Miami partner Patrick Lannon recently co-authored an article for The Florida Bar Journal titled “Protecting an Inheritance in the Event of Divorce.”
Patrick describes estate planning techniques for clients who would like for the inheritance to be kept in the family line and out of the hands of their descendants’ creditors. Additionally, Patrick goes into further detail about transmutation risk, offset risk, alimony risk, privacy risk, and restructuring existing planning to reduce risk.
In conclusion, Patrick explains that each client should consider the various ways gifted assets are taken into consideration or otherwise affect a divorce proceeding and should work with his or her advisors to craft an appropriate plan in each circumstance.
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About Patrick J. Lannon
Patrick J. Lannon is a partner with the Miami office of Shutts & Bowen LLP, where he is a member of the Private Client Services Practice Group. Patrick is Florida Bar Board Certified in Wills, Trusts and Estates. Patrick represents high-net-worth individuals both domestic and international with their estate, asset protection, and charitable planning with a focus on integrating family wealth transfer goals with sophisticated business succession, income, and estate tax planning strategies. He also assists personal representatives, trustees, and beneficiaries with estate and trust administration and advises fiduciaries and beneficiaries in contested or potentially contested trust and estate matters.