EFTA00624684.pdf

Palm Beach Daily News, Sunday, December 14, 2008 DID THE YES, MR. EPSTEIS12\ S- FURNITURE IT WILL NOW CONVERT (1.4 CARPENTER INTO A MASSAGE MAKE THE TABLE IN LESS ALTERATIONS THAN A MINUTE. TO MY OFFICE DESK THAT I WANTED? OH, THE HARDSHIPS OF DOING TIME! EFTA00624684  Palm Beach Daily News, Sunday, December 14,2008 LIBERMAN Program can assist Family limited partnerships protect assets recovery of pictures From Page AU give its limited partners certain rights, such as to receive account- By BILL HOSTED home from your taxable estate, ing periodically and to have pe- Cox Nchs Smut- via a qualified personal residence riodic meetings. IRS challenges, trust (QPRT). This type of trust is he says, generally involve family Q: My son was in Europe for six weeks and took blessed by the IRS. In fact, the IRS limited partnerships when those about 500 pictures, but he had a problem with his even provides forms to set one up. rules are not followed. camera. Unexpectedly, pictures would disappear. A qualified personal residence Family limited partnerships I used a free version of PC Inspector File Recovery. trust, however, often is impractical also can prove a great way to pro- I was able to see all the pictures, but about the bot- if assets also are being split among tect the assets from creditors of tom 60 percent were gray. Could you recommend a children and grandchildren. kids and grandchildren, who may product or a service for recovery? Have a family limited partner- be having financial problems with - Phillip R. Derengowsk ship? their business or ultimately get di- A: A program I have used successfully can be Now, can he a great time to get vorced. found here: www.lexar.com/software/image_ a bundle of depreciated stocks out Was there a death in the family rescue3.html. of your estate and make gifts at this year? I've never used PC Inspector File Recovery. But their lower values to family mem- You're allowed to value an es- it's free and, as you discovered, did no harm and bers. tate for federal estate tax purposes worked after a fashion. While the IRS has been attack- either on the date of death or six Note: Phillip sent a follow-up saying he used the ing this strategy, Mendlowitz says, months later, Mendlowitz notes. Lexar product, and it recovered and saved most of the key is that you strictly follow So evaluate whether taxable the photos. A few could not be recovered — proba- the terms of the family limited values may be significantly lower bly because of fragmentation on the card or an erro partnership agreement you set up. if you use the six months later val- so serious it defeats file recovery software. I recom- Family limited partnerships ue, he suggests. mend the Lexar program. WINSLOW From Page AU Chamber of Commerce has hired inde• meetings, but more information can be pendent contractor Robin Miller as the obtained through Rotary Executive Sec- elation. new Worth Avenue Association admin- retary Kim Parkey at 799-6154. EFTA00624685