Estate Planning

Home/Estate 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 High Net Worth Estate Tax Planning

Assisted high net worth Paradise Valley family with the overhaul of their estate plan.  Their current plan was outdated.  DeAngelis Legal had several meetings with parents, provided alternatives for their desire to take advantage of current estate and property tax laws to minimize taxes, provide for future generations and protect the wealth from creditors.  In [...]

By |2021-01-25T18:12:11-07:00January 15th, 2021|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on December 2020 High Net Worth Estate Tax Planning

December 2020 Probate and Trust Adminstration

Assisted successor trustees with the administration of a trust after the death of both spouses.  What should have been a simple administration was complicated by poor planning, the surviving spouse’s failure to follow the terms of the trust and her failure to provide remainder beneficiaries with important information, such as where the original documents are [...]

By |2021-01-25T18:04:28-07:00January 15th, 2021|Past Newsletters, Recent Projects, Probate and Trust Administration, Homepage|Comments Off on December 2020 Probate and Trust Adminstration

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 Estate Tax Planning

Assisted long time high net worth Scottsdale couple with the review and analysis of their complex estate plan.  DeAngelis Legal reviewed their current plan, updated tax projections based on various scenarios and provided various recommendations for utilizing their remaining gift, estate and GST tax exemptions.  DeAngelis Legal is also preparing the additional spousal lifetime access [...]

By |2020-12-04T16:51:15-07:00December 15th, 2020|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 Estate Tax Planning

November 2020 Election Results

With the Democrats capturing the presidency and holding on to a majority in the U.S. House of Representatives, all eyes are focused on the Georgia Senate race.  The remaining candidates in each race will advance to a runoff election on January 5, 2021. The Democrats need to pick up both Georgia seats to gain control [...]

By |2020-12-04T16:36:25-07:00November 23rd, 2020|Federal Estate Tax, Recent Projects, Homepage|Comments Off on November 2020 Election Results

October 2020 Estate Planning

DeAngelis Legal spent a considerable amount of time in October evaluating and coordinating large transfers for clients.  In reviewing the numbers, clients over the age of 80 with a taxable estate substantially over the Federal Gift and Estate Tax exclusion ($11,580,000 per spouse) were the most likely to make such transfers, while younger clients seemed [...]

By |2020-11-23T16:58:30-07:00November 15th, 2020|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on October 2020 Estate Planning

September 2020 Estate Tax Planning

Concerns over an impending “blue wave” of Democrats taking over the Senate caused our phones to ring in September.  DeAngelis Legal spent a significant amount of time with these high net worth clients throughout Arizona describing and evaluating the best alternatives for utilizing their remaining estate tax exemptions before the end of the year.  Several [...]

By |2020-10-28T14:01:12-07:00October 15th, 2020|Past Newsletters, Federal Estate Tax, Recent Projects, Estate Planning, Homepage|Comments Off on September 2020 Estate Tax Planning

September 2020 Trust Termination

Another one bites the dust. DeAngelis Legal assisted this long-time Phoenix client with the termination of an irrevocable trust created by his parents through a non-judicial settlement agreement among the trustee and beneficiaries. The agreement provided for a distribution to the remainder beneficiaries and the distribution of illiquid real estate to the income beneficiary. In [...]

By |2020-10-27T20:50:20-07:00October 15th, 2020|Recent Projects, Probate and Trust Administration, Estate Planning|Comments Off on September 2020 Trust Termination

2020 Election Impact on Estates and Trusts

We continue to monitor the election polling and its potential impact on the estate and gift tax laws.  If the democratic party wins the Presidency and control of Congress, it is possible that (a) the planned reduction in the exemption amounts is accelerated, to as low as $3,500,000 per person, (b) the tax rate is [...]

By |2020-08-29T16:59:15-07:00August 29th, 2020|Federal Estate Tax, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on 2020 Election Impact on Estates and Trusts