Business Transition Lunch Invite
Business Transition Invitation 5.16.25
March 2025 Gifting
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 [...]
January 2025 Estate Planning Update
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 [...]
November 2024 Operating Agreement and Phantom Stock Plan
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?
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 [...]
July 2024 Estate Planning Update
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 [...]
March 2024 Insurance Holding Company
A closely held corporate client had previously established a sophisticated shareholders agreement that provided for the purchase and sale of the entity’s shares upon certain triggering events. The purchase price was funded with large insurance policies on the lives of the shareholders. Unfortunately, instead of naming the third-party trustee as the owner, the insurance agent [...]
March 2024 Corporate Formations
Spring training was back in full swing this year, which meant agents were working hard and players were setting up their entities to hold endorsement deals and updating their estate plans before the season started. DeAngelis Legal created several new entities for players to assist them with managing their endorsements and drafted new estate plans [...]
February 2024 High Net Worth Estate Plan Review
Ultra high net worth Chandler couple asked for a review of their estate plan and associated estate taxes. DeAngelis Legal performed a comprehensive review of their finances and estate plan, including financial statements, trusts, and beneficiary designations on retirement accounts and life insurance. DeAngelis Legal identified several options for reducing their estate tax obligations by [...]
January 2024 High Net Worth Estate Planning
High net worth second marriage couple from Phoenix desired to review and update their estate plan, which included bequests of sole and separate property to each spouse’s children. DeAngelis Legal reviewed the couple’s current estate plan, worked with their investment advisor and accountant to identify and resolve a variety of income tax, estate tax and [...]