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Leaha Crawford and Rhonda Nolen are business consultants that discuss the current struggles of small business owners and entrepreneurs. Each episode covers steps necessary for smaller businesses and business owners to grow and prosper.
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You're listening to locally produced programming created in KU NBC Studios on public radio K, u and v. 91.5. The following is a paid program sponsored by Crawford management group and smart time consultants. Please be advised that the voices and opinions you hear did not represent the views of 91.5 Jazz anymore. The University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education.
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Hi, my name is Leah Crawford.
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And I'm Rhonda Nolan.
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And you're listening to the let's talk with Leah and Rhonda show
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for all the beautiful entrepreneurs out there. This is for you. Good morning. Las Vegas. Leah. How are you doing on this brisk Saturday morning? Hey
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us the holidays. It is holiday time. Are you treasom Yet you Yes, they are. I have for this year. Oh, don't don't judge me. Don't do it. I know. You already did. I know it's okay. It's okay. But you are judged sometimes to get you to pass. That's our everyday job. I'm gonna pass but no four trees we're ready to rock and roll. I got my Howard University Tree Of course I got my aka tree. And then I got the treat it says welcome in everybody in the house. Don't Don't judge me. Don't judge me and the four of trees just a little teeny tree. Because before this I celebrated Christmas. My kids had a little team look here that's best to treat weed that we enjoy. But now we've expanded we've grown houses decorated I am in a good mood. That's amazing mood. How about you?
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Nothing yet? I know trees up not yet. I'm not in the Spirit just quite. So well. Do
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we need to go caroling? We need to go Carolee go drive around and look at some lights or something. I mean, you gotta get in the spirit. Man. This is that holiday season trying I'm trying Family Fun football.
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It's just so much.
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Okay, got it. That's what everybody but today, we have a very some very special guest. But we'll start with the first one. So I've known this I just I met this woman probably less than a year ago. But we have so many we knew so many of the same people. You want to know who one of our best ones is bth. Oh, is that Renee then judge O'Neil in North Las Vegas is one of her closest friend
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Howard Bisons
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over there in North Las Vegas. You know they want us to start from the bottom now we're here now.
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Three is be the
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ASPCA. So today we have attorney Shakhtar Holt here with us. Good morning.
Unknown Speaker 2:44
Good morning. Thank you for having me. Nice
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to finally meet you because I saw your name on signs last year and all over the place. But I never had an opportunity to meet you so nice to meet you. A weird
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name for me.
Unknown Speaker 2:56
Not only let me say this, though, but you know how sometimes people had these perceptions about attorneys, right? I put all their perceptions away, because first of all, when she pulled up into G, right, and she rolling on all fours and you know, then she got the you know, the you know, she got the TAM or to decide, you know what the Bucha? You like art? Is that the attorney? That's representing me? Yeah, because she knows her stuff. So we're going to talk today about trusts, wills estates. And the importance your Yes, of having your documents in order. So
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all need that even our small business owners, but everybody needs all of those documents. Yes.
