Trust Administration Administrating a trust post-death should be as easy as your successor trustee accepting the responsibility for the trust, taking control of the assets, satisfying creditors and following the trust’s distribution provisions. Unfortunately, we are seeing longer administration times, most of which could have been greatly reduced with minimal upfront planning. Recent examples we [...]
SECURE Act Impact on Trusts While we were focused on the impeachment hearings, Congress and the President were busy passing the SECURE Act. The Act was signed into law on December 20, 2019 and is effective January 1, 2020. In addition to funding federal agencies through September, the SECURE Act impacts trusts by reducing the [...]
Represented several clients with the formal dissolution of their closely held entities. A dentist, an anesthesiologist and a real estate investor all had wound down their operations and chose to formally dissolve their entities with the corporation commission to cut off future creditors. DeAngelis Legal assisted each client with the preparation of a plan of [...]
For the third month in a row a private equity group and their national law firm insisted on the transaction being structured as an “F-reorganization” for tax purposes. For a description of this type of transaction see https://www.deangelislegal.com/business-services/mergers-acquisitions/. DeAngelis Legal was brought in after the letter of intent, but assisted the new construction client with [...]
After the confidentiality agreement, the Letter of Intent is the next step in the sale of a business and is intended to be a non-binding document which outlines the material deal points of the transaction. Sellers want to know what the material terms of the offer are, and Buyers want to know that their [...]
In a show of how strong the market is right now, we assisted another mid-market Arizona based corporation with the sale of their business. Again, the private equity group and their national law firm insisted on the transaction being structured as an “F-reorganization” for tax purposes in lieu of an asset sale as originally proposed. [...]
Assisted long time mid-market corporate client with the sale of their business. The transaction was structured as an “F-reorganization” for tax purposes in lieu of a stock sale. For a description of the benefits of this type of transaction see https://www.deangelislegal.com/business-services/mergers-acquisitions/ DeAngelis Legal assisted the sellers with all phases of the transaction, including the [...]
Assisted Scottsdale business owner with a comprehensive review of the ownership records and succession plan. DeAngelis Legal worked with the long-term client to prepare a business succession plan of the Company upon the owner’s death or disability, update the entity's corporate records and prepare an amendment to the Stockholders Agreement.
Scottsdale shareholder of closely held entity identified several corporate issues that needed to be resolved with co-owner. DeAngelis Legal worked with shareholder and co-owner’s counsel to conduct director meetings and provide solutions to current issues and implement a process for resolving future issues.
Closely held Phoenix manufacturer’s representative company desired to sell its assets to another distributer. DeAngelis Legal assisted the owners with the transaction terms, reviewed and edited the proposed asset purchase agreement and provide advice regarding closing.