Ultra-high net worth couple with long standing family-owned Arizona business struggled for years to complete their estate planning. Three different law firms tried and failed over the years to update their estate plan. DeAngelis Legal assisted the clients review their current assets and irrevocable trusts, discussed their objectives and alternatives, drafted the plan that incorporated [...]
Employer and employees desired to create an offshoot business separate and apart from the employer’s current business. DeAngelis Legal assisted the parties with creating a new LLC and a comprehensive operating agreement governing control, voting rights and transferability of the ownership interests in the new entity.
Beneficiary of irrevocable trust unexpectedly filed for bankruptcy. Trustee engaged DeAngelis Legal to review the trust and Arizona law to determine if the trust’s assets were subject to the bankruptcy trustee’s control. In Arizona, the general rule is that a court may reach the assets of the trust for the benefit of the beneficiary. However, [...]
Co-trustees, who were also primary beneficiaries, engaged DeAngelis Legal to assist with the administration of their parent’s trust. Unfortunately, their parents had not transferred all assets to the trust. DeAngelis Legal assisted the trustees with the documentation necessary to obtain control over all assets of the trust without the need for probate through the Affidavit [...]
New high net worth client from Phoenix engaged DeAngelis Legal to update his estate plan documents. The client had created an irrevocable trust with his prior estate planning attorney. The trust was for the benefit of his children and grandchildren in an attempt to use his annual exclusion gifts and named a third-party trustee. However, [...]
Family business engaged DeAngelis Legal to assist with the complete overhaul of their corporate records, including a comprehensive operating agreement for the operating business and various investment entities. DeAngelis Legal reviewed the current structure, interviewed family members and drafted documents implementing the family’s intent.
Spring and summer bring weddings, and for law firms, requests to prepare marital agreements. Spouses in successful marriages enter into marital agreements which clarify the rights and obligations of the parties during marriage and upon death or divorce. The stigma surrounding these types of agreements is fading, with the young and old seeking to clarify [...]
Scottsdale client is entertaining the sale of a medical practice. DeAngelis Legal assisted the client with the review, negotiation and preparation of “standard” nondisclosure agreements from interested parties. We were able to identify the non-standard terms which had a potentially negative impact on the client's business and successfully negotiated alternative terms that satisfied all parties.
No will, no trust - more paperwork, twice! Several years ago, brother died having failed to do any estate planning. Mother and sister were left to clean up the financial mess. DeAngelis Legal assisted sister to obtain Letters of Personal Representative issued by the probate court through an informal intestate probate and successfully transferred the [...]
Arizona client required additional capital to fuel its growth. After evaluating alternatives, the client pursued a commercial line of credit. DeAngelis Legal assisted the client to evaluate the alternatives, negotiated the terms of the line of credit loan agreement, and facilitated closing.
