Unfortunately, divorce is a fact of life and has a significant impact on the legal rights of the spouses. In addition to changing their status on Facebook, spouses need to consider the impact the divorce will have on their estate plan. In this matter, DeAngelis Legal discussed the impact on the estate plan post-divorce, offered [...]
New Scottsdale client relocating from Nevada asked DeAngelis Legal to review her estate plan documents prepared by a firm in Nevada. The sophisticated estate tax plan included a revocable trust, irrevocable trust and family limited partnership. DeAngelis Legal provided a summary of the documents and recommendations. After reviewing the suggestions with the client, DeAngelis Legal [...]
“It’s not personal, it’s just business.” This often used phrase is utilized in a variety of contexts, often to justify some extreme unsupported negotiation position or rationalize an unreasonable result. However, it is plain wrong; business is personal. Business owners who fail to recognize this limit their success and risk losing their investment, goodwill or [...]
The COVID-19 Christmas waive hit Arizona hard and it showed up in the number of new probate and trust administration files being opened. From easy informal probates of signed wills, to intestate estates for those that failed to sign a valid will to complex trust administrations, DeAngelis Legal has been advising numerous trustees and beneficiaries [...]
The new year kicked off strong on the business side. DeAngelis Legal assisted several clients with start-up entities, evaluating investments in venture capital opportunities and the formation of real estate holding companies. The real estate acquisitions ranged from single family lots to commercial buildings and the business ranged from online products and services to construction [...]
Here are our Top 7 Tips for Estate Planning this year: Review K-1s and 1099s. These documents should show your trust or you as trustee or its abbreviation “TR.” If not, the asset is most likely title in your individual name and should be transferred to the trust. This is especially true if the asset [...]
Estate Planning Update January, 2021 2021 Annual Gift Tax Exclusion: remains at $15,000 per donor, per donee. 2021 Gift and Estate Tax Exemption: increased to $11,700,000 per donor through 2025, see #8. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2021 Generation Skipping Tax Exclusion: increased to $11,700,000 per donor through 2025, see #8. Top [...]
Assisted high net worth Paradise Valley family with the overhaul of their estate plan. Their current plan was outdated. DeAngelis Legal had several meetings with parents, provided alternatives for their desire to take advantage of current estate and property tax laws to minimize taxes, provide for future generations and protect the wealth from creditors. In [...]
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, [...]
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.
