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Residential Real Estate

Residential real estate continues to be a significant asset in most estates we plan.  It also continues to cause considerable issues with the estates and trusts we administer.  Whether caused by poor financial planning, poor estate planning or poor execution, the result is always the same – increased family discord, frustration and expense during administration [...]

By |2023-07-27T14:34:43-07:00July 22nd, 2023|Past Newsletters, Probate and Trust Administration, Estate Planning|Comments Off on Residential Real Estate

July 2023 Estate Planning Update

Estate Planning Update July 2023 2023 Annual Gift Tax Exclusion: increased to $17,000 per donor, per donee. 2023 Gift and Estate Tax Exemption: increased to $12,920,000 per donor through 2025, see #6, an increase of $860,000. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 2023 Generation Skipping Tax Exclusion: increased to $12,920,000 per donor [...]

By |2023-07-25T10:27:39-07:00July 22nd, 2023|Annual Estate Plan Updates, Past Newsletters, Federal Estate Tax, Recent Projects, Probate and Trust Administration, Estate Planning|Comments Off on July 2023 Estate Planning Update

June 2023 Entity Formation

Long time physician client decided to pursue temporary short term “locum tenens” work in lieu of W-2 employment at a hospital. DeAngelis Legal reviewed the client’s objectives, evaluated alternative forms of entity (corporation, llc, or llp) and prepared and filed the documentation necessary to form an Arizona corporation with a Subchapter “S” election. The client’s [...]

By |2023-07-09T12:15:05-07:00July 15th, 2023|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth|Comments Off on June 2023 Entity Formation

June 2023 Corporate Entity Review and Update

Young Scottsdale couple accumulated several businesses and real estate properties owned by four different entities formed in three different states. DeAngelis Legal reviewed each entity’s purpose, tax records, formation documents and contact information and prepared the documents necessary to conform with how the entities were treated for income tax purposes, update each entity’s contact information [...]

By |2023-07-09T12:17:27-07:00July 15th, 2023|Past Newsletters, Recent Projects, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on June 2023 Corporate Entity Review and Update

June 2023 Informal Probate

At the end of the administration of a trust, the title company required the trustee to open a probate and obtain letters of personal representative before closing. This is the second matter in as many months where DeAngelis Legal has had to deal with simple mistakes that caused significant delays and additional expenses in trust [...]

By |2023-07-27T14:37:07-07:00July 15th, 2023|Past Newsletters, Recent Projects, Probate and Trust Administration, Homepage|Comments Off on June 2023 Informal Probate

May 2023 Formal Probate

Trustee of a large estate identified a small investment account that was not transferred to the decedent’s revocable trust during his lifetime (mistake #1).  Unfortunately, while making a copy of his will prior to his death the decedent had mixed the pages of the original and the copy (mistake 2), so while we had the [...]

By |2023-07-09T12:16:42-07:00June 15th, 2023|Past Newsletters, Recent Projects, Probate and Trust Administration, Homepage|Comments Off on May 2023 Formal Probate

May 2023 Independent Contractor Agreement Form

Telecommunication client reviewed and updated its form agreement with vendors. DeAngelis Legal reviewed and revised the agreement. As part of its review, DeAngelis Legal reviewed the client’s master agreement with significant customers, interviewed operations personnel to identify issues and reviewed feedback from vendors and modified the agreement. The result being an agreement that more accurately [...]

By |2023-07-09T12:16:14-07:00June 15th, 2023|Recent Projects, Business Services|Comments Off on May 2023 Independent Contractor Agreement Form

April 2023 Marital Agreement

A recently re-married Scottsdale client desired to define the financial relationship with their spouse. DeAngelis Legal met with the client identifying common issues and solutions and drafted a comprehensive agreement addressing issues such as the waiver of community property laws, the waiver of the obligation to provide support, restricting gifts and joint debts, and providing [...]

By |2023-07-09T12:15:44-07:00May 15th, 2023|Recent Projects, Estate Planning, Protecting Family Wealth|Comments Off on April 2023 Marital Agreement

April 2023 Corporate Restructure

A new Arizona resident desired to move their real estate business to Arizona from out of state. DeAngelis Legal worked with the client to evaluate alternative business structures, balancing income tax, estate tax and liability concerns. DeAngelis Legal drafted the new entities, domesticated entities from their home state and authorized other entities to do business [...]

By |2023-07-09T11:47:38-07:00May 15th, 2023|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth|Comments Off on April 2023 Corporate Restructure

Corporate Records

Why do we spend so much time and energy on updating corporate records? Soon after the entity is created, business owners move on to growing their business and often fail to pay attention to the details of maintaining proper corporate records.  As a non-priority item, these tasks get pushed down and forgotten until an event [...]

By |2023-05-17T17:54:49-07:00April 20th, 2023|Past Newsletters, Entity Formation, Succession Planning, Protecting Family Wealth|Comments Off on Corporate Records