High net-worth out-of-state couple moving to Arizona desired to update their estate plan. DeAngelis Legal worked with prior advisors to create a comprehensive multigenerational estate plan that minimized income, estate and generation skipping tax considerations. The plan strikes a delicate balance between giving beneficiaries assets outright to enrich their lives versus holding assets in trust [...]
DeAngelis Legal reviewed a letter of intent for the seller of a Scottsdale based business. The letter outlined the material terms for the purchase and allowed the parties to proceed with more detailed due diligence. DeAngelis Legal clarified certain terms and provided additional language protecting the parties.
DeAngelis Legal resolved trust administration disputes between a trustee and beneficiary. Upon death, a parent set up a trust for a beneficiary naming the beneficiary’s older sibling as trustee. Over the years, the Trustee and beneficiary clashed over budgets, distributions, and reporting which adversely impacted their relationship. DeAngelis Legal advised the trustee, coordinated delivery of [...]
Worried that I might stop following him on crazy adventures, my friend Béat Koszinowski gave me the New York Times bestseller book Younger Next Year for my birthday last year. At the time, my workout regimen was fairly inconsistent, with frequent rest days, but I was constantly getting dropped on extended skiing or biking outings. [...]
DeAngelis Legal performed a comprehensive review and edit of a proposed multi-member LLC operating agreement on behalf a new client. The client asked DeAngelis Legal to provide input on the operating agreement. DeAngelis Legal provided a memo with additional questions and substantive comments and edits regarding management, capital contributions, purchase options and purchase price valuation.
DeAngelis Legal obtained Letters of Personal Representative for a trustee who identified an asset that was not transferred to the trust. The deceased participated in his employer’s stock option plan. Unfortunately, the plan failed to name a beneficiary and the employer would not transfer the asset without the Letters of Personal Representative. DeAngelis Legal prepared [...]
DeAngelis Legal represented a young Phoenix couple expecting their first child with their estate plan documents. The couple represents the third generation in this family that DeAngelis Legal had represented after obtaining the necessary consents and waivers of potential conflicts from the other family members, . The simple estate plan included simple wills, powers of [...]
DeAngelis Legal reviewed the corporate records of a client who created several entities on their own. DeAngelis Legal prepared missing and updated documents necessary to satisfy the title company’s requirements. The documents included amendments to operating agreements, member consents and a deed.
June marked the end of a four year complex trust administration odyssey. This administration could have been a television show, as it had every intrigue you can imagine - power struggles, illiquid assets, environmental claims, a defunct closely held business with unpaid claims, an injunction preventing the sale of real estate, property tax claims, third [...]
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 [...]
