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nism enables one to pass a gift of cash, stock, or even real property without taking any substantial legal action. The cost is minimal and is far less expensive and time consuming than litigation. Business owners are often so busy keeping several balls in the air that they haven’t the time to consider corporate formation, and operate as Sole Proprietors by default. Protecting business and personal assets is also surprisingly inexpensive, and the benefits are many. Small businesses can incorporate under Subchapter S of the Internal Revenue Code or organize as a Limited Liability Company, which limits the business owner’s liability – in the case of an unexpected loss, like a law suit for a fall on the business premises – to only those assets owned by the company. Tax compliance is also cheaper and easier. Personal matters may be more touchy but also present substantial issues if not formalized in some way. Peace of mind truly isn’t that expensive or complex. And even if it seems awkward, complicated, or unnecessary to formalize your business and personal matters, it’s a lot easier to plan in advance than to unravel issues later

D av i d M . Lopez

Daniel B. D i et z e l

C at h ry n L . Wa l l ac e

William J. Perkins

Call us for a consultation for all of your Personal Injury, Estate Planning, Probate, Family Law, and Real Estate needs.

575.538.2925 fax: 575.388.9228

L D P L aw F i r m . c om Email: David@LDPLawFirm.com

Our office is conveniently located at 1311 North Grant Street next to the Penny Park in Silver City, New Mexico

Chavez Construction The Standard of Excellence in Home Building in Silver City & Grant County.

New Construction • Additions • Remodels • Roofing • Insulation

opposite: Cathryn Wallace, a private practice attorney with Lopez, Dietzel & Perkins, P.C, shares thoughts on estate planning and sole proprietorship.

Lopez, Dietzel & Perkins, P.C. 1311 N. Grant Street Silver City, NM 88061 (575) 538-2925 www.LDPLawFirm.com

Unsurpassed Quality • Uncompromising Craftsmanship • Environmentally Sound • True Energy Efficiency

575.388.1886

• www.ChavezConstruction.com contactus@ChavezConstruction.com 1702 North Corbin Street • P.O. Box 5163 • Silver City, NM 88062

SILVER CITYLIFE – 17

Silver City Life Summer/Fall 2011  

Silver City Life is a fabulous publication featuring the best of what Silver City New Mexico has to offer in the way of unique people, busin...

Silver City Life Summer/Fall 2011  

Silver City Life is a fabulous publication featuring the best of what Silver City New Mexico has to offer in the way of unique people, busin...

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