01 August

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Estate Planning with LLCs: Protecting Your Business and Your Legacy

By Colton Powell, The Law Office of Libby Banks In our office, Libby and I see a growing number of clients with LLCs who own businesses or have rental properties to protect. Some clients come into an estate planning consultation thinking their estate plan is a totally separate matter from their LLC, but that couldn’t be further from the truth! Liability and litigation lurk around every corner, so the legal protections provided by an LLC are crucial. The next step that many people overlook is making sure that their LLC interest avoids probate upon their passing. LLCs are just another piece of...

24 July

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Honoring Allyson Shepston Bibler

Posted by Libby Banks

in Libby Banks

Honoring Allyson Shepston Bibler Attorney, Wife, Mother, Friend It is with great sadness that we share the passing of Allyson Shepston Bibler, beloved friend and attorney. Allyson was not only an outstanding attorney but also a dear friend and a valued member of our community. Her care, passion, and dedication touched the lives of many. Allyson passed away on July 9, 2025, with her two children and husband by her side. A proud Sun Devil, she graduated from Arizona State University in 1997 with a Bachelor of Arts in Secondary Education with an emphasis in English. She later graduated with a Juris Doctor...

01 June

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Duties of the Trustees of Your Revocable Trust

Posted by Libby Banks

in Protective Trusts, Wills & Trusts

By Libby Banks, The Law Office of Libby Banks, PLLC Clients often ask how they can prevent loved ones from being the victims of fraud and abuse. For an answer, I turned to Kent Berk, with Berk Law Group, P.C. in Scottsdale, Arizona. For most of our clients, their estate plan centers on the Revocable Living Trust. When establishing your Trust, one of the most important decisions is who will be your successor Trustee. During your lifetime and while you have mental capacity, you serve as the Trustee. If you are incapacitated, or upon your death, your Trust appoints a successor trustee...

15 May

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Protecting Ourselves and Loved Ones from Financial Abuse

Posted by Libby Banks

in Estate Planning, Protective Trusts

By Libby Banks, The Law Office of Libby Banks, PLLC Clients often ask how they can prevent loved ones from being the victims of fraud and abuse. For an answer, I turned to Kent Berk, with Berk Law Group, P.C. in Scottsdale, Arizona. Kent’s firm assists clients who have suffered financial or physical abuse by pursuing claims for financial exploitation, physical abuse and/or neglect, or establishing guardianship and conservatorship. Learn more about Berk Law Group here: https://berklawgroup.com/ Here is my Q & A with Kent: Libby: Kent, scams often target seniors. They receive a call that their grandson needs money, or engage online with...

08 May

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Keep Your Trust Current to Avoid Probate

Posted by Libby Banks

in Avoid Probate

By Libby Banks, The Law Office of Libby Banks, PLLC Most of our clients who have created a revocable living trust with us do so to avoid probate. Probate is the court proceeding filed in order to appoint an executor – called a personal representative in Arizona – to be able to access a deceased person’s bank accounts and assets and settle their estate. It’s expensive, time-consuming for your heirs, and a public proceeding – anyone can go look at what’s been filed in the probate court. Not only does it expose your affairs to anyone who cares to look, it allows...

01 May

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Do You Need To Plan Now for Trustee Succession?

Posted by Libby Banks

in Wills & Trusts

By Libby Banks, The Law Office of Libby Banks, PLLC For many clients who have trusts, a big concern is the smooth transition to a successor trustee. There are ways to ease that transition. Consider Carefully What a Successor Needs to Take Over as Your Trustee A successor trustee may need to step in during your lifetime, should you become incapacitated. One way to streamline the process is to simplify how your successor trustee can start assisting you. Requiring just one physician’s opinion that you are incapacitated will mean a quicker transition than requiring multiple physicians or more elaborate proof that you cannot...

22 January

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From Litigation to Legacy: Attorney Libby Banks on Estate Planning Essentials

Posted by Libby Banks

in Estate Planning

https://youtu.be/rBm2aD6xPRQ?si=t57pTPztdRr1UDOb In this episode of Estate Planning Nightmares and How to Avoid Them, host Jon Braddock welcomes Attorney Libby Banks, owner of The Law Office of Libby Banks. Libby shares her transition from high-stakes litigation to becoming a dedicated advocate for personalized estate planning. Together, they explore crucial topics such as: The emotional and financial impact of contested probate cases The must-have components of a strong estate plan Key differences between wills and trusts—and when to use each Creating tailored estate plans for individuals without close family ties Common estate planning myths and actionable advice for all stages of life Join this...

15 January

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Estate Planning is a Gift of Love to Your Family

Posted by Libby Banks

in Estate Planning

By Libby Banks, The Law Office of Libby Banks, PLLC With the arrival of Valentine’s Day, our thoughts turn to love, and we start looking for ways to show our family and those dear to us just how much we care. It could be roses, chocolates, jewelry, or a special item they’ve always wanted. One way to show you care is to get a Will or Trust in place. This is a gift that will be there when you are no longer around. It can help ease the stress and grief by making the management of your estate smoother and avoid uncertainty,...

11 December

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The New Year Brings Changes in Estate Planning

Posted by Libby Banks

in News & Events

By Libby Banks, The Law Office of Libby Banks, PLLC A new year is upon us and with it changes in the law. Here are a few changes you may need to know about. The Corporate Transparency Act Requiring Business Entities (including LLCs to File the Beneficial Ownership Information Report: The CTA required most LLCs and other small business entities to register and report beneficial owners by the end of 2024. In December, however, the U.S. District Court for the Eastern District of Texas granted a nationwide injunction and stayed compliance, stating that businesses need not register until further order of the...

25 November

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Avoid Penalties on Your LLC, Corporation or Other Business Entity

Posted by Libby Banks

in Asset Protection

Gavel and calculator on a wooden background

by Libby Banks, The Law Office of Libby Banks, PLLC We want to alert you to a new law requiring you to provide information about “beneficial owners” of your LLC, corporation or partnership. You must report the beneficial owners of your business in a Beneficial Ownership Information (BOI) report on-line at: https://www.fincen.gov/boi. More on how to file below. When do you have to file? A business existing before January 1, 2024, has until January 1, 2025 to file the report. An entity formed in 2024 has 90 days to file. Updated reports are required within 30 days when certain of your information...

Author: Libby Banks