Winter deaths caused several trusts to become irrevocable and new trustees taking over. DeAngelis Legal advised the new trustees regarding their new duties and responsibilities, drafted the initial paperwork to transfer control, published notice to creditors to shorten the claims period and obtained tax identification numbers for the new trusts. All estates have avoided probate [...]
DeAngelis Legal created another non-judicial settlement agreement modifying the terms of an irrevocable trust. Decedent died before updating his estate plan, an all-too-common occurrence, leaving the beneficiaries of his trust to piece it together and work out the details themselves. DeAngelis Legal prepared the settlement agreement, modifying the decedent’s trust to conform with his intentions [...]
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 with the trust decanting of an irrevocable trust. We prepared the new trust instrument which holds a variety of closely held businesses, real estate entities and marketable securities. The old instrument was prepared by another law firm and its terms did not meet with the settlors’ intent. DeAngelis Legal worked with the [...]
Scottsdale couple transferred their personal residences to several irrevocable Qualified Personal Residence Trusts (QPRTs) under the advice of prior counsel. Clients now desired to unwind the transactions. DeAngelis Legal reviewed the facts, trust documents and client’s objectives in order to propose alternatives for terminating the QPRTs in conjunction with the client’s tax and accounting professionals. [...]
Another irrevocable trust bites the dust. Surviving spouse failed to fund the bypass trust upon her husband’s death. Trustee engaged DeAngelis Legal to negotiate and draft a non-judicial settlement agreement between the trustees and beneficiaries. The agreement provided for a revised allocation of the assets upon the surviving spouse’s death and a release of claims [...]
Represented wealthy Phoenix couple with large lifetime gift to their child in trust. DeAngelis Legal worked with the clients, their investment advisors and CPA to design an irrevocable trust that met the client’s objectives and minimize estate taxes. They desired to remove the assets from their taxable estate, have a third party responsible for the [...]
Represented newly married Scottsdale spouse to design, draft and implement a comprehensive estate plan, which included the beneficial interests in several irrevocable trusts and other family assets. DeAngelis Legal worked with the client, the family’s bank and other advisors to create a plan that protected inherited assets and provided financial support to the new spouse [...]
Represented trustees with administration of a multi-million dollar trust. Trustees desired to protect beneficiaries and provide for continued management of the trust's assets. DeAngelis Legal worked with the trustees, beneficiaries and successor co-trustees, including adding a corporate trustee, to resolve the issues and document the transition and ongoing management plan. The plan included decanting the terms of [...]
