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January 2021 Estate Planning Update

Estate Planning Update January, 2021 2021 Annual Gift Tax Exclusion: remains at $15,000 per donor, per donee. 2021 Gift and Estate Tax Exemption: increased to $11,700,000 per donor through 2025, see #8. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2021 Generation Skipping Tax Exclusion: increased to $11,700,000 per donor through 2025, see #8. Top [...]

By |2021-01-26T19:26:49-07:00January 25th, 2021|Annual Estate Plan Updates, Past Newsletters, Federal Estate Tax, Estate Planning, Succession Planning, Protecting Family Wealth|Comments Off on January 2021 Estate Planning Update

December 2020 Corporate Succession Planning

Assisted long time corporate client with the review and implementation of its succession plan.  DeAngelis Legal reviewed the plan and prepared the necessary documents to the next stage of the plan, which included issuing additional shares to key employees and making gifts to family members, effectively cleaning up fractional shares of the entity and furthering [...]

By |2021-01-25T18:02:13-07:00January 15th, 2021|Recent Projects, Business Services, Succession Planning, Homepage|Comments Off on December 2020 Corporate Succession Planning

November 2020 Probate and Trust Adminstration

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, [...]

By |2020-12-04T16:50:18-07:00December 15th, 2020|Recent Projects, Probate and Trust Administration, Estate Planning, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 Probate and Trust Adminstration

November 2020 LLC Operating Agreement Review

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.

By |2020-12-04T16:50:58-07:00December 15th, 2020|Entity Formation, Recent Projects, Business Services, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 LLC Operating Agreement Review

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 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

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