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 [...]
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 [...]
“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 [...]
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 [...]
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 [...]
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 [...]
DeAngelis Legal’s pandemic planning for businesses is a list of topics you should address in light of the COVID-19 outbreak. For individual topics see Pandemic Planning for Individuals. CARES Act for Businesses. The CARES Act has significant financial benefits for businesses, including employee retention credits, payroll tax deferral, pension funding deferral and income tax relief. A [...]
DeAngelis Legal's pandemic planning for individuals is a list of topics you should address in light of the COVID-19 outbreak. For topics related to businesses see Pandemic Planning for Businesses. CARES Act for Individuals. The CARES Act has many provisions benefiting individuals. These pandemic planning topics are wide ranging from the much discussed rebates, to lesser [...]
Quinn DeAngelis was re-certified as an Estate and Trust Law Specialist for another five years by the Arizona State Bar Board of Legal Specialization. Quinn is one of only seven lawyers in Scottsdale currently holding the Estate and Trust Law specialization designation. From the State Bar of Arizona’s website: “Being a certified legal specialist is [...]
Represented long time ultra high net worth clients with an overhaul of their estate plan. Husband and wife engaged DeAngelis Legal over 20 years ago to assist with their estate planning and amended the plan periodically over the years to account for changes in their family wealth. They desired to amend their plan to update [...]
