High net worth Scottsdale couple sought assistance with creating a structure and strategy to make lifetime gifts to their children.  DeAngelis Legal advised the clients on the varying interests of their children in the family business and income and estate tax issues.  We also worked with the client’s bookkeeper, accountant and banker to design, draft and implement the plan to achieve the client’s objectives.
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Long time corporate client asked DeAngelis Legal to review a detailed letter of intent from a potential purchaser.  DeAngelis Legal advised the client regarding its terms and revised the agreement to incorporate the client’s desires.  We also updated the entity’s records so they were up to date if a transaction occurs.
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Long time high net worth Arizona based client desired to make large lifetime gifts to his children.  DeAngelis Legal advised the client regarding funding, control and use of the gifts to take advantage of the new 2026 estate tax exemptions, protect the assets from the children’s creditors and control the disposition of the funds.  We worked with the client’s accountant and investment advisors regarding the terms of the plan and drafted the irrevocable trusts implementing the gifting strategy.
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Mom died leaving various real estate investments to her children in trust.  The children were also named as co-trustees.  Unfortunately, mom made pre-death transfers to some of the children.  The co-trustees engaged DeAngelis Legal to assist them to sort out the issues with these transfers.  The issues addressed included:  (1) determining if the pre-death transfers were gifts, compensation for services or titled in the children’s name for convenience only, (2) whether the property received a step-up in basis, (3) whether the assets should be held by the trust or the children individually, and (4) fairly allocating the remaining real estate…
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Quinn sailed from Ecuador to French Polynesia, a 3,000-mile trip across the Pacific.  Sailing 24 hours a day for 19 days chasing the Southern Cross and other constellations took its toll on him, but he returned refreshed and ready to go.  Interestingly, Quinn attributes his longevity in the demanding practice of law to these “relaxing” adventures.  He sure looks a little too relaxed in this photo as the sun (and storm) rise behind him.
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DeAngelis Legal performed a five-year review of a current high net worth Scottsdale couple’s estate plan in connection with the 2025 estate tax changes.  After the review, the couple identified several areas that they desired to change, including the distribution scheme and lifetime gifting.  DeAngelis Legal prepared the updated estate plan documents and implemented the revised plan.
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Corporate client in Phoenix desired to create a new construction company with a minority owner.  DeAngelis Legal formed the entity and integrated the entity into their estate plan structure and advised the client with the selection of the type of entity, tax characterization and the terms of operating agreement.  We also drafted the formation documents.
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Young new client from Chandler engaged DeAngelis Legal to assist with the review and analysis of a premarital agreement with her fiancé.  DeAngelis Legal performed a comprehensive review of the terms of the agreement, provided recommendations and negotiated the terms with other spouse’s counsel.  We applaud this young couple’s commitment to communicating, resolving and documenting their financial expectations.  We hope the agreement gives them the freedom to enjoy a long and happy marriage.
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Retiring owner of a Scottsdale business desired to sell her closely held LLC interest, triggering the buy-sell provisions of the operating agreement.  DeAngelis Legal assisted the manager of the LLC to comply with the terms of the operating agreement and prepare the necessary documents implementing the transaction.
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Widower in Phoenix died leaving three children as beneficiaries.  Unfortunately, the widower made commitments benefiting one child over the others but failed to properly document the commitments.  The trustee engaged DeAngelis Legal to assist him with the administration and resolve the conflicting interests of the siblings.  In a refreshing result, the siblings were able to come to an agreement regarding the allocation of the assets through a non-judicial settlement agreement, despite one sibling receiving a substantial asset.  The agreement allowed the trustee to move forward with the administration and maintain relationships with all family members.  Win, win, win.
The post…
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Because the values of a married couple’s estate and the amount of the estate tax exemption change over time, estate planners commonly use formulas in a will or trust to avoid inadvertently triggering an estate tax on the first spouse’s death.  These formulas divide a deceased person’s assets between a marital share which qualifies for the unlimited marital deduction and a non-marital share which uses the deceased spouse’s estate tax exclusion amount to pass the decedent’s assets estate tax free.
There are three types of formulas: a Pecuniary Marital, a Fractional Share and a Pecuniary Credit.    Each formula has its…
Continue Reading Formula Clauses – The Fundamentals

You have the power (maybe).
Financial powers of attorney allow you (the principal) to appoint someone you trust (the agent) to perform certain acts related to your financial affairs on your behalf.  These instruments have a variety of uses, but are often used in the estate planning industry in in conjunction with, or in lieu of, a trust or conservatorship to facilitate the administration of your financial affairs if you become incapacitated.
There are several types of financial powers of attorney (POA), primarily categorized by their terms.  It is very important to review the terms of the instrument and not…
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Because the values of a married couple’s estate and the amount of the estate tax exemption change over time, estate planners commonly use formulas in a will or trust to avoid inadvertently triggering an estate tax on the first spouse’s death.  These formulas divide a deceased person’s assets between a marital share which qualifies for the unlimited marital deduction and a non-marital share which uses the deceased spouse’s estate tax exclusion amount to pass the decedent’s assets estate tax free.
There are three types of formulas, a Pecuniary Martial, a Fractional Share and a Pecuniary Credit.    Each formula has its…
Continue Reading Formula Clauses – Digging into the Details