Michael Anthony Troncellito Jr.’s Answers

Michael Anthony Troncellito Jr.

Glendale Contracts / Agreements Lawyer.

Contributor Level 6
  1. If I take ownership of a business now (get back on grid), will old debt collectors suddenly notice & take their pound of flesh?

    Answered 10 months ago.

    1. Michael Anthony Troncellito Jr.
    2. Naval Hemendra Patel
    3. Brett D Weiss
    4. Michael T Warshaw
    4 lawyer answers

    If someone finds you, and they hold a debt, they will do what you would do if you found someone and held a debt. They will try to collect it. The issue you are dealing with is not easily rectified by simply looking o the statute of limitations. If you set up the business properly, you can insulate the assets and not have anyone touch your collectable assets. I would recommend obtaining counsel to review your debts, to discuss your proposed purchase of the company and how to structure the...

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  2. Does establishing an LLC for a residential rental property limit personal liability for owner if a tenant litigates?

    Answered 7 days ago.

    1. Michael Andrew Fleishman
    2. Mark A. Bross
    3. Michael Anthony Troncellito Jr.
    4. Brian Petersen
    5. Trent D. Woods
    6. ···
    6 lawyer answers

    OR...You can discuss a better way to protect this and all of your other assets through various LLC, partnerships, limited partnerships, and/or trust vehicles. It is called asset protection; and it differs from estate planning. Estate planning is "what happens" to your stuff when you die. Asset Protection is to ensure that no one can take your stuff while you live, for whatever reason. So, LLC structure is good, but talking with a business and/or asset protection lawyer might provide you...

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  3. As a Real Estate Investor do you have preexisting Sales contracts with general state legal clauses that one can be purchased?

    Answered 7 days ago.

    1. Michael Anthony Troncellito Jr.
    2. Anne Brady
    3. Dana Whitney Atchley
    3 lawyer answers

    Most attorneys can either review a contract you bring in or draft a contract for you. Certainly form contract outfits exist where one can obtain documents. However, the real issue is that most who do this have no idea what the functional effect of the words in those documents mean. That is why it is important to find a local real estate/business attorney who can assist you in terms of the language necessary for your contract but who can also teach you practical applications of the contract...

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  4. In which state is the contract valid when you buy and finance a car in another state?

    Answered 10 months ago.

    1. Steven Roger Rensch
    2. Michael Anthony Troncellito Jr.
    3. C. Andrew Campbell
    3 lawyer answers

    You should obtain a copy of the contract. There are traditionally "Choice of Law" provisions with language stating that any type of dispute regarding the contract will be governed by the substantive laws of state "X". There may be an issue as to whether or not Arizona "collection" or "repossession" law would apply, but that should be addressed in, or able to be discerned from, an attorney review of the contract language. Best wishes. Check with an attorney who you trust.

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  5. Can my employer force me to get a corporate credit card in my name?

    Answered 7 days ago.

    1. Michael Anthony Troncellito Jr.
    2. Guy W Bluff
    2 lawyer answers

    Whether or not they can require you to do such a thing likely has to do with the terms of your employment. These are traditionally found in employee handbooks or other employment contractual documents. I assume that a company with a corporate credit card program also has an employee handbook or the equivalent. You should gather a copy of these documents and see one of us here in town who handles contracts and/or employment situations. Let me low if you need counsel. It is my hope that this...

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  6. Small 3 employee corp in Phoenix, AZ & need some guidance revising our bylaws ect for VOSB verification. Do we need a lawyer?

    Answered 7 days ago.

    1. Michael Anthony Troncellito Jr.
    2. Dana Whitney Atchley
    2 lawyer answers

    In addition to wording things "correctly", there needs to be an understanding of the functionality of the words used and a lot of procedural "i" dotting and "t" crossing as it relates to other documents that will likely need to be submitted to the Arizona Corporation Commission in order to have the VOSB forms approved. Please check out my website, as well as websites of other business attorneys, and contact me if you would like to have legal counsel and/or assistance. If I am not the...

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  7. Disabled-in need of ALTC qual. My son has 22q11 chromosomal disorder (much like Downs) but he is higher functioning. IQ 77%

    Answered 4 months ago.

    1. Michael Anthony Troncellito Jr.
    2. Julia E. Simmons
    2 lawyer answers

    I too have a special needs son, and I completely understand your frustration and concern. You can google search for "special needs advocates" in Arizona. These people are paid a lot less than attorneys and specialize in advocating to DDD. I have not used one, but when my family experienced something similar, we contemplated it. There is also an attorney that my wife and I used for a similar issue related to our son. Should you wish to contact the special education lawyer, feel free to...

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  8. What is the best/simplest way to set up an LLC/LLC's for running multiple businesses both on and offline?

    Answered 22 days ago.

    1. Michael E Gerity
    2. Anne Brady
    3. Michael Anthony Troncellito Jr.
    4. Pearlette Vivian Toussant
    4 lawyer answers

    Mixing liabilities into the same LLC is not a wise idea. Example: If you make 80% of your income from one business venture, and it has very little liability exposure, and you made 20% of your income from another business activity/venture, and that activity/venture had a lot of liability exposure, a single LLC for BOTH activities would needlessly expose 80% of the earnings. Keeping the structures separate, from the get go, is only an expensive proposition if you are not working with an...

    2 lawyers agreed with this answer

  9. Should I file a police report if documents have been stolen from my file box?(like Wills and death certificates)

    Answered 12 days ago.

    1. Seth Gabriel Kagan
    2. Michael Anthony Troncellito Jr.
    3. Jay Scott Finnecy
    4. Tony Anthony
    4 lawyer answers

    Anytime something is stolen, a record should be made with the authorities; regardless of whether or not the items stolen were documents or your flat screen TV. It always makes "cleaning up the mess" a whole lot easier. Hope this is helpful.

    1 lawyer agreed with this answer

  10. If I was gifted a business and am now the sole owner can I sell the business if it is failing?

    Answered 12 days ago.

    1. Dana Whitney Atchley
    2. Michael Anthony Troncellito Jr.
    3. Shelley Ann Elder
    3 lawyer answers

    Assuming you own the business, you can sell what you own. As stated earlier, there may be some hidden liabilities (or some liabilities you are simply unaware of). These issues should be fully vetted with a legal professional experienced in small business and the transactions traditionally associated with the same. Also, the "gifting" issue concerns me as it relates to later claims of ownership by the person who gifted it. I would recommend speaking to the legal professional about making...

    1 lawyer agreed with this answer

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