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How about when you turn? I'm calling for the children. Okay, good, good, good. Well, for the kids, you know, what, if something happened to you, we need to have that stuff in a will
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or trust because you don't want your kids to have it either way. Right, right. That works, too. Alright, so
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what is the positive side of having a will? So
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let's talk about two different things. So estate planning testamentary instruments, as we call them. One is a wheel and one is a trust. And of course, we know that the positive thing about having a will is that you can distribute your assets to your family and not leave it up to the court system to do it. Okay. Okay. So if you have a whale, the whale has to go through probate. That's the court system to make the determination of who gets what via your will. And it also makes sure that your probate make ensures that your creditors are going to get paid out of your estate also, right. But if you don't have a will, then all of your asset, all of your assets pass through what we call interested secession. And that is a a formula a rubric, a chart of how the state decides how your things will be distributed amongst your young ones, your loved ones when you die, okay, it's a whole list. I won't go through it. But yeah, if you have a Will you You'd make that determination first. If you have a trust, that's even better. Okay, here's the problem with the will the will is you still got to drag your family through probate. Okay, that nasty system through the court that could take years just depended upon how many of y'all want to fight over when grandma's dresser, right? But when it comes to a trust, typically if you do it right, the assets that you include in the trust, don't have to go through probate, you can skip that whole ugly step. And what happens is with the trust while you're living, you decide who the next who the trustee over all your things will be in your trustee, of course, is a person who has a fiduciary duty to divvy out all your stuff the way you say you want it done in your trust. So I kind of look at it as like making moves from the grave. Okay, that's not actually accurate, but it sells the trust. For me. You can put, there's various types of stipulations and terms that you can put in the trust, to determine how you want your stuff to go. You want your kids to get all their stuff when they're 18 and blow it and that's fine. But if you want to put language in there that says that Johnny can't get this $50,000 until he finishes college, you can do things like that, too. So it makes it much more attractive in that way. Also, if you're a person who's kind of wondering if your family will squander off all of everything that you weren't for your entire life, so And there's other benefits, too, but I think those are the most attractive features of the trust. So I look at it like a will is necessary. Trust is better. Okay. What was necessary? Trust is better? Yes.
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So you mentioned something earlier, you said your estate has to pay off all his debts? Yes. So just for example, so if my grandmother left credit card debt open, and she left us a house, so we would either have to pay off her credit card debt ourselves, or we will sell the house to pay off our credit card debt.
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Is that how that works? Very true. So what happens is when you when a probate case is filed for the deceased, you have to notify her creditors, okay, you have to be diligent and diligent about figuring out who grandma's creditors are, and you have to list them and they have to receive notice of the probate action, they then have the right to file a claim or creditors claim against grandma's estate, then you duke it out in probate, and that's what makes it ugly. Okay,
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so what if grandma's house is in a trust? Okay, that's different.
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A little different. I mean, in the trust, you still want to account for what happens to the creditors, okay, the best thing for you to do so nothing gets hung up in litigation is account for this particular bank account will be exhausted for these creditors, so on and so forth. But yeah, if you go through probate, then whatever the estate is, the estate is all of her stuff, her house, her, her cars, her jewelry, whatever she left behind. So so
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that's why a lot of people say probate takes a long because they give creditors a chance to absolutely they give creditors a chance to stake claim so that they don't lose the money. Right? Because the money was used it was they just want to make sure that everybody's satisfied before they distribute. Absolutely. The funds from the estates. Yes. How can someone contact you 702-674-6775
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or you can reach us at www bankruptcy lawyer l v.com. That I do bankruptcy to okay,
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it's okay. So let's talk about that, though. Because the bankruptcy property right now is huge. Yes. It's huge. Why would someone want to file bankruptcy?
