Falling for fall. Fall is wonderful. Harvest time. The afterglow of summer travels and the excitement of the first snowfall knowing the holidays and ski season are right around the corner. It is also a time when we audit our corporate clients to review strategic plans, make sure their corporate structure is appropriate and assure [...]
DeAngelis Legal represented a young Phoenix couple expecting their first child with their estate plan documents. The couple represents the third generation in this family that DeAngelis Legal had represented after obtaining the necessary consents and waivers of potential conflicts from the other family members, . The simple estate plan included simple wills, powers of [...]
Sometimes trust administrations are easy. DeAngelis Legal represented the beneficiary of a trust created by the beneficiary’s parents. Years of strained relations caused tension between family members, one of which was the trustee. After obtaining the documents clarifying past transactions, accounting and distribution amounts, the beneficiary signed off on the trust and received his share [...]
DeAngelis Legal reviewed the corporate records of a client who created several entities on their own. DeAngelis Legal prepared missing and updated documents necessary to satisfy the title company’s requirements. The documents included amendments to operating agreements, member consents and a deed.
DeAngelis Legal prepared a comprehensive cohabitation and premarital agreement for a Scottsdale physician. The agreement provided for terms upon which the couple would reside together and in the event they were married, modified the community property rules to achieve their intent. Significant issues addressed included the disparate net worth and income of the couple, closely [...]
At its core, estate planning is setting the terms upon which assets are transitioned from a person, often a parent, to another such as a child. Without proper estate planning creating trusts for children, a parent’s assets become available to the child immediately if at the parent’s death: (a) the parent was not married to [...]
Estate Planning Update July, 2022 1. 2022 Annual Gift Tax Exclusion: increased to $16,000 per donor, per donee. 2. 2022 Gift and Estate Tax Exemption: increased to $12,060,000 per donor through 2025, see #6. 3. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 4. 2022 Generation Skipping Tax Exclusion: increased to $12,060,000 per donor [...]
June marked the end of a four year complex trust administration odyssey. This administration could have been a television show, as it had every intrigue you can imagine - power struggles, illiquid assets, environmental claims, a defunct closely held business with unpaid claims, an injunction preventing the sale of real estate, property tax claims, third [...]
DeAngelis Legal advised long time Scottsdale clients on appropriate IRA beneficiary designations. After the 2017 Tax Act, non-spouse beneficiaries can no longer take distributions over their lifetime and in most cases must take all distributions within 10 years of the account owner’s death. This makes planning for large retirement accounts difficult, especially when you see [...]
DeAngelis Legal prepared the estate plan for a young couple with generational wealth. This project was made more complicated by one spouse’s interest in four irrevocable trusts and a myriad of out of state family businesses gifted from the spouse’s parents. While the couple’s planning was simple, DeAngelis Legal assisted the spouse understand her rights [...]
