Co-trustees, who were also primary beneficiaries, engaged DeAngelis Legal to assist with the administration of their parent’s trust. Unfortunately, their parents had not transferred all assets to the trust. DeAngelis Legal assisted the trustees with the documentation necessary to obtain control over all assets of the trust without the need for probate through the Affidavit [...]
Family business engaged DeAngelis Legal to assist with the complete overhaul of their corporate records, including a comprehensive operating agreement for the operating business and various investment entities. DeAngelis Legal reviewed the current structure, interviewed family members and drafted documents implementing the family’s intent.
Estate Planning Update July 2025 2025 Annual Gift Tax Exclusion: increased to $19,000 per donor, per donee. 2025 Gift and Estate Tax Exemption: increased to $13,990,000 per donor through 2025 (an increase of $380,000). See paragraph 6 below. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 2025 Generation Skipping Tax Exemption: increased to $13,990,000 [...]
Long time snowbirds decided to make Arizona their primary residence and re-engineer their estate plan. What made this plan interesting is that they have assets in several states, one child running the family business and another child using other assets. DeAngelis Legal worked with the couple to clarify their objectives, balance the interests of their [...]
Business Transition Invitation 5.16.25
Long time clients came in for their five year estate plan review and stated that they were contemplating additional financial gifts to their children. However, they had not addressed important issues regarding this complex and emotional decision. Persons contemplating gifts should ask a few important questions, including: Do you have sufficient capital and resources for [...]
Estate Planning Update January 2025 2024 Annual Gift Tax Exclusion: increased to $19,000 per donor, per donee. 2024 Gift and Estate Tax Exemption: increased to $13,990,000 per donor through 2025 (an increase of $380,000). See paragraph 6 below. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 2024 Generation Skipping Tax Exemption: increased to $13,990,000 [...]
Long time Phoenix entrepreneurs started a new business venture and engaged DeAngelis Legal to assist with the preparation of a comprehensive operating agreement between the current owners and a phantom stock incentive plan for key employees. The operating agreement contained transfer restrictions, modified voting rights, buy-out provisions upon death, disability, bankruptcy and deadlock, a mechanism [...]
Connelly and Buy-Sell Agreements – Is it time for a new strategy? On June 6, 2024, the Supreme Court of the United States decided the case of Connelly v. United States, 144 S. Ct. 1406. The Connelly decision significantly impacts business succession planning using buy-sell agreements funded with life insurance. The Court (i) disregarded the valuation [...]
Estate Planning Update July 2024 2024 Annual Gift Tax Exclusion: increased to $18,000 per donor, per donee. 2024 Gift and Estate Tax Exemption: increased to $13,610,000 per donor through 2025 (an increase of $690,000). See paragraph 6 below. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 2024 Generation Skipping Tax Exemption: increased to $13,610,000 [...]
