Represented wealthy Phoenix couple with large lifetime gift to their child in trust. DeAngelis Legal worked with the clients, their investment advisors and CPA to design an irrevocable trust that met the client’s objectives and minimize estate taxes. They desired to remove the assets from their taxable estate, have a third party responsible for the [...]
Represented seller of dental practice in Phoenix, Arizona. DeAngelis Legal worked with client and accountant to structure the transaction including the sale of goodwill to mutually benefit buyer and seller and drafted the asset purchase agreement and ancillary documents to transfer the practice.
Represented long time Phoenix couple with the review, restructure and funding of various real estate holding companies. DeAngelis Legal worked with the client to identify his risk tolerance and created the plan to insulate the couple’s other assets from liability and increase the liability protection between properties. The plan used their existing entities to the [...]
Represented newly married Scottsdale spouse to design, draft and implement a comprehensive estate plan, which included the beneficial interests in several irrevocable trusts and other family assets. DeAngelis Legal worked with the client, the family’s bank and other advisors to create a plan that protected inherited assets and provided financial support to the new spouse [...]
Represented Scottsdale husband and wife with the review and update to the estate plan. DeAngelis Legal created the plan in 2007 and the clients desired to review their decisions. After reviewing the details of their plan they decided to make minor adjustments to the successor trustees. During the review DeAngelis Legal also provided alternatives for [...]
On August 8, 2018 the IRS issued regulations interpreting the new 20% deduction for qualified business income (QBI) created by the Tax Cuts and Jobs Act -- signed into law on December 22, 2017 (“TCJA”), also known as the 199A Pass Through Deduction. Here's a summary of the basic rules: What is the 199A pass through [...]
Estate Planning Update July, 2018 2018 Annual Gift Tax Exemption: increased to $15,000 (from $14,000) per donor, per donee. 2018 Gift and Estate Tax Exemption: $11,180,000 per donor through 2025, see below. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2018 Generation Skipping Tax Exemption: $11,180,000 per donor through 2025, see below. Top rate for [...]
Represented several different entrepreneurs with the formation of entities in the medical and construction industries. DeAngelis Legal assisted with the entity selection, structure and prepared the necessary formation documents for the entities which included a comprehensive shareholders agreement, bylaws and employment agreements for one entity and an operating agreement for the other.
Represented trustees with administration of a multi-million dollar trust. Trustees desired to protect beneficiaries and provide for continued management of the trust's assets. DeAngelis Legal worked with the trustees, beneficiaries and successor co-trustees, including adding a corporate trustee, to resolve the issues and document the transition and ongoing management plan. The plan included decanting the terms of [...]
Represented husband and wife with reorganization of their various real estate and construction entities. Couple had several entities, an operating company and properties held outside the structure. DeAngelis legal reviewed and updated the corporate structure to limit their liability exposure and address income tax compliance issues. We also prepared the deeds and governing instruments.