Probate and Trust Administration

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April 2020 Irrevocable Trust Termination

Scottsdale couple transferred their personal residences to several irrevocable Qualified Personal Residence Trusts (QPRTs) under the advice of prior counsel.  Clients now desired to unwind the transactions.  DeAngelis Legal reviewed the facts, trust documents and client’s objectives in order to propose alternatives for terminating the QPRTs in conjunction with the client’s tax and accounting professionals.  [...]

By |2020-07-04T15:39:41-07:00May 15th, 2020|Recent Projects, Probate and Trust Administration, Homepage|Comments Off on April 2020 Irrevocable Trust Termination

March 2020 Informal Intestate Probate

Opened informal intestate probate.  Father prepared his estate plan documents but never signed them.  DeAngelis Legal represented personal representative open an informal intestate probate in Arizona to transfer assets to the beneficiaries.  Using Arizona's simplified and expedited informal probate process, the personal representative was able to gain control over the decedent's assets and distribute the [...]

By |2020-04-11T16:56:04-07:00April 15th, 2020|Recent Projects, Probate and Trust Administration|Comments Off on March 2020 Informal Intestate Probate

February 2020 Separate IRA Accounts for Beneficiaries

Represented surviving children with administration of trust.  Husband and wife each had children from a previous marriage and entered into a trust agreement which became irrevocable upon the first spouse’s death.  Successor trustees engaged DeAngelis Legal to assist them with the administration of the trust and provide solutions for a beneficiary designation that was rejected [...]

By |2020-04-11T16:24:20-07:00March 15th, 2020|Recent Projects, Probate and Trust Administration, Homepage|Comments Off on February 2020 Separate IRA Accounts for Beneficiaries

January 2020 Modified Terms of Irrevocable Trust

Another irrevocable trust bites the dust.  Surviving spouse failed to fund the bypass trust upon her husband’s death.  Trustee engaged DeAngelis Legal to negotiate and draft a non-judicial settlement agreement between the trustees and beneficiaries.  The agreement provided for a revised allocation of the assets upon the surviving spouse’s death and a release of claims [...]

By |2020-04-13T10:17:20-07:00February 15th, 2020|Recent Projects, Probate and Trust Administration|Comments Off on January 2020 Modified Terms of Irrevocable Trust

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

December 2019 Trust Administration

Assisted personal representative with the administration of an estate and trust.  For the past couple of years DeAngelis Legal assisted the personal representative and trustee gather control over the decedent's assets, liquidate them and this December deliver the final checks to several charitable organizations.  The administration was complicated by the failure of the decedent to [...]

By |2020-01-25T20:57:20-07:00January 15th, 2020|Recent Projects, Probate and Trust Administration, Protecting Family Wealth, Homepage|Comments Off on December 2019 Trust Administration

July 2019 Probate Administration

DeAngelis Legal represented the personal representative with a simple probate of a will.   Sister died and left a will naming her brother as personal representative and waived bond.  DeAngelis Legal prepared, filed and obtained approval of the informal probate of a will application with the Maricopa County Probate Court.  Upon the Letters of Personal Representative [...]

By |2019-08-29T17:53:11-07:00August 15th, 2019|Recent Projects, Probate and Trust Administration, Homepage|Comments Off on July 2019 Probate Administration

July 2019 Estate Plan Update

Estate Planning Update July, 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 [...]

By |2019-07-29T18:13:29-07:00July 22nd, 2019|Annual Estate Plan Updates, Federal Estate Tax, Probate and Trust Administration, Estate Planning|Comments Off on July 2019 Estate Plan Update