Estate Planning and Asset Protection - A New Blawg On The Scene
This is a new endeavor by me, Randy Coleman, to accomplish a number of objectives. First, I see this blawg as a way to provide additional information, on a regular basis, to my existing clients. Second, it will offer the opportunity for my clients and others to let me know what is of interest to them, and where I need to be providing my focus so that I can respond to their evolving needs. It's also a way for me to communicate ideas to not only to clients, but to those in allied professions with whom I am constantly working to provide solutions to the estate planning and asset protection needs that they and their clients have.
Let me take a few sentences to let you know who I am. I have been in the private practice of law for 30 years, after working in Atlanta and Florida as a certified public accountant for six years. In my law practice, initially, as an associate attorney and then a partner, with large law firms (one over 650 lawyers), I handled commercial litigation matters for my clients, including a substantial amount of securities litigation. I eventually reached a point where I felt that helping clients avoid problems was more rewarding than helping them recover from problems after they occurred. So I shifted the focus of my practice to planning rather than litigating. Since 1991 my practice has been primarily focused on estate planning, asset protection, small business planning, tax planning, and related areas of the law.
Over the years, I have been intimately involved with the financial services industry, the life insurance industry, and the real estate industry, as well as the legal systems in various parts of the United States and portions of the Caribbean, Central and South America and Europe. During my tenure with the large law firms, I was a department chairperson requiring my participation with various litigation matters in many states, including California, New York and Texas, as well as throughout Florida. I have participated in matters where my objective was to seek out assets from defendants to recover as much as I could for my clients, and to defend my clients from claims, some spurious and others not, and to protect the assets of those defendants from recovery by the plaintiffs and their counsel as zealously as the law allows. So, I have seen asset protection from both perspectives. I have been counsel for plaintiffs as well as defendants, in commercial litigation matters, and have served as an arbitrator for the American Arbitration Association and FINRA (formerly the National Association of Securities Dealers -NASD) in commercial and securities matters. I have served on the board of directors of publicly held companies, non-profit organizations, community based organizations and chambers of commerce. I have seen liability arise out of all kinds of circumstances, with all kinds of consequences.
My personal philosophy is that asset protection and estate planning are essentially the same thing - just a slightly different focus. Estate planning involves making sure that you have put your affairs in order so that you can control and protect your assets for the benefit of you and your loved ones during your lifetime, in the event of incapacity and at death. It involves the transfer of your assets at death, to the people you want, in the manner you want, at the time you want, and at the least possible cost in taxes, administrative expenses and professional feels. Asset protection is essentially the same thing. It involves, primarily, structuring your affairs so that you and your family can control and benefit from your assets, while protecting them from being lost to taxes, unnecessary professional fees, fraudulent actions by others, or undeserving creditors.
Good estate planning and good asset protection planning both require teamwork. In most cases, the client, the client's CPA, financial advisor, a knowledgeable life insurance professional, and sometimes others, along with an experienced and knowledgeable estate planning and asset protection attorney, are all needed to make the estate plan and the asset protection plan work right for the client.
In the coming days, weeks, months, and years, it is my objective to provide the readers of this blawg some of the benefit, and the insight, from my 36 years experience as an attorney and CPA. I will endeavor to provide not only the technical legal discussion appropriate for the topics covered, but will also include commentary regarding the practical issues and consequences involved in a particular situation. I hope you will enjoy and benefit from the time you spend as a reader of this blawg.
Let me take a few sentences to let you know who I am. I have been in the private practice of law for 30 years, after working in Atlanta and Florida as a certified public accountant for six years. In my law practice, initially, as an associate attorney and then a partner, with large law firms (one over 650 lawyers), I handled commercial litigation matters for my clients, including a substantial amount of securities litigation. I eventually reached a point where I felt that helping clients avoid problems was more rewarding than helping them recover from problems after they occurred. So I shifted the focus of my practice to planning rather than litigating. Since 1991 my practice has been primarily focused on estate planning, asset protection, small business planning, tax planning, and related areas of the law.
