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 [...]
An increase in deaths in Arizona over the winter caused an increase in probate and trust administration. DeAngelis Legal continued to provide assistance to family members with these administrations from the preparation of simple Affidavit of Small Estates and Informal Probates to more complex situations requiring Formal Probates and difficult trust administrations. Each situation is [...]
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 [...]
DeAngelis Legal represented a Scottsdale estate planning client with the decanting of his parent’s irrevocable trust. The client is a current beneficiary of the trust, but wanted to clarify the terms upon which his children as secondary beneficiaries would receive its assets, especially because one child had special needs. DeAngelis Legal prepared the new trust [...]
DeAngelis Legal assisted two new clients to open informal probate to transfer assets out of the deceased person’s name. In both situations, the deceased person failed to transfer the asset to their trust and the account custodian (one a financial institution and the other a title company) required “Letters of Personal Representative” before they would [...]
DeAngelis Legal negotiated the terms of the letter of intent and purchase documents and assisted the closing of the sale of the business of a long time corporate client in Phoenix. DeAngelis Legal had represented the entity since formation over 20 years ago. Over the years, DeAngelis Legal provided advice on a variety of business [...]
DeAngelis Legal assisted a long time Mesa client with the sale of her interest in a medical practice to her partner. After many years of discussing alternatives, the parties came to terms. DeAngelis Legal advised the seller on the terms and structure, prepared draft documents and negotiated changes requested by the buyer’s attorney and assisted [...]
Earlier this year Quinn volunteered to pack food boxes at St. Mary’s Food Bank and was impressed with their mission and operations. Currently, 1 in 4 Children live in poverty, and food insecurity rates are nearing 30% in Arizona. This holiday season DeAngelis Legal has teamed up with the St. Mary’s Food Bank to fight [...]
DeAngelis Legal created several new entities this month in a variety of industries. A couple corporations and several limited liability companies (LLCs). The proper choice of entity and its proper tax character (c-corporation, s-corporation, partnership or disregarded entity) is largely driven by liability protection, the entity’s purpose and industry (i.e., real estate holding company, operating [...]
DeAngelis Legal assisted a Sedona high net worth couple with a comprehensive review of their estate planning documents, including their wills, trust, and family limited partnership. DeAngelis Legal met with the couple to learn about their objectives, reviewed their current plan and made recommendations, prepared documents updating their plan to make it consistent with their [...]
