The grey divorce trend hits Arizona. Common themes include the kids are off to college or living on their own, the family business is sold or managed by others or the couple simply wants to go a different direction. No animosity, but the legal divorce means a total reset to each person’s estate plan. Issues [...]
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 [...]
Client previously sold its operating business in better economic times, but the buyer couldn’t perform and ultimately liquidated the business. DeAngelis Legal assisted the client with the delicate multiparty negotiations (landlord, bank, trade creditors) to re-quire the assets of the business, prepared the documentation evidencing the purchase of the assets and closed the re-acquisition of [...]
Long time clients came in for their five year estate plan review and stated that they were contemplating additional financial gifts to their children. However, they had not addressed important issues regarding this complex and emotional decision. Persons contemplating gifts should ask a few important questions, including: Do you have sufficient capital and resources for [...]
It happened again! Successful, smart, responsible Scottsdale couple signed well drafted estate plan documents with another law firm and after signing, promptly threw the documents in a drawer. Fast forward 10+ years, numerous asset acquisitions in their individual names and an unexpected death, the surviving spouse engaged DeAngelis Legal to sort out the mess. DeAngelis [...]
New client engaged DeAngelis Legal to review the proposed premarital agreement with a wealthier spouse. DeAngelis Legal advised the client on his rights and obligations post-marriage and provided changes to the agreement which gave each party the protections they desired, but made the terms easier to implement. DeAngelis Legal worked with the spouse’s attorney to [...]
US Treasury Department Release On March 2, 2025, the United States Treasury Department announced that that it will not enforce any penalties or fines associated with the beneficial ownership reporting rule under the existing regulatory deadlines (currently March 21, 2025) pertaining to the Corporate Transparency Act (“CTA”). Furthermore, it announced that it will not enforce [...]
On February 17, 2025, the U.S. District Court for the Eastern District of Texas granted a Department of Justice request for a stay of the court’s nationwide injunction which had temporarily blocked the enforcement of the Corporate Transparency Act (“CTA”) and its reporting rule (“Reporting Rule”). This ruling effectively revives, again, the requirement for reporting [...]
New Scottsdale client engaged DeAngelis Legal to assist with changes to her estate plan, which included an irrevocable trust. The joint trust created with her deceased husband contained provisions dividing the trust principal into a Survivor’s Trust and a Family Trust, with the later being irrevocable. After reviewing her alternatives, DeAngelis Legal prepared a Non-judicial [...]