Over the years, I have been intimately involved with the financial services industry, the life insurance industry, and the real estate industry, as well as the legal systems in various parts of the United States and portions of the Caribbean, Central and South America and Europe. During my tenure with the large law firms, I was a department chairperson requiring my participation with various litigation matters in many states, including California, New York and Texas, as well as throughout Florida. I have participated in matters where my objective was to seek out assets from defendants to recover as much as I could for my clients, and to defend my clients from claims, some spurious and others not, and to protect the assets of those defendants from recovery by the plaintiffs and their counsel as zealously as the law allows. So, I have seen asset protection from both perspectives. I have been counsel for plaintiffs as well as defendants, in commercial litigation matters, and have served as an arbitrator for the American Arbitration Association and FINRA (formerly the National Association of Securities Dealers -NASD) in commercial and securities matters. I have served on the board of directors of publicly held companies, non-profit organizations, community based organizations and chambers of commerce. I have seen liability arise out of all kinds of circumstances, with all kinds of consequences.
My personal philosophy is that asset protection and estate planning are essentially the same thing - just a slightly different focus. Estate planning involves making sure that you have put your affairs in order so that you can control and protect your assets for the benefit of you and your loved ones during your lifetime, in the event of incapacity and at death. It involves the transfer of your assets at death, to the people you want, in the manner you want, at the time you want, and at the least possible cost in taxes, administrative expenses and professional feels. Asset protection is essentially the same thing. It involves, primarily, structuring your affairs so that you and your family can control and benefit from your assets, while protecting them from being lost to taxes, unnecessary professional fees, fraudulent actions by others, or undeserving creditors.
Good estate planning and good asset protection planning both require teamwork. In most cases, the client, the client's CPA, financial advisor, a knowledgeable life insurance professional, and sometimes others, along with an experienced and knowledgeable estate planning and asset protection attorney, are all needed to make the estate plan and the asset protection plan work right for the client.
In the coming days, weeks, months, and years, it is my objective to provide the readers of this blawg some of the benefit, and the insight, from my 36 years experience as an attorney and CPA. I will endeavor to provide not only the technical legal discussion appropriate for the topics covered, but will also include commentary regarding the practical issues and consequences involved in a particular situation. I hope you will enjoy and benefit from the time you spend as a reader of this blawg.
Posted by Randy Coleman at 8/22/2008 10:44 AM 
Categories: Physicians and Asset Protection,Estate Planning,Asset Protection
Tags: Jacksonville guardianship attorney Jacksonville elder law attorney asset protection asset protection attorney estate planning attorney Jacksonville estate planning attorney Medicaid planning attorney Florida probate attorney asset protection planning estate planning lawyer Florida estate planning attorney wills lawyer Jacksonville Medicaid planning attorney estates and trusts Jacksonville asset protection attorney asset protection lawyer estate planning
Categories: Physicians and Asset Protection,Estate Planning,Asset Protection
Tags: Jacksonville guardianship attorney Jacksonville elder law attorney asset protection asset protection attorney estate planning attorney Jacksonville estate planning attorney Medicaid planning attorney Florida probate attorney asset protection planning estate planning lawyer Florida estate planning attorney wills lawyer Jacksonville Medicaid planning attorney estates and trusts Jacksonville asset protection attorney asset protection lawyer estate planning
I think this blawg is a great idea and I look forward to returning often. Thanks!
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RANDY,
I'M IMPRESSED !
WE'RE LOOKING @ SETTING UP A WEBSITE.
THERE IS AN ATTY. BLOG RE "JURY SELECTION" THAT I LOOK @ ALL THE TIME.
GOOD LUCK WITH THIS !
FISH
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Randy,
That was quite interesting and a very easy read for the lay person. Thanks for such a comprehensive read that seemed to cover the most common situations we may be involved in. How about info on RMD when you reach 70 1/2? Hope you have time to keep this blawg going.
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Mr. Coleman:
My husband I found this site very well written and informative. This why my husband and I chose your law firm for our estate planning. You were extremely helpful and knowledgeable. Many times with other attorneys, I was left wondering if they are really competent and providing sound advice. This was never the case with your law firm. We left knowing we were in competent hands.
Thanks
Lorrie
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