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…
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Estate Planning Update
January 2026

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Love was in the air this holiday season as we drafted, negotiated and signed three marital agreements, two for newlyweds and one for a couple in a long-term marriage. In each case DeAngelis Legal worked with the parties and their family law attorneys to resolve issues regarding jointly held property, spousal maintenance and death.  Hopefully the discussion about finances and the resulting agreements give each couple comfort moving forward.
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Ultra-high net worth client entered into negotiations to sell his business.  The business’s attorneys handled the transaction documents, but DeAngelis Legal assisted the client to evaluate various transaction structures to reduce or defer income taxes on the transaction.  After reviewing the alternatives, DeAngelis Legal created a new entity and other documents implementing the structure.
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High net worth widow knew how she wanted her estate plan handled at death, but was not confident her estate planning attorney understood her desires and therefore had not updated her estate plan in years.  After an in-depth review of her finances and objectives, DeAngelis Legal proposed a comprehensive estate plan which achieved her goals of protecting her family’s investments while providing for her family’s various needs.  It also solved some complex estate planning administration issues as well.  DeAngelis Legal also worked with the client and her family to design a plan that all parties understood.  DeAngelis Legal drafted the…
Continue Reading November 2025 Comprehensive Estate Plan

Recent empty nesters from Scottsdale desired to update their estate plan.  DeAngelis Legal met with the couple and answered questions regarding their objectives and preferences.  The couple preferred a simple plan designed to avoid probate upon incapacity or death and provide the structure for the outright distribution to their children.  DeAngelis Legal drafted a basic set of estate planning documents, including a simple revocable trust, wills, financial powers of attorney, healthcare powers of attorney, living wills and several implementation documents.
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Husband and wife created a standard survivor’s bypass trust, with half the assets passing to the family of each spouse.  Upon the death of the husband, this structure necessitated the valuation and allocation of the assets between the two trusts.  While the couple had plenty of liquidity, the sheer number of entities and accounts made this a daunting task.  DeAngelis Legal worked with the surviving spouse, her accountant and her financial advisor to value and allocate the assets between the two trusts.  DeAngelis Legal also prepared detailed funding instructions and prepared the necessary documents to update each entity’s corporate records…
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Client and friends created a new restaurant concept and engaged DeAngelis Legal to form the entity.  After reviewing the alternatives, DeAngelis Legal created a new LLC and a comprehensive operating agreement detailing capital contributions, management, ownership and dispute resolution provisions incorporating the parties compensation framework they had agreed upon.  Kudos to the parties for resolving these issues in advance.  We can’t wait to try the food.
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Holding Vacation Rental Homes in an LLC: Liability, Insurance, and Tax Considerations
Owning a vacation rental home can be a rewarding investment, but it also comes with its own set of challenges, especially when it comes to liability, insurance, and tax implications. Unlike these little turtles who will grow their own protective shell, vacation rental homes titled in your personal name or revocable trust do not have their own protection in Arizona.
As an owner of real estate in Arizona, you assume certain risks associated with such ownership and have a duty to properly repair and maintain the home and…
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After updating his estate plan with DeAngelis Legal, a client inquired about alternatives for dealing with an irrevocable trust created by a prior law firm.  DeAngelis Legal worked with the client to flush out his core concerns and objectives for his family, reviewed the trust instrument and applicable law to find alternatives and worked with the corporate trustee to terminate the trust, all in a timely and cost-effective manner.  In the end, the client had this to say about DeAngelis Legal:
“Having said that, the primary purpose of this email is to let you know that two mortgages are being…
Continue Reading September 2025 Irrevocable Trust Termination

Ultra-high net worth couple with long standing family-owned Arizona business struggled for years to complete their estate planning.  Three different law firms tried and failed over the years to update their estate plan.  DeAngelis Legal assisted the clients review their current assets and irrevocable trusts, discussed their objectives and alternatives, drafted the plan that incorporated legacy assets and trusts and in September successfully finalized the new estate plan.  A relief to the family and a victory for our process and team.  Congrats to all.
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Employer and employees desired to create an offshoot business separate and apart from the employer’s current business.  DeAngelis Legal assisted the parties with creating a new LLC and a comprehensive operating agreement governing control, voting rights and transferability of the ownership interests in the new entity.
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Beneficiary of irrevocable trust unexpectedly filed for bankruptcy.  Trustee engaged DeAngelis Legal to review the trust and Arizona law to determine if the trust’s assets were subject to the bankruptcy trustee’s control.  In Arizona, the general rule is that a court may reach the assets of the trust for the benefit of the beneficiary. However, the general rule does not apply to any beneficial interest that is protected by a spendthrift provision or is discretionary, making the trust assets unavailable to the beneficiary’s creditors.  This protection is another great reason to pass your assets to a properly drafted trust, rather…
Continue Reading August 2025 Trust Administration