This is Vincent J. Profaci's Typepad Profile.
Join Typepad and start following Vincent J. Profaci's activity
Join Now!
Already a member? Sign In
Vincent J. Profaci
Altamonte Springs, Florida
Attorney with over 20 years experience.
Recent Activity
The basic pleadings in any litigation are the Complaint, Answer, Affirmative Defenses, and Reply. Continue reading
Posted Oct 3, 2012 at Profaci Law Notes
Litigation clients often have a difficult time understanding why their case is not a “slam dunk”—I call this the difference between “legal reality” and “human reality”. Continue reading
Posted Oct 1, 2012 at Profaci Law Notes
A living trust is often the best way to avoid probate. Continue reading
Posted Sep 24, 2012 at Profaci Law Notes
Florida trusts should be reviewed in view of a recent Florida court decision holding that life insurance payable to a trust may lose its exemption from creditors’ claims. Continue reading
Posted Sep 16, 2012 at Profaci Law Notes
It takes strong doctors to stand up to the kind of verbal abuse that palliative care doctors have to put up with, to explain that courts and ethics committees have approved care that’s intended to reduce suffering, to point out that the patient’s own wishes are paramount. Perhaps they have to be stronger than we know. ‘The culture is changing … but it’s not changed yet. Continue reading
Posted Apr 13, 2012 at Profaci Law Notes
Your “estate plan,” however, should not be your farm’s succession plan. Succession planning is a “process” – “not an event,” … an estate plan is a piece of the process that is succession planning. Continue reading
Posted Apr 12, 2012 at Profaci Law Notes
Brooke Astor’s only son saw his inheritance slashed in half and had his control of the estate’s powerful charitable contributions stripped away as part of a settlement that ended a bitter, five-year dispute over the family’s millions. Continue reading
Posted Apr 11, 2012 at Profaci Law Notes
There’s nothing illegal about what these executives did. In fact, the Facebook registration statement and others that FORBES examined read like a playbook of how the ultra-rich and even the moderately wealthy can operate within the law to transfer vast sums and preserve assets–from the tax man and from creditors. Continue reading
Posted Apr 10, 2012 at Profaci Law Notes
“I usually root for the taxpayer, but this case was an exception. When I think it borders on the self-evident that a favorable tax plan does not work and it turns out that it does, I am very embarrassed. As it turns out the Tax Court and now the Ninth Circuit agreed with me.” Continue reading
Posted Apr 9, 2012 at Profaci Law Notes
So, how should families fortunate enough to have valuable collections decide what to do with their art or other objects? Here are some options. Continue reading
Posted Apr 6, 2012 at Profaci Law Notes
The death of a parent often shifts the family dynamic, making issues arise that appear to be based on current events but in fact are perceived slights that occurred years ago and are now playing out as the parents’ estate is doled out. Continue reading
Posted Apr 5, 2012 at Profaci Law Notes
This unusual clash highlights the risks for customers when financial companies get in trouble or change hands. That is so even in the lush world of trust banks, well known for their stability. Continue reading
Posted Apr 4, 2012 at Profaci Law Notes
“I’ve heard recently about the federal gift and estate tax window of opportunity for asset transfer, and was wondering if that impacts succession planning. Will there be greater tax benefits for me to leave the business in 2012, rather than 2013?” Continue reading
Posted Apr 3, 2012 at Profaci Law Notes
The IRS announced that taxpayers can find information about tax-exempt organizations in a new online search tool called Exempt Organizations Select Check Continue reading
Posted Mar 30, 2012 at Profaci Law Notes
It’s official. The Indiana inheritance tax is repealed for deaths after Dec. 31, 2021. Continue reading
Posted Mar 29, 2012 at Profaci Law Notes
A pet trust, which ensures care for the horse if the owner gets sick or dies, is often the best way to ensure the horse’s care. Continue reading
Posted Mar 28, 2012 at Profaci Law Notes
If you're helping out a financially stressed relative in this still-lousy economy, you may be entitled to some tax breaks. Continue reading
Posted Mar 27, 2012 at Profaci Law Notes
So as a public service to those who are coping with the same tedious chores or may soon be, the Foreman family assembled a list of stuff to do, stuff almost everyone will have to do, after a loved one dies. Continue reading
Posted Mar 26, 2012 at Profaci Law Notes
Perhaps the most powerful and common reason why the rich give is the idea most commonly referred to as “legacy.” Continue reading
Posted Mar 23, 2012 at Profaci Law Notes
Wealthy parents today face an inevitable choice: leaving boatloads of money to kids who aren’t good with money. Continue reading
Posted Mar 22, 2012 at Profaci Law Notes
A New York appeals court rules that a woman who, two years before applying for Medicaid, transferred money to a friend through joint tenancies in a claimed effort to avoid probate did not rebut the presumption that the transfers were made in order to qualify for Medicaid. Continue reading
Posted Mar 21, 2012 at Profaci Law Notes
It used to be that you would write out your will, name some trustees and hope for the best for all of eternity. But, increasingly, folks aren't leaving it to luck. They're appointing a "trust protector," someone given broad power to reshape your trust over time. Continue reading
Posted Mar 20, 2012 at Profaci Law Notes
If you have not used up your unified credit yet there is a pretty compelling case for making a large gift in 2012. Continue reading
Posted Mar 19, 2012 at Profaci Law Notes
Multinational families increasingly are turning to high-end estate and tax planners to reduce tax bills when they shift money to children living in the U.S., whether or not their kids are U.S. citizens. Continue reading
Posted Mar 16, 2012 at Profaci Law Notes
Some methods of probate avoidance have pitfalls themselves to be avoided. Continue reading
Posted Mar 15, 2012 at Profaci Law Notes