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November 2020 Probate and Trust Adminstration

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, [...]

By |2020-12-04T16:50:18-07:00December 15th, 2020|Recent Projects, Probate and Trust Administration, Estate Planning, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 Probate and Trust Adminstration

November 2020 LLC Operating Agreement Review

Assisted new client with the review and negotiation of a operating agreement for a closely held company.  DeAngelis Legal provided comments and recommendations as well as sample provisions for updating the agreement incorporating Arizona's new LLC Act.

By |2020-12-04T16:50:58-07:00December 15th, 2020|Entity Formation, Recent Projects, Business Services, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 LLC Operating Agreement Review

November 2020 Estate Tax Planning

Assisted long time high net worth Scottsdale couple with the review and analysis of their complex estate plan.  DeAngelis Legal reviewed their current plan, updated tax projections based on various scenarios and provided various recommendations for utilizing their remaining gift, estate and GST tax exemptions.  DeAngelis Legal is also preparing the additional spousal lifetime access [...]

By |2020-12-04T16:51:15-07:00December 15th, 2020|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on November 2020 Estate Tax Planning

October 2020 Estate Planning

DeAngelis Legal spent a considerable amount of time in October evaluating and coordinating large transfers for clients.  In reviewing the numbers, clients over the age of 80 with a taxable estate substantially over the Federal Gift and Estate Tax exclusion ($11,580,000 per spouse) were the most likely to make such transfers, while younger clients seemed [...]

By |2020-11-23T16:58:30-07:00November 15th, 2020|Federal Estate Tax, Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on October 2020 Estate Planning

2020 Election Impact on Estates and Trusts

We continue to monitor the election polling and its potential impact on the estate and gift tax laws.  If the democratic party wins the Presidency and control of Congress, it is possible that (a) the planned reduction in the exemption amounts is accelerated, to as low as $3,500,000 per person, (b) the tax rate is [...]

By |2020-08-29T16:59:15-07:00August 29th, 2020|Federal Estate Tax, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on 2020 Election Impact on Estates and Trusts

July 2020 Operating Agreement

Prepared an amended and restated operating agreement between equal owners of an Arizona limited liability company.  DeAngelis Legal reviewed and evaluated owners’ objectives and prepared a compressive operating agreement that incorporated the new LLC law which applies to existing entities as of September 1, 2020.  For more on the new law see https://www.deangelislegal.com/arizonas-new-llc-act/  The operating agreement [...]

By |2020-08-29T16:49:10-07:00August 15th, 2020|Entity Formation, Recent Projects, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on July 2020 Operating Agreement

Money Makes Money

“Money makes money. And the money that makes money, makes more money.” Benjamin Franklin This centuries old quote by our founding father could not be more appropriate today. Millions of Americans are out of work, surviving on government subsidies and yet the stock market and real estate market are approaching historic highs. Those with capital [...]

By |2020-07-30T19:20:42-07:00July 23rd, 2020|Past Newsletters, Estate Planning, Succession Planning, Protecting Family Wealth, Homepage, Uncategorized|Comments Off on Money Makes Money

May 2020 Entity Formation

DeAngelis Legal formed several new entities from standard real estate holding companies to entities created to capitalize on opportunities caused by the COVID-19 outbreak.  DeAngelis Legal assisted the clients in identifying the correct entity, including the clients' perspectives on privacy, liability protection, complexity and income tax preferences.  DeAngelis Legal prepared the formation documents including articles [...]

By |2020-07-04T16:15:14-07:00June 15th, 2020|Entity Formation, Business Services, Protecting Family Wealth|Comments Off on May 2020 Entity Formation

May 2020 Estate Planning for Second Marriage

Represented a Scottsdale couple with the preparation of a comprehensive review of their estate plan.  Both spouses in this second marriage had children from their prior marriages and maintained both separate and combined finances.  DeAngelis Legal identified issues, including tax implications and inequities in their proposed structure, identified potential solutions and drafted the appropriate changes [...]

By |2020-07-04T16:06:50-07:00June 15th, 2020|Recent Projects, Estate Planning, Protecting Family Wealth|Comments Off on May 2020 Estate Planning for Second Marriage

April 2020 Estate Planning

Not surprisingly, DeAngelis Legal devoted much of the month of April preparing and finalizing estate plans for physicians, nurses and other healthcare workers in preparation for Arizona's COVID-19 outbreak.  Everything from simple wills to complex trusts, most of which was done on an expedited basis given the COVID-19 crisis.  Preparing these plans required balancing social [...]

By |2020-07-04T15:50:55-07:00May 15th, 2020|Recent Projects, Estate Planning, Protecting Family Wealth, Homepage|Comments Off on April 2020 Estate Planning