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 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 [...]
Business activity is normalizing, with merger and acquisition increasing. In June DeAngelis Legal reviewed two letters of intent, prepared another and talked with several other business owners who were considering a transaction. We had not seen this level of activity since 2019, but it remains to be seen whether the activity will continue or result [...]
Long time Phoenix husband and wife clients own a closely held business among other assets. DeAngelis Legal met with the new clients to discuss their objectives and alternatives and drafted the updated wills, revocable trust, powers of attorney and ancillary documents to achieve their objectives. DeAngelis Legal also updated the corporate records of their business, [...]
In May we saw a significant uptick in business transactions and investment activity, including the review and analysis of start up companies. In one such matter, DeAngelis Legal reviewed the proposed documents, assisted the client in negotiations and structuring of the investment and documented the transaction. Documents included a promissory note and security agreement and [...]
“It’s not personal, it’s just business.” This often used phrase is utilized in a variety of contexts, often to justify some extreme unsupported negotiation position or rationalize an unreasonable result. However, it is plain wrong; business is personal. Business owners who fail to recognize this limit their success and risk losing their investment, goodwill or [...]
Buy-Sell Provisions – What is Appraised Market Value? LLC operating agreements, LLP partnership agreements, and corporation shareholder agreements all contain buy-sell provisions. These provisions grant options to purchase or require purchase of an ownership interest upon certain events such as termination of employment, death, disability, divorce, bankruptcy, etc. (the “triggering events”) in situations where the [...]
The new year kicked off strong on the business side. DeAngelis Legal assisted several clients with start-up entities, evaluating investments in venture capital opportunities and the formation of real estate holding companies. The real estate acquisitions ranged from single family lots to commercial buildings and the business ranged from online products and services to construction [...]
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 [...]
