DeAngelis Legal assisted with the trust decanting of an irrevocable trust. We prepared the new trust instrument which holds a variety of closely held businesses, real estate entities and marketable securities. The old instrument was prepared by another law firm and its terms did not meet with the settlors’ intent. DeAngelis Legal worked with the [...]
DeAngelis Legal negotiated the terms of the letter of intent and purchase documents and assisted the closing of the sale of the business of a long time corporate client in Phoenix. DeAngelis Legal had represented the entity since formation over 20 years ago. Over the years, DeAngelis Legal provided advice on a variety of business [...]
DeAngelis Legal assisted a long time Mesa client with the sale of her interest in a medical practice to her partner. After many years of discussing alternatives, the parties came to terms. DeAngelis Legal advised the seller on the terms and structure, prepared draft documents and negotiated changes requested by the buyer’s attorney and assisted [...]
Earlier this year Quinn volunteered to pack food boxes at St. Mary’s Food Bank and was impressed with their mission and operations. Currently, 1 in 4 Children live in poverty, and food insecurity rates are nearing 30% in Arizona. This holiday season DeAngelis Legal has teamed up with the St. Mary’s Food Bank to fight [...]
DeAngelis Legal created several new entities this month in a variety of industries. A couple corporations and several limited liability companies (LLCs). The proper choice of entity and its proper tax character (c-corporation, s-corporation, partnership or disregarded entity) is largely driven by liability protection, the entity’s purpose and industry (i.e., real estate holding company, operating [...]
DeAngelis Legal assisted a Sedona high net worth couple with a comprehensive review of their estate planning documents, including their wills, trust, and family limited partnership. DeAngelis Legal met with the couple to learn about their objectives, reviewed their current plan and made recommendations, prepared documents updating their plan to make it consistent with their [...]
DeAngelis Legal assisted new client with the judicial termination of a Charitable Remainder Trust. The trust was established many years earlier and was struggling to cover increased administrative costs and distributions to the income beneficiaries. DeAngelis Legal worked with the income beneficiaries, the charitable remainder beneficiaries, their accountant and the corporate trustee to value the [...]
DeAngelis Legal performed a corporate review of the structure and records of several new clients and proposed recommended changes to confirm with each client’s operations and objectives. The clients created several entities over the years, creating a rat’s nest of entities. Separate entities provide enhanced creditor protection, but owners need to adhere to corporate formalities [...]
DeAngelis Legal negotiated key points of two employment agreements on behalf of separate Scottsdale employees. One in connection with a new position and the other with a public offering. Key negotiated items included the noncompete, confidentiality, termination and default provisions.
Estate Planning Update July, 2021 1. 2021 Annual Gift Tax Exclusion: remains at $15,000 per donor, per donee. 2. 2021 Gift and Estate Tax Exemption: increased to $11,700,000 per donor through 2025, see #6. 3. Marital Deduction for Transfers to U.S. Spouse: unlimited. 4. 2021 Generation Skipping Tax Exclusion: increased to $11,700,000 per donor through [...]
