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 [...]
Trust Administration Administrating a trust post-death should be as easy as your successor trustee accepting the responsibility for the trust, taking control of the assets, satisfying creditors and following the trust’s distribution provisions. Unfortunately, we are seeing longer administration times, most of which could have been greatly reduced with minimal upfront planning. Recent examples we [...]
Represented beneficiary with respect to his interest in irrevocable trust. Beneficiary’s late spouse left her assets in trust for surviving spouse. DeAngelis Legal analyzed trust terms, explained terms and alternatives to beneficiary and prepared the documents necessary to exercise beneficiary's rights to without amending or terminating the trust.
October was the month of trust and estate administration. DeAngelis Legal assisted several different families with the administration of irrevocable trusts in Scottsdale, the filing of a formal probate of a copy of a will in Maricopa County and in informal probate of a murder victim’s intestate estate in Mohave County.
Represented sibling with the administration of sister’s simple trust. DeAngelis Legal assisted sibling satisfy the legal requirements as successor trustee of the trust, including notices to beneficiaries and creditors and other administration issues.
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 [...]
Assisted three separate surviving spouses with the administration of their trusts. After the death of their spouses, each of their revocable trusts became irrevocable, necessitating the allocation of assets between trusts. DeAngelis Legal assisted each spouse to satisfy the requirements of successor trustee under Arizona law, took actions to minimize risk of future claims by [...]
