Holding Vacation Rental Homes in an LLC: Liability, Insurance, and Tax Considerations Owning a vacation rental home can be a rewarding investment, but it also comes with its own set of challenges, especially when it comes to liability, insurance, and tax implications. Unlike these little turtles who will grow their own protective shell, vacation rental [...]
After updating his estate plan with DeAngelis Legal, a client inquired about alternatives for dealing with an irrevocable trust created by a prior law firm. DeAngelis Legal worked with the client to flush out his core concerns and objectives for his family, reviewed the trust instrument and applicable law to find alternatives and worked with [...]
Ultra-high net worth couple with long standing family-owned Arizona business struggled for years to complete their estate planning. Three different law firms tried and failed over the years to update their estate plan. DeAngelis Legal assisted the clients review their current assets and irrevocable trusts, discussed their objectives and alternatives, drafted the plan that incorporated [...]
Employer and employees desired to create an offshoot business separate and apart from the employer’s current business. DeAngelis Legal assisted the parties with creating a new LLC and a comprehensive operating agreement governing control, voting rights and transferability of the ownership interests in the new entity.
Estate Planning Update July 2025 2025 Annual Gift Tax Exclusion: increased to $19,000 per donor, per donee. 2025 Gift and Estate Tax Exemption: increased to $13,990,000 per donor through 2025 (an increase of $380,000). See paragraph 6 below. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 2025 Generation Skipping Tax Exemption: increased to $13,990,000 [...]
Spring and summer bring weddings, and for law firms, requests to prepare marital agreements. Spouses in successful marriages enter into marital agreements which clarify the rights and obligations of the parties during marriage and upon death or divorce. The stigma surrounding these types of agreements is fading, with the young and old seeking to clarify [...]
Scottsdale client is entertaining the sale of a medical practice. DeAngelis Legal assisted the client with the review, negotiation and preparation of “standard” nondisclosure agreements from interested parties. We were able to identify the non-standard terms which had a potentially negative impact on the client's business and successfully negotiated alternative terms that satisfied all parties.
Long time snowbirds decided to make Arizona their primary residence and re-engineer their estate plan. What made this plan interesting is that they have assets in several states, one child running the family business and another child using other assets. DeAngelis Legal worked with the couple to clarify their objectives, balance the interests of their [...]
Business Transition Invitation 5.16.25
Net Worth and Home Ownership It starts at home. Home ownership is a cultural mainstay of personal finance in the U.S. The home is often the largest asset we see on a balance sheet of a moderately wealthy family. Unfortunately, recent appreciation in the housing market coupled with increased interest rates is causing declining housing [...]