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Well, a couple of different reasons. Okay. I guess the most popular reason is people just can't afford their debt. Especially when we talk about unsecured debt. Okay. We live in a country that thrives off of credit card debt. Yeah. Yeah, that's because we all have to pretend that we're rich and we're not. So we do that. Or people become unemployed and live off credit cards and then have an immense amount of debt. People, unfortunately, have medical and health issues that lead them to an enormous amount of medical debt. The other thing that happens is people get divorced, divorce and bankruptcy, unfortunately, often go hand in hand. Wow. Okay. Because if you think about it, a huge portion of your income is leaving from being right either way in the community. Right, right. But that doesn't mean your debt is leaving. So that's a whole I could stand on a pedestal for that for hours, but I won't. So those are reasons why that lead people to file bankruptcy. The other thing is a lot of times that a lot of people will want to file what we call chapter 13 bankruptcy. If They are delinquent in a house. Okay? Because there are ways that you can save your house if it is in foreclosure to through chapter 13 bankruptcy, we got to have a couple other little tricks to save your house too. But typically, that's why a lot of my clients anyway filed chapter 13 Bankruptcy unless they don't qualify for a chapter seven bankruptcy, which means they make too much money for it. But essentially, those are the reasons why people file bankruptcy
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isn't one bankruptcy to get rid of that and others to reorganize? See, I
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told you, but that's when people go that's tick tock Esquire. Right. So talk us for a
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Google Esquire let's fight tick tock, Esquire and Google Esquire more than my colleague Instagram, so, right, because people bring these attorneys in my office all the time, Google and Tiktok. So here's the truth. Okay. Both by all all chapters of bankruptcy essentially, is a way to get rid of debt. Okay. The question is how much okay, because in a chapter seven bankruptcy, you could potentially get rid of all of your unsecured debt. But in a Chapter 13 Bankruptcy doesn't we call more like reorganize. But oftentimes in chapter 13 bankruptcy, a lot of creditors end up getting nothing, because they you get in bits and pieces of payments every month, they're gonna go to the what we call priority creditors, which is the IRS which is Chase mortgage, which is your your car, your whoever you're financing your car through. So that means like little Oh, Visa might not get anything, which means basically, you got rid of that
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debt. But visa charge too much interest anyway, I met I mean, I'm not mad.
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Let's talk about American Express. Oh, just saying.
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Okay, all right. I mean, I had to take all that in because the reality of it is people do live off credit cards. People do live off credit. Sometimes you get, I mean, because they might give you I mean, your credit score score is good. You earn some money. And you're living this lifestyle, right? About a crash. No, not at all. It's not gonna crash. Oh, I might get fired. I might get divorced life might check
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out those are crashes. Yeah, don't necessarily mean the economy of the country. But you have crashes in our life all the time. When you think about it. You know what I mean? A divorce is a crash. losing a job, like you just said getting laid off. That is a crash. Kids trying to go to college and messing up and ruin your life. to crash? Yes.
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I think they every year, we're going what's what's the new crash tradition?
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Yeah, be prepared for you have to be prepared in bankruptcy. Unfortunately, a lot of times we don't prepare for certain things because we get comfortable in the life that we know we've worked for. And we deserve. And then Oh,
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got it. And this bankruptcy. So what happens after bankruptcy? So you filed a bankruptcy? Are you able then to purchase a home after
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that? So typically, people are able to purchase a home two years after bankruptcy, it'd be perfectly honest, when you're already at the point of bankruptcy, you probably wouldn't go and get a home for two years anyway. You know, so it's a good tool to reorganize yourself, set yourself back up, essentially start your credit life over, get rid of all that old stuff, start to new and then maybe get a much better interest rate on your house anyway.
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But does it stop you from getting like business loans and different things like that? Yes,
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it does. It can.
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Uh, but however, it probably just takes a little bit longer for you to be able to be prepared to get the loan. Okay. And if you do what you're supposed to do in those two years, all the things that I tell you to do in my consultation to reestablish your credit, it could be a lot better.
Unknown Speaker 13:55
So the bankruptcy itself stays on your credit for 10 years. The word
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bankruptcy stays on your credit for 10 years. That's what I thought. Yeah. It doesn't mean what it used to, though, because you would be shocked how much of the general population files bankruptcy.
Unknown Speaker 14:10
Right, got it. Understood. Understood. Well, if bankruptcy trusts wills Holt Law Group 702-674-6775 Again, 702-674-6775. Okay, counsel, we got another guest in the studio that you do, and I can't
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wait to hear. I can't wait. Do we have
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a very special guest who flew all the way in from Ohio to speak with us today? We have Mr. Corwin Anthony, from athletes and action. Hello, Mr. Anthony, welcome to the show. Thank you. Glad to be here with your fantastic How cold is it in Ohio? I
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think it was 19 degrees when I left so I might not be going back anytime soon.
