Happily, most our business clients have adjusted to the new reality of 2020 and are holding up well, with residential home building industry leading the way. This does not mean that there haven’t been casualties. Small businesses such as restaurants, bars, gyms, hotels and certain medical practices obviously have been the hardest hit. We have [...]
Time and time again we are asked to re-create the corporate records of an entity. The fire drill is ignited by the need for financing, a large asset transaction, an IRS audit, an impending sale of the business or litigation. Business owners lose their mind that these seeming inconsequential items are holding up the transaction [...]
Concerns over an impending “blue wave” of Democrats taking over the Senate caused our phones to ring in September. DeAngelis Legal spent a significant amount of time with these high net worth clients throughout Arizona describing and evaluating the best alternatives for utilizing their remaining estate tax exemptions before the end of the year. Several [...]
Represented a new client with the buyout of an investor from a closely held business in Scottsdale. DeAngelis Legal advised the buyer regarding the acquisition structure, reviewed and revised the interest purchase agreement and prepared the documents necessary to properly evidence the buyer as the sole owner of the entity going forward.
Quinn was called as witness in litigation between two owners of a closely held entity. Quinn had previously represented a party to the litigation with the review and analysis of the corporate records and identified several irregularities with the records. Unfortunately, the parties could not resolve the issues and the dispute ended up in litigation. [...]
We continue to monitor the election polling and its potential impact on the estate and gift tax laws. If the democratic party wins the Presidency and control of Congress, it is possible that (a) the planned reduction in the exemption amounts is accelerated, to as low as $3,500,000 per person, (b) the tax rate is [...]
Prepared an amended and restated operating agreement between equal owners of an Arizona limited liability company. DeAngelis Legal reviewed and evaluated owners’ objectives and prepared a compressive operating agreement that incorporated the new LLC law which applies to existing entities as of September 1, 2020. For more on the new law see https://www.deangelislegal.com/arizonas-new-llc-act/ The operating agreement [...]
July marked our first confirmed trust administration of a COVID-19 related death. Several members of the family contracted the disease and unfortunately, the father died. The Scottsdale couple were long time clients of the firm and the death surprised everyone. DeAngelis legal prepared the initial trust package with the required documents, including the acceptance of [...]
“Money makes money. And the money that makes money, makes more money.” Benjamin Franklin This centuries old quote by our founding father could not be more appropriate today. Millions of Americans are out of work, surviving on government subsidies and yet the stock market and real estate market are approaching historic highs. Those with capital [...]
Assisted Scottsdale buyer with the purchase of a website and its software. DeAngelis Legal prepared the asset purchase agreement including provisions necessary to transfer components unique to websites, including software, copyrights, third party licenses, and content and other provisions to protect the buyer such as restrictive covenants and representations. For more information on structuring mergers [...]
