You have the power (maybe). Financial powers of attorney allow you (the principal) to appoint someone you trust (the agent) to perform certain acts related to your financial affairs on your behalf. These instruments have a variety of uses, but are often used in the estate planning industry in in conjunction with, or in lieu [...]
Because the values of a married couple’s estate and the amount of the estate tax exemption change over time, estate planners commonly use formulas in a will or trust to avoid inadvertently triggering an estate tax on the first spouse’s death. These formulas divide a deceased person's assets between a marital share which qualifies for [...]
Estate Planning Update January 2026 2026 Annual Gift Tax Exclusion: remains $19,000 per donor, per donee. 2026 Gift and Estate Tax Exemption: increased to $15,000,000 per person this year (an increase of $110,000 per individual or $220,000 for a married couple) and made permanent. See paragraph 6(a) below. Marital Deduction for Transfers to U.S. Spouse: [...]
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.