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I fully understand that. Tell us a little bit about your nonprofit And
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Sir athletes in action in the Sports Ministry, we've been around since 1969. Supplying staff that sort of all over the world actually we have staff in 70 countries, working on about 225 college campuses here in the States, and in about 61 professional teams through the NFL, NBA, Major League Baseball and Major League Soccer. So we do a lot of work with the athletes and coaches, helping them grow to be total athletes. We believe that people are three dimensional, physical, mental and spiritual. And so we provide services and support in all three dimensions for the athletes that we serve and work with.
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So what brings you to Las Vegas what big event is happening soon that you are involved with y'all
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got a little game coming up? Next year,
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just a little game?
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That magnificent stadium y'all have My goodness? I love bang. I don't know how they are not like 25 accidents every single day on that freeway driving. Score. I couldn't keep my eyes off of absolutely gorgeous,
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gorgeous buildings along that. Yeah. It's Yes. A lot of gorgeous buildings along
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this row. It is that stadium is eye catching for sure. So our organization we put on what's called the Super Bowl breakfast every year. Okay, so we follow the game from city to city. And breakfast is one of five NFL sanctioned events that takes place every year. There's 1000 events that happen. And we all know that only five are sanctioned by the NFL. That just means we're allowed to use the logo. And the NFL assigns us a venue for our event and so we're they've assigned us to Caesar's Palace. So the breakfast will be hill at eight o'clock. Caesars Palace on Saturday morning, February 10. Right before the game. And the centerpiece of our breakfast is the Bart Starr award. Okay, if your your listeners don't know who Bart is, he was the MVP quarterback for the Packers for Super Bowl one and two. Wow, wow, okay, boy, yeah, he goes way back. And he and his wife cherry used to come to the event before he passed away. They used to come every single year and present that award because it goes to a current NFL player who has demonstrated character, leadership and integrity in his home first, then on the field, and then in the community. And so it's a very special award that allowed the players covered because it's actually voted on by their peers. And about two, two and a half weeks, all of the NFL players are going to get a ballot for the bar star award. And they will select their top three nominees or finalist for that award. And so we'll decide on the winner from those top three nominees. So who won last year last year Kirk Cousins won the award that year before that Russell Wilson one of the right so your listeners can go to Super Bowl breakfast.com and see all of the winners for the past 37 years. It goes all the way back to Steve Largent. Then Anthony Munoz, I know I'm dating myself, and Mike Singletary was the third recipient of the bar star award. And the reason I mention him is because he's going to come back and be a part of the civil breakfast this year in Vegas. So
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if there's somebody else that we'd like to play, as part of this, yeah,
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you got a lot of people who play football, we are referring to the coach or the player.
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He was a former player. And I don't know if he was a coach, but we still like him.
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dropping hints like somebody's supposed to read her mind.
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Fabulous Tony Dungy will
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never guessed that I was going. I was Roger Morse.
Unknown Speaker 18:56
Yeah, you threw me off with that when Tony is a dear friend of our organization, and he comes to the breakfast every year, and beat when bark became ill. Tony has been the one stepping in his place to give that bar Star Awards. For the past six or seven years, Tony has been the one presenting that award to a current player. And so we love having him back. We'll be back again this year.
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And so why we like athletes in action is because they came to town and said, We want to be in the community. And we want the community kids to be part of this organization. So the organization is allowing kids from all over Las Vegas to come to this particular breakfast. And they have been sponsored, you know, by different companies. But we're very excited about that, because the kids will be able to come to the breakfast, they will see and meet the winner of the Brightstar award. And then there's a special VIP reception for the kids to meet a lot of football players and to get their ball signed and have conversations with them and photos. So we're very happy that you included our children in this event, especially our black and brown children because they never give up portunity participate in anything like this.
