Represented beneficiary with respect to his interest in irrevocable trust. Beneficiary’s late spouse left her assets in trust for surviving spouse. DeAngelis Legal analyzed trust terms, explained terms and alternatives to beneficiary and prepared the documents necessary to exercise beneficiary's rights to without amending or terminating the trust.
“I recommend you dispose of anything that does not fall into one of three categories: currently in use, needed for a limited period of time, or must be kept indefinitely.”― Marie Kondo, “The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing”* Ms. Kondo offers great advice in the above book for discarding [...]
Estate Planning Update January, 2019 2019 Annual Gift Tax Exclusion: remains at $15,000 per donor, per donee. 2019 Gift and Estate Tax Exclusion: $11,400,000 per donor through 2025, see #6 below. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2019 Generation Skipping Tax Exclusion: $11,400,000 per donor through 2025, see #6 below. Top rate for [...]
Assisted a wealthy Scottsdale couple with an update to their existing revocable trust. DeAngelis Legal assisted couple with the preparation of a complex trust intended to hold concentrated and illiquid assets and limited rights of the beneficiaries to use the trust assets.
Represented high net worth Scottsdale couple owning numerous closely held business and real estate interests with a comprehensive review of their corporate plan. DeAngelis Legal reviewed current terms and structure and made significant recommendations to maximize creditor protection, minimize estate taxes and facilitate administration of structure upon a death or disability of the couple. DeAngelis Legal [...]
Represented elderly Scottsdale couple with an update to their estate plan. The retired husband and wife have adult children with different economic means. DeAngelis Legal reviewed the couple’s current plan, made recommendations, discussed alternatives and drafted a new estate plan creating trusts with third party corporate trustees for their children which had the effect of [...]
Represented young Scottsdale couple with core estate planning documents. DeAngelis Legal interviewed the young entrepreneur and his wife, made recommendations, and ultimately drafted and implemented a comprehensive estate plan which named guardians for their minor children, created trusts which deferred the children’s control over the assets and integrated other aspects of the couple’s assets and [...]
October was the month of trust and estate administration. DeAngelis Legal assisted several different families with the administration of irrevocable trusts in Scottsdale, the filing of a formal probate of a copy of a will in Maricopa County and in informal probate of a murder victim’s intestate estate in Mohave County.
Legal Implications of Community Property While love may be in the air in the spring, October is the most popular month to get married. With the excitement of the engagement and all the planning for the wedding, travel and gifts, few couples spend the time to reflect on how their financial rights and obligations will [...]
Estate Planning Update July, 2018 2018 Annual Gift Tax Exemption: increased to $15,000 (from $14,000) per donor, per donee. 2018 Gift and Estate Tax Exemption: $11,180,000 per donor through 2025, see below. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2018 Generation Skipping Tax Exemption: $11,180,000 per donor through 2025, see below. Top rate for [...]