurance company immediately, even though it is not your fault.  If you delay too long, they may refuse coverage.
8. Only discuss the issues involving your damaged vehicle with the other insurance company.  There is no need for them to know about your injuries and you probably have not been fully diagnosed as of yet.  If you discuss injuries with the insurance company, it is likely that the statement is being recorded.  Therefore, if you don’t list all of your injuries during the recorded interview, then any subsequent injuries may be deemed unrelated to the accident.
9. Try not to do anything to worsen your condition, like lifting weights, extraneous exercise, etc. until you have seen a doctor and been released from care.
10. Keep copies of all out-of-pocket receipts, such as prescriptions, etc.
11. Keep a record of any time missed from work.  If you are self-employed, record all missed meetings.

Lastly, if you are not a professional personal injury lawyer, you will be up against a trained insurance adjuster, whose goal is to save their insurance company as much money as possible.  You should also have a trained and experienced personal injury attorney working for you.

Very truly yours,

Eddie A. Pantiliat

When I first learned about the new Musical Instrument Museum in Phoenix, I was excited.  My excitement did not diminish when I first visited the museum a few weeks ago.  It is a new jewel on the Phoenix landscape, a one-of-a-kind facility with over 190,000 square feet of exhibits.

The second floor of the museum has special exhibits on the instruments of Europe, Africa and the Middle East, Asia, Latin America, North America and Oceania.  Not only are there examples of the actual musical instruments from each of the nations in those regions, but also flat-screen TV’s with videos that illustrate how they are played and wireless headsets that synchronize with the videos to let you hear how the instrument sounds.  The collection includes instruments from every country in the world including guitars from South Africa made of oil cans – they sound like Hawaiian Slack guitars, African rain towers, and Asian gongs.

The first floor contains an orientation gallery, and experience room where guests can touch, play and hear exotic instruments, a beautiful acoustically sound music theater, a store with some great DVD’s and CD’s and a Café and Coffee Shop.

The Museum is located at 4725 East Mayo Boulevard, Phoenix, Arizona 85050 near the intersection of Tatum and the 101 Freeway.  It’s a great way to spend a day cooling off from the summer heat and hearing great sounds.

At our firm, we provide legal services that are in harmony with your needs with a suite of disciplines so we can strike a responsive chord with our clients.  Call us to see if we can make music together.

All my best,

David B. Goldstein

P.S. For more information on the museum, take a look at its website at www.themim.org.

A close cousin of mine who grew up in California, moved to England, then to Israel and then to New York contacted a matchmaker (think Fiddler On The Roof) who found a woman who grew up in Rio De Janeiro and moved to New York.  The romantic saga will end (or should I say begin?) with a wedding in Rio this month.  So, we are going and using the opportunity to take a trip down the Amazon and also see Iguassu Falls, the largest waterfall in the world.  That will complete the big 3 falls for me, having seen Niagara (#3) and Victoria (#2).

So, dreams come true, albeit decades later.  The thing is, without dreams, our desires are stillborn. Time and tough times, cannot tarnish our dreams.  Keep dreaming.  Let the adventure begin!

Sincerely,

Irv Hymson

When walking the halls and past the offices of our attorneys, don’t be surprised if you momentarily think you are sitting at a café in Paris or a pub in London. That’s because at Hymson Goldstein & Pantiliat, it’s not uncommon to hear our attorneys conversing and working in English, Russian, Spanish, French and Hebrew.

Our attorneys come together from uniquely diverse backgrounds to provide you with a wealth of knowledge and experience other monocultural legal providers cannot offer. As the world becomes smaller and international opportunities grow, our attorneys are prepared to support your expansionary visions, help you navigate across borders and cultures, and succeed in your endeavors.

Not so different than the Phoenix Suns, Hymson Goldstein & Pantiliat has attracted teammates from all walks of life to ensure you get the best value for your dollar.  In addition to languages, our attorneys have experience in the international arena to give you the home-court advantage.  Taking a global view is critical to achieving results and providing you with optimal solutions.  We look forward to working with you in your language of comfort.

Sincerely,

David B. Goldstein

The following is a handy checklist of the types of matters on which the average person or family frequently consults a lawyer.  Think of it as a “semi-annual checkup”.