Unknown Speaker 20:03
Yeah, if your listeners go to the website, they'll see the sponsor deck on, there's a link there. And and on the page 13, near the end of that deck, you'll see the Community Action sponsor level. And that's for corporations who want to cover the cost of sending 10 Kids and two chaperones to the breakfast. And there's a limited number of kids that we're saving this for. And then afterwards, like you said, we will have a private reception for them, they'll get a swag bag, Tony Dungy has already agreed to go over and spend some time encouraging the kids as well, middle school, high school age is kind of what we're targeting. But yeah, all the kids have been identified. We're just looking for sponsors to help cover the cost of getting them there. Now.
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We're very excited about that. And you to Las Vegas listeners, if you don't have the $5,000 to fork over a ticket to the actual game, you should probably try to make your way to the breakfast. They do have tickets and tables on sale for the breakfast. And you can find them at
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Super Bowl breakfast.com. has all the information there.
Unknown Speaker 21:08
Fantastic. Fantastic. I love it. Love it. Love it. So will you be participating in the Super Bowl chapter? Will you be doing anything on any events? What's happening?
Unknown Speaker 21:19
I don't know yet. I got a couple text messages trying to figure out what I want to do. Okay. I'm just really trying to figure out I always try to kill two birds with one stone because I'm so busy. I wish one makes it look like I'm doing volunteer work at the same time as watching the Superbowl as soon as I figured out our response, but no, I don't know. I actually wanted to go this year. Okay, but yeah, I don't know if that panned out.
Unknown Speaker 21:46
Okay. There's still time, there's still time. There are some of the local nonprofits who have tickets for sale, where your tickets end up being a donation so you can kind of write some of that off.
Unknown Speaker 21:58
to sponsor our breakfast. That's the highest level it comes with two Super Bowl tickets. Look
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at that. Only what $5,000 Oh, no, no,
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I promise you.
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That number is a little lighter. I
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know that. I was like 7000 I was like that's a deal. That's rough. That was a steal. I was gonna write you a check. Yeah.
Unknown Speaker 22:26
Well, welcome to Las Vegas, Las Vegas. We hope you all stay around. I mean, even though I
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fall in love with the people here. Yeah, I have. I'm actually thinking about snow birding here out of Ohio.
Unknown Speaker 22:39
What is going on? Because now do you work remotely? Or is there like a corporate office?
Unknown Speaker 22:42
Yeah, our offices in Xenia, Ohio, just outside of Dayton. And so all of my every year, I'm traveling every month, sometimes twice a month to the Super Bowl city. And so it just makes sense for this one to possibly move here for six weeks, getting ready for the game. And then after that, possibly living here
Unknown Speaker 23:03
in Las Vegas, because the because, you know, our population has grown. It has tremendously, tremendously. Things have changed, and we're turning to we're not we're not a little city anymore. Right. Now, we're a big city. We are a big city in the world. Working on it right.
Unknown Speaker 23:23
Now we are spoiled to Yeah, we are very,
Unknown Speaker 23:25
very much so as residents as residents, but shouted just one more thing I did have to ask you, because how important is it for someone to follow you through the whole process? Like if they're filing bankruptcy, just to follow your lead through the whole process and not just go rogue and say, Well, no, I quit in the middle of it. I don't want to do it anymore, or can they do that?
Unknown Speaker 23:45
I try to make it is Loctite as I can, it's where it's almost impossible. Okay, I try. But you know, you everybody, don't get me wrong. I'm not tying anybody up or anything like that. But I think my firm, we really do a good job at streamlining it where you do as less as possible. And that's not us just trying to control it. That's us making it easy for you. You know what I mean? Like, let us take care of this for you. Let us help you on your fresh start. And I promise you like It's like soon as people leave me out that consultation tears dry up because people know they have a plan. And I think at that point, they don't even want to do anything. They're like, Okay, you take care of it. You just wake me when this is over. And I can I can start my credit again. I can start my credit right? Yeah, nobody wants to Yeah, nobody wants to go through this. It's very hard is for because you know most people contrary to what a lot of people believe want to pay their bills and do it until they have a crash. And so, these things are very traumatic with for people. But you know, what people need to understand is they are so not alone. Like I said you would not believe who filed bankruptcy. You think you know, but you don't know. But that's just Solace is this is a human thing, okay, it's nothing to beat yourself up about and just know that there's help. Also be grateful that we live in this great country that allows bankruptcy and you know, we don't live where they'll throw you in like a debtors prison or something like that. So there's that, you know, that's a positive thing. To start over, absolutely.
