DeAngelis Legal assisted two new clients to open informal probate to transfer assets out of the deceased person’s name. In both situations, the deceased person failed to transfer the asset to their trust and the account custodian (one a financial institution and the other a title company) required “Letters of Personal Representative” before they would [...]
DeAngelis Legal assisted with the trust decanting of an irrevocable trust. We prepared the new trust instrument which holds a variety of closely held businesses, real estate entities and marketable securities. The old instrument was prepared by another law firm and its terms did not meet with the settlors’ intent. DeAngelis Legal worked with the [...]
DeAngelis Legal assisted new client with the judicial termination of a Charitable Remainder Trust. The trust was established many years earlier and was struggling to cover increased administrative costs and distributions to the income beneficiaries. DeAngelis Legal worked with the income beneficiaries, the charitable remainder beneficiaries, their accountant and the corporate trustee to value the [...]
The death toll resulting from COVID-19 continues to climb. June was no exception, with several new probates opened and trusts administered. A common theme among them was the failure to find the decedent’s original documents. The probate process is one of the few remaining areas where an original will is still required. This is because [...]
DELEGATION OF TRUSTEE POWERS When a client has a large asset base and a trust that will continue for a long period of time or in perpetuity, trustee selection often becomes an important issue to address. There may not be another person the client trusts to make decisions or who has the sophistication to invest, [...]
New Surprise client had complex and illiquid business and real estate structure with his son intertwined with the estate plan of his deceased spouse. DeAngelis Legal retraced years of financial transactions, met with the client regarding his documents and objectives and developed a plan for moving forward. The plan cleaned up and documented past transactions, [...]
The COVID-19 Christmas waive hit Arizona hard and it showed up in the number of new probate and trust administration files being opened. From easy informal probates of signed wills, to intestate estates for those that failed to sign a valid will to complex trust administrations, DeAngelis Legal has been advising numerous trustees and beneficiaries [...]
Here are our Top 7 Tips for Estate Planning this year: Review K-1s and 1099s. These documents should show your trust or you as trustee or its abbreviation “TR.” If not, the asset is most likely title in your individual name and should be transferred to the trust. This is especially true if the asset [...]
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 [...]
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, [...]
