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, [...]
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 [...]
July marked our first confirmed trust administration of a COVID-19 related death. Several members of the family contracted the disease and unfortunately, the father died. The Scottsdale couple were long time clients of the firm and the death surprised everyone. DeAngelis legal prepared the initial trust package with the required documents, including the acceptance of [...]
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. [...]
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 [...]
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 [...]
