Probate & Estate Planning

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Does your estate plan look like this old mine? The pieces are there, but you just don’t know if it is going to work. Not all things stand the test of time, and that includes estate plans.
Is it time to review your estate plan?
DeAngelis Legal has updated and administered estate plans drafted before 2017 and a few common issues have arisen.  These issues include:
1. You can’t find the originals.
The original documents (or signature pages) are missing. The probate court will not accept copies, therefore we will be required to open a formal probate if the originals…
Continue Reading Is it time to review your estate plan?

You don’t have to go into great detail; giving them the highlights can go a long way toward avoiding confusion and a family fight after your death.

Last summer, in “

Equipping Your Successor Trustee or Personal Representative

,” we outlined the benefits of notifying your estate administrator – perhaps one of your adult children – that you have named them to serve in that role and how to locate the documents they will need to carry out their duties.

While we stand by our suggestions, we also endorse a November 2024

Wall Street Journal

article, “

Warren Buffett Talks …
Continue Reading Telling Your Adult Kids About Your Estate Plan

In the January/February 2025 issue of Az Business magazine, Brandon Keim, Lisa Reilly Payton, and T.J. Ryan are featured as “Top 100 Lawyers in Arizona.” Click here to read the article. Afsanieh Rassti was also selected as a “Top 50 Emerging Leaders.”
The post Brandon Keim, Lisa Reilly Payton, and T.J. Ryan are featured in the 2025 “Top 100 Lawyers in Arizona” by Az Business magazine appeared first on Frazer Ryan Goldberg & Arnold, LLP.
Continue Reading Brandon Keim, Lisa Reilly Payton, and T.J. Ryan are featured in the 2025 “Top 100 Lawyers in Arizona” by Az Business magazine

The new year 2025 marks the entrance of Bouman Law Firm into the A/I digital age.  I am intentionally pursuing ways to integrate the use of LawY technology into my law practice.  There is much to explore about how to use A/I for legal research and customized drafting assistance, but I am excited to begin the process.  LawY blends cutting-edge A/I technology with human expertise in a manner that I believe will continue to improve the premium experience we offer to our clients. -Tom
Continue Reading Ready for the A/I digital age

Estate Planning Update
January 2025

  • 2024 Annual Gift Tax Exclusion: increased to $19,000 per donor, per donee.
  • 2024 Gift and Estate Tax Exemption: increased to $13,990,000 per donor through 2025 (an increase of $380,000). See paragraph 6 below.
  • Marital Deduction for Transfers to U.S. Spouse: remains unlimited.
  • 2024 Generation Skipping Tax Exemption: increased to $13,990,000 per donor through 2025. See paragraph 6 below.
  • Top rate for Federal Estate, Gift and Generation Skipping Taxes: 40%.
  • National Topics:
    • The current Gift and Estate Tax Exemption is doubled to get to the amounts set forth above. The incoming administration has promised to extend

    • …
    Continue Reading January 2025 Estate Planning Update

    On December 4, 2024, we reported a December 3, 2024, decision of the District Court for the Eastern District of Texas imposing a NATIONWIDE INJUNCTION against the enforcement of the reporting requirements of the Corporate Transparency Act.  We ended with a “Stay Tuned” for updates.  As expected, the Government appealed […]
    The post Corporate Transparency Act Blocked Again appeared first on Frazer Ryan Goldberg & Arnold, LLP.
    Continue Reading Corporate Transparency Act Blocked Again

    On Dec. 26, 2024, the US Court of Appeals for the Fifth Circuit reinstated the nationwide preliminary injunction that enjoins enforcement of the Corporate Transparency Act (“CTA”), including the filing deadlines thereunder. The Fifth Circuit’s Dec. 26th order vacates the December 23rd order that had stayed the nationwide preliminary injunction pending the government’s appeal on the merits.   The ruling effectively postpones the enforceability of the CTA and its reporting requirements.
    Further Hearings Necessary
    The Fifth Circuit determined that there was no harm in continuing the injunction until there was a full hearing on the merits of whether the new law…
    Continue Reading CTA Compliance Update #3

    On December 23, 2024, a three-judge panel of the Fifth Circuit Court of Appeals stayed the lower court’s nationwide injunction against the Corporate Transparency Act (“CTA”). The ruling effectively revives the immediate enforceability of the CTA and its reporting requirements.
    Just three weeks prior, on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction that temporarily  blocked the enforcement of the CTA its reporting rule (“Reporting Rule”). This ruling effectively halted the requirement for reporting companies to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) despite the impending…
    Continue Reading CTA Compliance Update #2

