Ultra-high net worth client entered into negotiations to sell his business. The business’s attorneys handled the transaction documents, but DeAngelis Legal assisted the client to evaluate various transaction structures to reduce or defer income taxes on the transaction. After reviewing the alternatives, DeAngelis Legal created a new entity and other documents implementing the structure.
High net worth widow knew how she wanted her estate plan handled at death, but was not confident her estate planning attorney understood her desires and therefore had not updated her estate plan in years. After an in-depth review of her finances and objectives, DeAngelis Legal proposed a comprehensive estate plan which achieved her goals [...]
Recent empty nesters from Scottsdale desired to update their estate plan. DeAngelis Legal met with the couple and answered questions regarding their objectives and preferences. The couple preferred a simple plan designed to avoid probate upon incapacity or death and provide the structure for the outright distribution to their children. DeAngelis Legal drafted a basic [...]
Husband and wife created a standard survivor’s bypass trust, with half the assets passing to the family of each spouse. Upon the death of the husband, this structure necessitated the valuation and allocation of the assets between the two trusts. While the couple had plenty of liquidity, the sheer number of entities and accounts made [...]
After updating his estate plan with DeAngelis Legal, a client inquired about alternatives for dealing with an irrevocable trust created by a prior law firm. DeAngelis Legal worked with the client to flush out his core concerns and objectives for his family, reviewed the trust instrument and applicable law to find alternatives and worked with [...]
Beneficiary of irrevocable trust unexpectedly filed for bankruptcy. Trustee engaged DeAngelis Legal to review the trust and Arizona law to determine if the trust’s assets were subject to the bankruptcy trustee’s control. In Arizona, the general rule is that a court may reach the assets of the trust for the benefit of the beneficiary. However, [...]
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 [...]
New high net worth client from Phoenix engaged DeAngelis Legal to update his estate plan documents. The client had created an irrevocable trust with his prior estate planning attorney. The trust was for the benefit of his children and grandchildren in an attempt to use his annual exclusion gifts and named a third-party trustee. However, [...]
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 [...]
Mohith Agadi said it best- “Give yourself and those in need an elixir of life by pledging your organs.” What to do with your body after your death is a very personal decision. Family members are often left guessing (or worse, arguing) about what their loved one desired to have happen with their remains. In [...]
