Love was in the air this holiday season as we drafted, negotiated and signed three marital agreements, two for newlyweds and one for a couple in a long-term marriage. In each case DeAngelis Legal worked with the parties and their family law attorneys to resolve issues regarding jointly held property, spousal maintenance and death. Hopefully [...]
Ultra-high net worth client entered into negotiations to sell his business. The business’s attorneys handled the transaction documents, but DeAngelis Legal assisted the client to evaluate various transaction structures to reduce or defer income taxes on the transaction. After reviewing the alternatives, DeAngelis Legal created a new entity and other documents implementing the structure.
High net worth widow knew how she wanted her estate plan handled at death, but was not confident her estate planning attorney understood her desires and therefore had not updated her estate plan in years. After an in-depth review of her finances and objectives, DeAngelis Legal proposed a comprehensive estate plan which achieved her goals [...]
Recent empty nesters from Scottsdale desired to update their estate plan. DeAngelis Legal met with the couple and answered questions regarding their objectives and preferences. The couple preferred a simple plan designed to avoid probate upon incapacity or death and provide the structure for the outright distribution to their children. DeAngelis Legal drafted a basic [...]
Client and friends created a new restaurant concept and engaged DeAngelis Legal to form the entity. After reviewing the alternatives, DeAngelis Legal created a new LLC and a comprehensive operating agreement detailing capital contributions, management, ownership and dispute resolution provisions incorporating the parties compensation framework they had agreed upon. Kudos to the parties for resolving [...]
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 [...]
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 [...]
Beneficiary of irrevocable trust unexpectedly filed for bankruptcy. Trustee engaged DeAngelis Legal to review the trust and Arizona law to determine if the trust’s assets were subject to the bankruptcy trustee’s control. In Arizona, the general rule is that a court may reach the assets of the trust for the benefit of the beneficiary. However, [...]
New high net worth client from Phoenix engaged DeAngelis Legal to update his estate plan documents. The client had created an irrevocable trust with his prior estate planning attorney. The trust was for the benefit of his children and grandchildren in an attempt to use his annual exclusion gifts and named a third-party trustee. However, [...]
Family business engaged DeAngelis Legal to assist with the complete overhaul of their corporate records, including a comprehensive operating agreement for the operating business and various investment entities. DeAngelis Legal reviewed the current structure, interviewed family members and drafted documents implementing the family’s intent.
