You have the power (maybe). Financial powers of attorney allow you (the principal) to appoint someone you trust (the agent) to perform certain acts related to your financial affairs on your behalf. These instruments have a variety of uses, but are often used in the estate planning industry in in conjunction with, or in lieu [...]
Because the values of a married couple’s estate and the amount of the estate tax exemption change over time, estate planners commonly use formulas in a will or trust to avoid inadvertently triggering an estate tax on the first spouse’s death. These formulas divide a deceased person's assets between a marital share which qualifies for [...]
Estate Planning Update January 2026 2026 Annual Gift Tax Exclusion: remains $19,000 per donor, per donee. 2026 Gift and Estate Tax Exemption: increased to $15,000,000 per person this year (an increase of $110,000 per individual or $220,000 for a married couple) and made permanent. See paragraph 6(a) below. Marital Deduction for Transfers to U.S. Spouse: [...]
Love was in the air this holiday season as we drafted, negotiated and signed three marital agreements, two for newlyweds and one for a couple in a long-term marriage. In each case DeAngelis Legal worked with the parties and their family law attorneys to resolve issues regarding jointly held property, spousal maintenance and death. Hopefully [...]
Ultra-high net worth client entered into negotiations to sell his business. The business’s attorneys handled the transaction documents, but DeAngelis Legal assisted the client to evaluate various transaction structures to reduce or defer income taxes on the transaction. After reviewing the alternatives, DeAngelis Legal created a new entity and other documents implementing the structure.
High net worth widow knew how she wanted her estate plan handled at death, but was not confident her estate planning attorney understood her desires and therefore had not updated her estate plan in years. After an in-depth review of her finances and objectives, DeAngelis Legal proposed a comprehensive estate plan which achieved her goals [...]
Recent empty nesters from Scottsdale desired to update their estate plan. DeAngelis Legal met with the couple and answered questions regarding their objectives and preferences. The couple preferred a simple plan designed to avoid probate upon incapacity or death and provide the structure for the outright distribution to their children. DeAngelis Legal drafted a basic [...]
Husband and wife created a standard survivor’s bypass trust, with half the assets passing to the family of each spouse. Upon the death of the husband, this structure necessitated the valuation and allocation of the assets between the two trusts. While the couple had plenty of liquidity, the sheer number of entities and accounts made [...]
Client and friends created a new restaurant concept and engaged DeAngelis Legal to form the entity. After reviewing the alternatives, DeAngelis Legal created a new LLC and a comprehensive operating agreement detailing capital contributions, management, ownership and dispute resolution provisions incorporating the parties compensation framework they had agreed upon. Kudos to the parties for resolving [...]
Holding Vacation Rental Homes in an LLC: Liability, Insurance, and Tax Considerations Owning a vacation rental home can be a rewarding investment, but it also comes with its own set of challenges, especially when it comes to liability, insurance, and tax implications. Unlike these little turtles who will grow their own protective shell, vacation rental [...]
