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October 2022 LLC Operating Agreement Review

DeAngelis Legal performed a comprehensive review and edit of a proposed multi-member LLC operating agreement on behalf a new client.  The client asked DeAngelis Legal to provide input on the operating agreement.  DeAngelis Legal provided a memo with additional questions and substantive comments and edits regarding management, capital contributions, purchase options and purchase price valuation.

By |2022-11-13T14:55:02-07:00November 15th, 2022|Entity Formation, Recent Projects, Homepage|Comments Off on October 2022 LLC Operating Agreement Review

October 2022 Letters of Personal Representative

DeAngelis Legal obtained Letters of Personal Representative for a trustee who identified an asset that was not transferred to the trust.  The deceased participated in his employer’s stock option plan.  Unfortunately, the plan failed to name a beneficiary and the employer would not transfer the asset without the Letters of Personal Representative.  DeAngelis Legal prepared [...]

By |2022-11-13T14:53:02-07:00November 15th, 2022|Recent Projects, Probate and Trust Administration, Homepage|Comments Off on October 2022 Letters of Personal Representative

Corporate Structure Review

Falling for fall. Fall is wonderful. Harvest time. The afterglow of summer travels and the excitement of the first snowfall knowing the holidays and ski season are right around the corner. It is also a time when we audit our corporate clients to review strategic plans, make sure their corporate structure is appropriate and assure [...]

By |2022-10-28T09:55:28-07:00October 22nd, 2022|Entity Formation, Business Services, Protecting Family Wealth|Comments Off on Corporate Structure Review

September 2022 Simple Estate Plan

DeAngelis Legal represented a young Phoenix couple expecting their first child with their estate plan documents.  The couple represents the third generation in this family that DeAngelis Legal had represented after obtaining the necessary consents and waivers of potential conflicts from the other family members, .  The simple estate plan included simple wills, powers of [...]

By |2022-10-26T10:15:10-07:00October 15th, 2022|Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on September 2022 Simple Estate Plan

September 2022 Trust Administration

Sometimes trust administrations are easy.  DeAngelis Legal represented the beneficiary of a trust created by the beneficiary’s parents.  Years of strained relations caused tension between family members, one of which was the trustee.  After obtaining the documents clarifying past transactions, accounting and distribution amounts, the beneficiary signed off on the trust and received his share [...]

By |2022-11-13T14:49:52-07:00October 15th, 2022|Recent Projects, Probate and Trust Administration, Protecting Family Wealth|Comments Off on September 2022 Trust Administration

August 2022 Corporate Records Clean Up

DeAngelis Legal reviewed the corporate records of a client who created several entities on their own.  DeAngelis Legal prepared missing and updated documents necessary to satisfy the title company’s requirements.  The documents included amendments to operating agreements, member consents and a deed.

By |2022-10-27T15:29:42-07:00September 15th, 2022|Recent Projects, Business Services, Protecting Family Wealth, Homepage|Comments Off on August 2022 Corporate Records Clean Up

July 2022 Cohabitation and Premarital Agreement

DeAngelis Legal prepared a comprehensive cohabitation and premarital agreement for a Scottsdale physician.  The agreement provided for terms upon which the couple would reside together and in the event they were married, modified the community property rules to achieve their intent.  Significant issues addressed included the disparate net worth and income of the couple, closely [...]

By |2022-08-15T16:58:27-07:00August 15th, 2022|Recent Projects, Estate Planning, Protecting Family Wealth|Comments Off on July 2022 Cohabitation and Premarital Agreement

July 2022 Trust Non-Judicial Settlement Agreement

DeAngelis Legal created another non-judicial settlement agreement modifying the terms of an irrevocable trust.  Decedent died before updating his estate plan, an all-too-common occurrence, leaving the beneficiaries of his trust to piece it together and work out the details themselves.  DeAngelis Legal prepared the settlement agreement, modifying the decedent’s trust to conform with his intentions [...]

By |2022-08-15T16:55:09-07:00August 15th, 2022|Recent Projects, Probate and Trust Administration|Comments Off on July 2022 Trust Non-Judicial Settlement Agreement

Trusts for Children

At its core, estate planning is setting the terms upon which assets are transitioned from a person, often a parent, to another such as a child. Without proper estate planning creating trusts for children, a parent’s assets become available to the child immediately if at the parent’s death: (a) the parent was not married to [...]

By |2022-07-29T11:26:55-07:00July 25th, 2022|Past Newsletters, Estate Planning, Protecting Family Wealth|Comments Off on Trusts for Children

July 2022 Estate Planning Update

 Estate Planning Update July, 2022 1. 2022 Annual Gift Tax Exclusion: increased to $16,000 per donor, per donee. 2. 2022 Gift and Estate Tax Exemption: increased to $12,060,000 per donor through 2025, see #6. 3. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 4. 2022 Generation Skipping Tax Exclusion: increased to $12,060,000 per donor [...]

By |2022-07-29T11:30:04-07:00July 20th, 2022|Annual Estate Plan Updates, Past Newsletters, Federal Estate Tax, Estate Planning, Protecting Family Wealth|Comments Off on July 2022 Estate Planning Update