Succession Planning

Home/Business Services/Succession Planning

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

July 2020 Operating Agreement

Prepared an amended and restated operating agreement between equal owners of an Arizona limited liability company.  DeAngelis Legal reviewed and evaluated owners’ objectives and prepared a compressive operating agreement that incorporated the new LLC law which applies to existing entities as of September 1, 2020.  For more on the new law see https://www.deangelislegal.com/arizonas-new-llc-act/  The operating agreement [...]

By |2020-08-29T16:49:10-07:00August 15th, 2020|Entity Formation, Recent Projects, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on July 2020 Operating Agreement

Money Makes Money

“Money makes money. And the money that makes money, makes more money.” Benjamin Franklin This centuries old quote by our founding father could not be more appropriate today. Millions of Americans are out of work, surviving on government subsidies and yet the stock market and real estate market are approaching historic highs. Those with capital [...]

By |2020-07-30T19:20:42-07:00July 23rd, 2020|Past Newsletters, Estate Planning, Succession Planning, Protecting Family Wealth, Homepage, Uncategorized|Comments Off on Money Makes Money

Planning for Trust Administration

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 [...]

By |2020-01-25T20:12:28-07:00January 25th, 2020|Past Newsletters, Probate and Trust Administration, Succession Planning, Protecting Family Wealth|Comments Off on Planning for Trust Administration