Frank Steven Baldino

Practice Details

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• Firm Information
  Position

  Principal

  Firm Name

  Lerch, Early & Brewer, Chartered
• Representative Cases & Transactions
  Cases

  Representation Matters: Developed an estate plan for two married professionals, a doctor
  a lawyer, who were concerned about protecting their assets from potential creditors of the medical practice. Used trusts to shelter assets, thereby protecting their assets from claims
  creditors of the business.
  Counseled a couple about guardianship of their minor children if they both died. In this case, thoroughly discussed who was best positioned to provide care for the children
  manage their inheritance,
  ultimately appointed one relative as the legal guardian
  another as the trustee of trusts for the children.
  Created estate plans for a couple where each person had been married previously
  had children from their prior marriage. Set up qualified terminable interest property (QTIP) trusts, which would provide spousal payments based on income earned by the trust
  discretionary payments of trust principal, with the remaining principal transferring to the children from the first marriages after the death of the second spouse.
  Prepared an advance directive for a client newly diagnosed with cancer, discussing her treatment preferences in the event her disease progressed,
  designating certain of her children as her health care decision-makers.
  Developed a lifetime gifting plan for a family business owner. Minimized gifts taxes
  leveraged the lifetime gift tax exemption through the use of discounts
  intergenerational transfer trusts like GRATs
  GRUTs, which resulted in tax savings as a result of transferring interests in the family business
  interests in a real estate LLC to trusts for the benefit of her children.
  Counseled clients on developing a charitable giving plan, including deciding how much to give, which assets to give, how to determine which organizations should receive the gifts, the way in which the gifts were to be used,
  the manner of making the gifts (outright gifts or gifts to trusts for the benefit of the charity versus a family foundation).
  Worked with corporate lawyers to develop both short-
  long-term business succession plans for a closely held business in order to achieve the long-term success of the family enterprise.