Three years! After three years, we completed the administration of a client’s deceased aunt’s estate and trust. What should have been a relatively simple administration turned into a lengthy probate. The administration was not contested but was complicated by the aunt’s lack of financial records, failure to title assets in the name of her trust, [...]
Assisted new client with the review and negotiation of a operating agreement for a closely held company. DeAngelis Legal provided comments and recommendations as well as sample provisions for updating the agreement incorporating Arizona's new LLC Act.
Assisted long time high net worth Scottsdale couple with the review and analysis of their complex estate plan. DeAngelis Legal reviewed their current plan, updated tax projections based on various scenarios and provided various recommendations for utilizing their remaining gift, estate and GST tax exemptions. DeAngelis Legal is also preparing the additional spousal lifetime access [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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.