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November 2020 Election Results

With the Democrats capturing the presidency and holding on to a majority in the U.S. House of Representatives, all eyes are focused on the Georgia Senate race.  The remaining candidates in each race will advance to a runoff election on January 5, 2021. The Democrats need to pick up both Georgia seats to gain control [...]

By |2020-11-23T17:02:51-07:00November 23rd, 2020|Federal Estate Tax, Recent Projects, Homepage|Comments Off on November 2020 Election Results

October 2020 Estate Planning

DeAngelis Legal spent a considerable amount of time in October evaluating and coordinating large transfers for clients.  In reviewing the numbers, clients over the age of 80 with a taxable estate substantially over the Federal Gift and Estate Tax exclusion ($11,580,000 per spouse) were the most likely to make such transfers, while younger clients seemed [...]

By |2020-11-23T16:58:30-07:00November 15th, 2020|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on October 2020 Estate Planning

October 2020 Corporate

Assisted minority shareholder with the review and negotiation of a comprehensive ownership succession plan for a closely held business.  DeAngelis Legal provided a detailed analysis of the plan, comments to the documentation and potential resolutions of the issues raised.  The plan involved updating the firm’s articles, bylaws and shareholders agreement.  The shareholders agreement had triggering [...]

By |2020-11-23T16:50:19-07:00November 15th, 2020|Recent Projects, Succession Planning, Homepage|Comments Off on October 2020 Corporate

Top 7 Thoughts for Business Owners 2020

Happily, most our business clients have adjusted to the new reality of 2020 and are holding up well, with residential home building industry leading the way. This does not mean that there haven’t been casualties. Small businesses such as restaurants, bars, gyms, hotels and certain medical practices obviously have been the hardest hit. We have [...]

By |2020-10-28T13:58:31-07:00October 15th, 2020|Past Newsletters, Business Services, Succession Planning, Homepage|Comments Off on Top 7 Thoughts for Business Owners 2020

Keeping Corporate Records

Time and time again we are asked to re-create the corporate records of an entity. The fire drill is ignited by the need for financing, a large asset transaction, an IRS audit, an impending sale of the business or litigation. Business owners lose their mind that these seeming inconsequential items are holding up the transaction [...]

By |2020-10-28T14:00:41-07:00October 15th, 2020|Past Newsletters, Entity Formation, Business Services, Homepage|Comments Off on Keeping Corporate Records

September 2020 Estate Tax Planning

Concerns over an impending “blue wave” of Democrats taking over the Senate caused our phones to ring in September.  DeAngelis Legal spent a significant amount of time with these high net worth clients throughout Arizona describing and evaluating the best alternatives for utilizing their remaining estate tax exemptions before the end of the year.  Several [...]

By |2020-10-28T14:01:12-07:00October 15th, 2020|Past Newsletters, Federal Estate Tax, Recent Projects, Estate Planning, Homepage|Comments Off on September 2020 Estate Tax Planning

September 2020 Mergers and Acquisitions

Represented a new client with the buyout of an investor from a closely held business in Scottsdale. DeAngelis Legal advised the buyer regarding the acquisition structure, reviewed and revised the interest purchase agreement and prepared the documents necessary to properly evidence the buyer as the sole owner of the entity going forward.

By |2020-10-27T20:53:51-07:00October 15th, 2020|Past Newsletters, Recent Projects, Mergers & Acquisitions, Homepage|Comments Off on September 2020 Mergers and Acquisitions

September 2020 Trust Termination

Another one bites the dust. DeAngelis Legal assisted this long-time Phoenix client with the termination of an irrevocable trust created by his parents through a non-judicial settlement agreement among the trustee and beneficiaries. The agreement provided for a distribution to the remainder beneficiaries and the distribution of illiquid real estate to the income beneficiary. In [...]

By |2020-10-27T20:50:20-07:00October 15th, 2020|Recent Projects, Probate and Trust Administration, Estate Planning|Comments Off on September 2020 Trust Termination

August 2020 Corporate Records

Quinn was called as witness in litigation between two owners of a closely held entity. Quinn had previously represented a party to the litigation with the review and analysis of the corporate records and identified several irregularities with the records. Unfortunately, the parties could not resolve the issues and the dispute ended up in litigation. [...]

By |2020-10-27T20:44:51-07:00September 15th, 2020|Entity Formation, Recent Projects, Business Services, Homepage|Comments Off on August 2020 Corporate Records

August 2020 Corporate Terminations

Business owners are continuing to wind up their operations. DeAngelis Legal terminated five entities this month, three corporations and two limited liability companies. While COVID-19 was not the reason for most of the terminations, it is a telling sign of the state of the economy when we terminate more entities than we create in a [...]

By |2020-10-27T20:39:10-07:00September 15th, 2020|Entity Formation, Recent Projects, Business Services|Comments Off on August 2020 Corporate Terminations