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It's a real chance to start over
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right and start over and start over and start over as good. I don't care if you 2555 35 or 60. Start over, no matter what age no matter what age
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you hit that crash, and you don't see a way it's no, no need to sit there and wallow in it. Right? And just think, Oh, nothing can be done. Yeah.
Unknown Speaker 25:37
And people will wallow in it before, up until the time they get sued. It's like he couldn't come see me three months ago. I still have you were still good. I still got you. But two months ago, maybe would have been a little bit easier. Maybe I could have took more stress off. But here we are in mistakes it even if you're being garnished, especially if you're being garnished. That's one thing I forgot to say that's another reason for people file bankruptcy is to stop the garnishment it's not because they won't come get 25% Off the top of your check gross. Every time you get paid until you stop it
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until you stop. So that's a way to stop it. So strategies, right. So it's always good to have an attorney, especially an attorney that's going to work with you. Absolutely. Absolutely. Yeah, you're not just running through again. So shadows office is located in the beautiful downtown Las Vegas, I must say I love it. She's on the corner of Fremont Street in Maryland Parkway, Maryland Parkway, and she can be contacted at 702-674-6775 Again 702-674-6775. And just know you are not alone. And we are talking to you. You are listening to the station. Now you are not alone. You're not alone. A lot of people have issues. And she's here to help you work through those issues. I because I see the same thing when they come in with tax problems. And I'm like, Hey, we can solve this. We can we can solve it. But first we got to face it. Right? And let's see what it is.
Unknown Speaker 27:05
So
Unknown Speaker 27:06
you hand I'm the cleaner. I handed you I know what you are. That's funny. You say that because I have a box of Kleenex on my desk. Right? I have a box of Kleenex on my desk because when they start crying, and you I mean, you sit there because you watch this consistently over and over again. And it's not that you're numb to it is just okay. All right. Now we passed that part of the process. Let's get to work. And this is what we need to do. And let's get it done. Let's knock it out for sure. And then when they come back, and it's resolved, and it's like, oh, wow, I didn't know. All you have to do is face. Oh, you have to let's face it. Well, Rhonda, do you have anything anything coming up that our listeners need to know about? Well,
Unknown Speaker 27:44
parents do, you can start signing your children up for the youth economic empowerment club with the 100 black men in Las Vegas for their hands on banking program that will start next year. You can find more information on the website, www 100 Black men las vegas.org under the program's tab, other than that the next youth virtual cooking class is taking place on Friday, December 22. And you can sign your junior Chef up@eventbrite.com All right.
Unknown Speaker 28:18
All right. Well, that ends our show. I guess we got one more show before Christmas. So Merry Christmas. Merry Christmas. Happy holidays, everybody. I'll get in the spirit round to get in spirit. Okay, let's get the spirit until next week.
Unknown Speaker 28:29
Until next week, I'm gonna say Oh, thank you to our guests today. Oh, thank you. Thank you so much for joining us today on the show man really appreciate it. You have some fantastic information to share with the folks in Las Vegas. And don't forget Las Vegas you know where to go to find them. Well Until next week, Lea.
Unknown Speaker 28:47
Merry Christmas does not Merry Christmas Day. Have fun y'all Happy Holidays. Let's
Unknown Speaker 28:51
get in the spirit Peace and blessings and bye bye.
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Two
Transcribed by https://otter.ai