LEGAL PREVENTIVE MAINTENANCE FOR THE INDIVIDUAL/FAMILY

A.        WILLS AND TRUSTS

1. 1. TAX – if you have a taxable estate, there is a lot of money which you may give to Uncle Sam when you don’t have to.
   2. PROBATE – you can avoid the time and expense of probate by planning ahead.
   3. INTESTATE SUCCESSION – if you don’t have a will, the law will dictate where your money goes.  In multiple marriage families, this could prove to be a problem.
   4. SPECIFIC REQUESTS – who gets your great grandma’s candlesticks?  Your memorabilia collection?  The dog or cat?
   5. TRUSTEES – who is best suited to manage your money that you will leave to your minor heirs?  Is it the same person you want to care for them or should someone else be their guardian?  Are your heirs able to handle the money without advice from a trustee?  Will they be at age 30, 40 or 50?
   6. GUARDIANS – who is best suited to raise your children?  Is it the same person you leave to handle the money, or another person(s)?
   7. PERSONAL REPRESENTATIVES – who should handle the winding up of your affairs when you die?
   8. COMMON DISASTER – you may be able to avoid a double estate                                          situation.
   9. LIFE INSURANCE POLICY PAYEES – coordinate with your will and                                   financial plan.

B.        LIVING WILL – establish or disconnect life support?  You must direct in writing specifically as the law requires.

C.        DURABLE POWER OF ATTORNEY – if you are incapable, who will run your business affairs, write checks, deal with creditors, etc.?

D.        MEDICAL POWER OF ATTORNEY – who makes your medical decisions if you are not able to do so?  What if your children need medical care when you are out of town?

E.         OTHER POWER OF ATTORNEY – to close real estate deals, handle assets.

F.         REAL ESTATE

1. 1. HOME – protect your biggest asset, whether purchase or sale.
   2. TITLE POLICY – if title to your property was a bundle of sticks, which sticks are missing from the bundle that you are buying?  How do they hamper or devalue your interests?
   3. LEASING – leasing your property to best economic advantage and with the best posture if legal issues arise.
   4. WRAP LOANS / ASSUMPTIONS / SUBJECT TO – there is danger whenever you take on someone else’s loans and relationships!  Don’t be squeezed by parties without having any leverage.

G.        SMALL BUSINESS

1. 1. LIMITED LIABILITY – the name of the game.  Don’t bet all your assets on any venture.
   2. ALTER-EGO – dangers of form over substance.
   3. RECORD KEEPING – lack of same can cost you.
   4. TAX LIABILITY – be smart, take advantage of what the law allows.
   5. PARTNER AGREEMENTS – the time to make them is when the bloom is still on the rose.
   6. EMPLOYEE ISSUES – protect yourself from those who wish to set you up for a fall; non competes, confidentiality clauses:  when, and when not, to sign.
   7. TAX BENEFITS – it cannot be mentioned enough.  Know what can be used to your advantage.

H.        FAMILY MATTERS

1. 1. GIFT TO MINORS – don’t create taxable events, e.g. parents giving down payments.
   2. PRENUPTIAL AGREEMENT – for young and old alike.
   3. SEPARATION – asset- and people-planning.
   4. CHILD SUPPORT – there is no more important subject and time is always of the essence.

I.          PERSONAL INJURY – negotiate for yourself and lose money!  Don’t talk with the insurer until you talk with your lawyer!

J.         DEBT REFORMATION and BANKRUPTCY PLANNING

1. 1. HOMESTEAD – protection is available.
   2. NEGOTIATION – there is always room to save money with a comprehensive settlement.
   3. ASSET PLANNING – if times get bad.
   4. ANTI-DEFICIENCY – you may not have to pay for a shortfall on your mortgage if your home is sold from under you.
   5. GARNISHMENTS

K.        DEBT COLLECTION – lawyers’ demands get attention.

L.         GOVERNMENT BENEFITS – help through the maze.

M.       BUSINESS, INVESTMENT COUNSEL – obtain over 35 years of experience with a phone call.

N.        BUSINESS BUYING/SELLING – fraught with perils and issues.  Make informed choices.

Sincerely,

Hymson Goldstein & Pantiliat, P.C.

At Hymson Goldstein & Pantiliat, P.C. “Our Business is Your Peace of Mind.”   To give you the peace of mind that you will be notified if someone files a lawsuit against your corporation, limited partnership or limited liability company, Hymson Goldstein & Pantiliat, P.C. offers a registered agent service at no charge for its clients.

Having a reputable law firm as your company’s registered agent with experienced trial attorneys also ensures that you will not have to worry about a delay or be forced to shop around for a law firm to represent you in litigation.

For a reasonable fee, Hymson Goldstein & Pantiliat, P.C. can also prepare or review your company’s by-laws, operating agreement or partnership agreement to ensure that you are in compliance with Arizona law and protected in the event of an unforeseen occurrence like a divorce, death or bankruptcy of a business partner.

If you or anyone you know would like the peace of mind that we offer our clients, please contact me to discuss how we can help you.

Sincerely,

Irving Hymson

Luckily Officer Shaymus saw Farmley and quickly got out his squad car to try to talk him out of an irreversible decision.

“Why are you thinking of something so drastic?” he asked.

