Family Limited Partnerships: The Year in Review
	Family Limited Partnerships: Are They Still Alive and Kicking?
	Proskauer Rose Partner Named a Fellow at College of Tax Counsel

	The Internal Revenue Service Provides Interim Guidance Regarding The Deductibility of Investment Advisory Fees for 2007 Income Tax Returns Filed By Trusts and Estates
	Supreme Court Holds Trust's Investment Advisory Fees Not Fully Deductible
	2007 Estate Planning Update

Personal Planning Newsletter June 2008

	Proskauer Rose Widely Recognized in 2008 Chambers USA
	Proskauer Rose Congratulates 80 Lawyers Named in The Best Lawyers in America® 2008
	Proskauer Rose Widely Recognized in 2007 Chambers USA

43rd Annual Southern Federal Tax Institute

View all DAVID PRATT's Press Room Items

David Pratt is a partner in the Firm's Personal Planning Department, practicing in the Boca Raton office. His practice is dedicated exclusively to the areas of trusts and estates, and estate, gift and generation-skipping transfer, and fiduciary and individual income taxation. He specializes in estate planning, post-mortem tax planning and asset protection.

David's clients consist predominantly of high net worth individuals and families. He regularly counsels his clients regarding how to transfer wealth from generation to generation with the least amount of tax and the maximum amount of asset protection at each generation, including protection for a divorcing child or grandchild and from potential creditors.

While many of David's clients are retired, he also represents a significant amount of business owners. David has recommended and implemented many plans which have transferred ownership of business interests to the next generation with minimal transfer tax cost and without disruption of the family business. Such plans very often include recommendations resulting from the family dynamics involved with a family business.

David's clients often consult with him with respect to charitable giving. David has been involved with establishing many charitable remainder and lead trusts, and has also established many private foundations.

David also prepares many nuptial agreements, both prior to and during a marriage. He also is very often engaged by an individual who is in the process of obtaining a divorce in order to do "pre-divorce" planning.

David also represents many doctors and other professionals who need asset protection planning. Specifically, David has recommended many asset protection plans involving entities such as family limited partnerships and limited liability companies, and irrevocable trusts, and a combination of these techniques.

Many of David’s clients have significant retirement plans. David regularly advises clients how to maximize the income tax deferral with respect to such plans.

David graduated from the State University of New York at Albany in 1986. Prior to attending law school, David was a certified public accountant with Arthur Andersen & Co. in New York City. David graduated from Brooklyn Law School in 1991 and also received an LL.M. in Taxation from New York University Law School in 1993.

David is Florida Board-Certified in both Taxation and Wills, Trusts and Estates. There are very few attorneys in the State of Florida who hold a dual certification. David has also been listed on Worth Magazine’s list of top 100 attorneys in the United States, and Best Lawyers in America, and has also been recognized as a leading individual in the field of Wealth Management and Estate Planning by Chambers USA. Florida Trend Magazine hails him as one of “Florida’s Legal Elite” and he has also been named a “Florida Super Lawyer” by Florida Super Lawyers Magazine.

David is a Fellow of the American College of Trust and Estate Counsel and is a member of the Estate and Gift Tax, Fiduciary Income Tax and Asset Protection Committees of the College. He is also a Fellow of the American College of Tax Counsel. David is also the immediate Past Chair of the Fiduciary Income Tax Committee of the American Bar Association's Tax Section, and has previously served as Vice-Chair and Secretary of such Committee. He is also a past Co-Chair of the Business Planning and Valuation Subcommittee and the Hubert Task Force, both of the Estate and Gift Tax Committee of the American Bar Association's Tax Section.

David is an active member of the Florida Bar's Tax Section and is currently the Chair-Elect of the Tax Section. He will serve as the Chair of the Tax Section in 2008. He has held many leadership positions in the Tax Section, including Chair of the Long Range Planning Committee, Chair of the Tax Certification Review Course, Director of the Educational and Federal Tax Divisions, Secretary of the Tax Section, and Chair (and Founder) of the New Tax Lawyers Committee. David had the privilege of representing the Tax Section in delivering testimony at the IRS hearings in Washington, D.C. regarding the Tax Section's comments on the Proposed Regulations on Required Minimum Distributions from Retirement Plans.

David is also an active member of the Florida Bar's Real Property, Probate and Trust Law Section. He is currently on the Executive Council as the Liaison to the Tax Section. He also served as a member of the Section's Wills, Trusts and Estates Certification Committee, and continues to serve as a member on the Estate and Trust Tax Planning and Asset Preservation Committees. David was also one of the authors of comments submitted to the IRS by the Section in response to a controversial Revenue Procedure concerning charitable remainder trusts.

David is also an adjunct professor at the University of Florida’s Levin College of Law, where he teaches in the LL.M. program. He is also a faculty member of the American Law Institute-American Bar Association, where he teaches a course on estate and gift taxation. He is a commentator on Leimberg Information Services Inc., a well known estate planning newsletter, circulated to many estate planning professionals across the country. He has also published various articles in legal journals, and lectures extensively to other lawyers and professionals, and laypersons.

David also is very involved with local organizations. He is a past President of the Palm Beach Tax Institute and past President and Founder of the Boca Raton Tax Institute. He is also a member of the Boca Raton and Palm Beach/Martin County Estate Planning Councils.

David has been very active with his community through his affiliation with the Jewish Federation of South Palm Beach County. He is currently the Vice-Chair of the Board of Trustees of the Jewish Community Foundation of the Jewish Federation of South Palm Beach County. He is also a past Chair of the Professional Advisory Committee of both the Jewish Federation of South Palm Beach County and the Jewish Federation of Palm Beach County. He is also a member of the Jewish National Fund’s Legal Committee and the Executive Committee of Professional Advisers for the Community Foundation for Palm Beach and Martin Counties, and has served on many Planned Giving Committees of charitable organizations in Palm Beach County.