On June 25, Miami Tax partner Patrick Lannon co-presented a webinar titled “Joint Revocable Trusts: Domestic and International Considerations and Pitfalls,” for the Greater Miami Tax Institute.
Patrick discussed joint revocable trust basics; community property v. separate property; planning considerations for domestic clients and planning considerations for international clients. The presentation explained that joint recovable trusts are typically used to hold the assets of a married couple during their lifetimes without separate title. They are more commonly used to hold community property, but occasionally used to hold separate property.
The GMTI was founded in 1961 and is a non-profit organization that focuses on technical tax topics and conversations. It is comprised of tax attorneys, CPAs focused in taxation and Chartered Life Underwriters (CLUs).
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.