    The Internal Revenue Service has released the annual tax inflation adjustments for 2025. For detailed information on adjustments and changes that will impact taxpayers when filing their 2026 tax return, please read the Revenue Procedure 2024-40. According to the Internal Revenue Service, there are several notable adjustments for 2025. Some […]
    The post Annual Inflation Adjustments for 2025 appeared first on Frazer Ryan Goldberg & Arnold, LLP.
    Continue Reading Annual Inflation Adjustments for 2025

    Frazer Ryan Goldberg & Arnold, LLP, a leading Arizona based law firm, is pleased to announce that Brandon Keim and Lisa Reilly Payton have been featured in AZ Big Media’s Az Business Leaders 2025. Az Business Leaders is an annual publication that profiles the business leaders and innovators that are changing […]
    The post Brandon Keim and Lisa Reilly Payton Featured in Az Business Leaders 2025 appeared first on Frazer Ryan Goldberg & Arnold, LLP.
    Continue Reading Brandon Keim and Lisa Reilly Payton Featured in Az Business Leaders 2025

    Beginning January 1, 2025, the transaction privilege tax (TPT) applicable to the rental of real estate for residential purposes (residential rental) is eliminated. Before its elimination, the residential rental TPT was reported and collected for long-term lodging stays of 30 days or more. Owners must continue to collect, file, and […]
    The post Arizona Tax Alert: Residential Rental Tax Eliminated Beginning January 1, 2025 appeared first on Frazer Ryan Goldberg & Arnold, LLP.
    Continue Reading Arizona Tax Alert: Residential Rental Tax Eliminated Beginning January 1, 2025

    The Corporate Transparency Act dominated our days in November as clients dissolved unused entities, updated current entities and considered changes to their corporate structure.  Making sure each entity’s records conformed with the records of the Arizona Corporation Commission and Secretary of State’s office turned out to be a larger project than most anticipated.  In the end, a Texas court placed a nationwide injunction on enforcement of the Act.  For more on that lawsuit see CTA Injunction Update.  For those businesses that have not complied, it gives us additional time to gather the information and clean up entities, making it…
    Continue Reading November Corporate Transparency Act

    Long time Phoenix entrepreneurs started a new business venture and engaged DeAngelis Legal to assist with the preparation of a comprehensive operating agreement between the current owners and a phantom stock incentive plan for key employees.  The operating agreement contained transfer restrictions, modified voting rights, buy-out provisions upon death, disability, bankruptcy and deadlock, a mechanism for determining the purchase price and a funding plan. The phantom stock plan and grant documents created a pool of funds upon the sale of the company through which employees could receive incentive compensation.  The documents also provided for a vesting period for employees.
    The…
    Continue Reading November Operating Agreement and Phantom Stock Plan

    Power in the wrong hands can lead to chaos, and some personal representatives take full advantage. When misconduct creeps in, beneficiaries lose money, time, and peace of mind. If something feels off, don’t ignore it—watch for these top 10 signs of personal representative misconduct in Arizona.

    • Funds Vanishing: Bank accounts are draining or money is mysteriously disappearing—clear signs of potential theft, financial exploitation, or other financial misconduct.
    • Major Delays: Important deadlines are missed, and estate settlement or administration is endlessly stalled—this can signal negligence or intentional stalling.
    • No Transparency: The personal representative refuses to provide information or disclose estate

    …
    Continue Reading Top 10 Red Flags: Is Your Personal Representative Misbehaving?

    When a loved one becomes incapacitated, the uncertainty can feel confusing and daunting. Knowing the right steps to take can mean the difference between chaos and control. Below are the ten critical actions (and a bonus tip) you should consider first to protect your loved one’s well-being and safeguard their legal rights in Arizona.

    •  Assess Medical Needs: Obtain immediate medical attention to stabilize your loved one’s health and understand their condition.  Seek and maintain appropriate care.
    •  Secure Important Documents: Gather essential documents like powers of attorney, living wills, trusts, and healthcare directives to understand their wishes

    …
    Continue Reading 10 Key Tasks When a Loved One Becomes Incapacitated in Arizona

    On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily blocking the enforcement of the Corporate Transparency Act (“CTA”) and its reporting rule (“Reporting Rule”). This ruling effectively halts the requirement for reporting companies to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) despite the impending January 1, 2025 deadline for reporting companies formed prior to 2024 to comply with the CTA.
    The Court’s Ruling
    The court’s decision was based on its assessment that the CTA and the Reporting Rule likely violate constitutional protections and likely exceeded…
    Continue Reading Corporate Transparency Act Update