Beginning January 1, 2024, the US Corporate Transparency Act (CTA) will require corporations, limited liability companies, limited partnerships, trusts and other similar entities to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau within the US Department of the Treasury. The CTA aims to enhance financial transparency and strengthen anti-money laundering [...]
Co-owners of successful Arizona based closely held business disagreed about the entity’s future, its ownership and its management. DeAngelis Legal reviewed the parties’ shareholder agreement and other corporate documents, advised the owner regarding various exit strategies and negotiated and implemented the ultimate sale of a non-controlling interest to a third party.
Majority owner of Arizona based business desired to sell its interest to a third party. However, the minority owner and operator had different objectives. DeAngelis Legal met with the minority owner, reviewed the transaction documents and provided comments and suggestions to the minority owner to use in his employment agreement negotiations.
During the review and update of a new ultra high net-worth Scottsdale couple’s estate plan, DeAngelis Legal identified estate tax issues, provided alternative solutions for achieving the couple’s charitable giving objectives and restructured their charitable giving to maximize the amount given to charities and the couple’s family members through changes to their revocable trust, retirement [...]
High net-worth Scottsdale couple asked for assistance with funding their revocable trust with complex closely held business interests, retirement accounts and life insurance. DeAngelis Legal assisted with the update of each entity’s corporate records and transfer them to their revocable trust. The updates included amendments to the operating agreement to comply with recent ownership changes [...]
High net worth Arizona couple had not reviewed their revocable trust in over ten years. The husband became ill and upon review, their advisors found the trusts to be ambiguous and tax inefficient. DeAngelis Legal worked with the couple and their adult children to evaluate and prepare a comprehensive and complex revocable trust. The new [...]
New out of state client’s mother and her boyfriend jointly owned their personal residence in Maricopa County as tenants in common and subject to a cohabitation agreement. The cohabitation agreement granted the surviving party an option to acquire the property upon a death. Client’s parent named her child as the designated beneficiary of her half [...]
During the administration of a decedent’s trust, the trustee identified a brokerage account in the decedent’s individual name, even though all other assets were either titled in the name of the revocable trust or transferred outside the trust directly pursuant to a beneficiary designation. Because the account was over the threshold for a small estate [...]
Scottsdale couple desired to update their estate plan and corporate records. Complicating the planning were a mix of community and sole and separate assets, including a legal practice, long-standing construction company, children from a previous marriage and less than complete corporate records. DeAngelis Legal worked with the couple to identify their objectives, discuss alternatives and [...]
Scottsdale couple with adult children desired to update their estate plan. After a quick discussion regarding the assets, the children and the couple’s objectives, DeAngelis Legal created and implemented a simple revocable trust and ancillary documents necessary to achieve their objectives upon disability and death. The documents included wills, financial powers of attorney, healthcare powers [...]
