As a partner in the Financial Services & Capital Markets industry team, Patrick focuses on wealth, tax, trust and estate planning; estate and trust administration; probate; privately held business and corporate planning; asset protection planning; special needs planning; and probate and trust litigation. Patrick represents business owners, professionals, executives and other individuals in their estate planning needs, and he advises fiduciaries and beneficiaries on the administration of trusts and estates to facilitate the efficient transfer of wealth. He has designed and implemented numerous plans to minimize income, gift, estate and generation-skipping transfer taxes that are associated with succession planning for individuals and privately held businesses. Patrick also represents fiduciaries, beneficiaries and other claimants when controversies arise involving taxes, trusts, estates and related property interests.
Patrick is experienced in the following areas:
Wealth, Tax, Trust, and Estate Planning and Administration
Patrick combines his down-to-earth practical outlook and technical expertise to present strategies to clients in easily understood terms. He develops and implements a personal and customized plan specific to each client and their family. To that end, Patrick works closely with each client’s team of advisors, accountants and other professionals to create a comprehensive plan that helps clients recognize their goals and objectives and secure the future for themselves, their families and beneficiaries.
Patrick counsels individuals and families of all levels of wealth and at all stages of life. He has experience drafting all types of trusts and estate planning documents including: wills, revocable and irrevocable trusts, medical powers of attorney, living wills, health care declarations, qualified spousal trusts, life insurance trusts, National Firearms Act (NFA) trusts, gift trusts, family trusts, dynasty trusts, qualified personal residence trusts, discretionary trusts, GST trusts, asset protection trusts, durable powers of attorney and much more. In addition, Patrick has extensive experience working with clients to design and implement prenuptial and postnuptial agreements.
Estate and Trust Administration/Probate
For complex and unique estate and trust administration Patrick regularly counsels professional and nonprofessional administrators of trusts and estates on their fiduciary duties and assists with probate and trust administration, fiduciary income tax returns and accountings. He also advises fiduciaries on establishing best practices to meet their fiduciary responsibilities to minimize risks, avoid litigation and effectively settle disputes without court intervention.
Patrick’s business background and degree in Tax Law help provide business clients with the advice and knowledge of an outside general counsel. His business planning experience ranges from creating or forming entities including limited liability companies, corporations and partnerships, to developing and structuring exit strategies that maximize the client’s goals and objectives. He combines his knowledge in business and estate planning to advise clients on effectively and practically devising a business succession plan. Patrick has prepared numerous buy-sell agreements, family business plans, purchase and sale agreements, asset purchase agreements, stock purchase agreements, promissory notes and leveraged buy-out plans. He has extensive experience in negotiating and closing a variety of asset and stock purchase agreements.
Asset Protection Planning
Patrick utilizes his estate and business planning background to assist clients in protecting their assets from loss, risk and exposure both during life and after death. He utilizes many different tools to assist clients in achieving their asset protection goals including asset protection trusts, irrevocable trusts, limited liability companies, prenuptial and postnuptial agreements, and insurance planning.
Probate and Trust Litigation
Patrick utilizes his knowledge in business and estate planning to effectively litigate contested probate, trust and business matters. He represents individuals, businesses, trustees, personal representatives, executors, beneficiaries, creditors and omitted or potential heirs in the following areas:
Special Needs Planning
For families with individuals that have special needs, Patrick helps them plan for their future and achieve the best possible quality of life. He has knowledge of government benefit eligibility and advises his clients on the use of special needs trusts and guardianships and conservatorships. Patrick has prepared numerous special needs trusts, testamentary special needs trusts, Medicaid payback trusts and other discretionary trusts.