“My million dollar house had $1,200,000 in debt encumbering it,” he answered, “Now it’s only worth $750,000. The three rentals I bought in Maricopa produce $2,000 in rental income per month but are each $1,000 under water.  The banks want their money and want to foreclose.”

“You should consider bankruptcy, not bungee jumping without a bungee,” Officer Shaymus suggested.

“Oh, I consulted with Fill-ups and Associates, but their advice was far from encouraging, and they only specialize in bankruptcies for petroleum franchisees with liabilities arising from driving-while-impaired convictions,” he replied.

“What did they tell you?”  Shaymus inquired.

“Well, it’s just me and wife in our home and with the rental income and my recent lottery win, I can’t satisfy the means test.  I made more money in the last six months than the median income for an Arizona couple and I cannot file for Chapter 7 or a straight bankruptcy.

“I can’t file for Chapter 13, a wage-earner’s plan because I don’t have regular income and my credit card debt of $350,000 and secured debt of over $1,750,000 is too much.  So bankruptcy is not a real alternative for me.”

Officer Shaymus wrinkled his brow, and said,
“You’re in luck.  My brother-in-law Cramer Dun is a bankruptcy lawyer.  We were talking the other day about how the amendments that Congress passed in 2005 made it more difficult for people to qualify for relief under Chapter 7 or 13 if they have too much income and too much debt, if they’re too rich and too poor.  Then he reminded me of the joke about the man who complained to his minister of his poor financial condition.  The minister said, “Open the Bible to a random page and read what it said!”  Several months later his minister saw him on the street, whistling a happy tune, strolling along in a new suit.  ‘I’m curious,’ the minister said.  ‘Where in the Bible did you turn?’  ‘Chapter 11,’ he replied.  And that may be just the ticket for you.  So step off the edge and I’ll give you Cramer’s card!”

Choosing the best bankruptcy alternative demands a careful analysis of the candidate’s assets, liabilities, and income.  For most a Chapter 7 is the best, offering the quickest process and the least cost.  Many cannot qualify for Chapter 7 because they have too much income, an asset they want to keep, taxes they need to settle, or amounts due on their mortgage that they cannot pay within the time that their creditor would accept.  For them, especially if they have a regular income, Chapter 13 will buy time to pay the taxes, cure the home-loan arrearage, and save assets worth keeping like an heirloom from Grandma.

But Section 109 of the Bankruptcy Code limits who can qualify for Chapter 13 relief.  A potential debtor with more than $339,000 in unsecured debt, or more than $1,010,000 in secured debt secured by collateral like real estate or a car, cannot file a Chapter 13 petition.  For them, Chapter 11 may be the answer.

For many years, Chapter 11 was thought to be exclusively for big businesses like Chrysler or GM.  But recent changes to the Bankruptcy Code have made the standards for Chapter 11 relief for an individual more attainable.  Though individuals can file for Chapter 11 relief, it is more complicated and expensive than a Chapter 13.

It is not for the faint of heart or thin of wallet.  Achieving a confirmed Chapter 11 plan can cost up to $50,000 to 100,000 over the several months of preparing the disclosure statement and plan, and obtaining its confirmation. The minimum fee to start usually begins at $10,000.  But for some that is a small price to pay to avoid jumping off the Mill Avenue Bridge.

The laws governing whether someone can qualify for bankruptcy and if so, what type of bankruptcy is best are complex.  All of the relevant facts and factors must be taken into account.  Good legal advice and common sense are essential.  But with the right choice and the right advice, the fresh start promised by the law and guaranteed by the United States Constitution can become a reality.

David B. Goldstein

I want to share with you a few examples of recent referrals that I received that certainly did not fit the so called “mold” of new business generations.

First, I received a call from a gentleman whose name sounded vaguely familiar but I couldn’t quite remember.  He said that he was a person that had a litigation against one of my clients.  Essentially, he was my client’s adversary.  The case was approximately six years ago!  He needed representation on a new legal matter and wanted to meet to discuss the possibility of retaining my services.

The second instance was a referral, who I had utilized to do business on my behalf.  Essentially, I was his customer.  There is much to learn, I believe, from these two examples.

First, you never know who is “watching.”  Therefore, always conduct business ethically and with respect towards others, even if they are not on your side, i.e., treat others as you would like to be treated.

Second, don’t be afraid to ask for referrals from the people you are actually doing business with, i.e., your accountant, insurance agent, pool person, gardener, etc.  If you are a good customer, they are likely to refer you.

The bottom line is, in one way or another, we are always marketing.  So, remember “Always Be Marketing.”

Very truly yours,

Eddie A. Pantiliat

If we can assist you or your group, please contact Danielle Wiggins, 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

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.