Meet Peter Flanagan
Meet Peter Flanagan
Dedicated to Working With You and Your Family
to Achive Your Estate Planning Goals
My practice over the last 25 plus years has encompassed just about every estate planning strategy or approach. The need for competent estate planning continues to grow as many residents from other states have discovered the lifestyle benefits and tax benefits of living in Florida.
As a very general matter, the main goal of an estate plan is to ensure the orderly disposition of assets during lifetime and upon death. However, the estate planning process often must be implemented within a context replete with complex family dynamics, which means that each plan must be specifically tailored to consider those dynamics to best achieve each client’s goals.
My approach gives due regard for the specific needs of each family, the challenges each family may face or want to protect against to preserve family wealth, anticipating and mitigating against future risks that may currently be unforeseen, family charitable goals and ambitions, income tax considerations, and the possible imposition of (and reduction of) wealth transfer taxes.
Areas of Practice
Just a few of the planning strategies/issues that I have worked to implement or solve over the years include the following:
- Wills/Revocable Trusts
- End of Life Planning with Advance Directives and Living Wills
- Pet Trusts
- Establishing Florida Domicile
- Florida Homestead Exemption
- Probate Estate and Trust Administration
- Intergenerational Planning/Dynasty Trusts
- Defective Grantor Trusts/Asset Freeze Structures
- Life Insurance Trusts and Planning
- Retirement Asset Planning
- Valuation Discounts
- Fiduciary Representation
- Federal Estate Tax Return and Federal Gift Tax Return Preparation
- Individual and Fiduciary Income Taxation
- Residential Real Estate Transactions, Title Examination and Closings
- Family Limited Partnerships
- Family Foundations
- Charitable Lead Trusts
- Charitable Remainder Trusts
- Qualified Personal Residence Trusts
- Grantor Retained Annuity Trusts
- Spousal Lifetime Access Trusts
Background
I grew up in Boca Raton, where I spent the first 18 years of my life before heading to Florida State University for undergraduate studies and then law school. Upon earning my Juris Doctor degree from FSU, Magna Cum Laude, I briefly returned to Boca Raton before settling in the North Palm Beach area.
After practicing briefly in Ocean Ridge, I have spent the last 25 years working with my mentor, Robert G. Simses, at the law firm Simses & Associates P.A., a boutique Trusts and Estates firm in Palm Beach, where I now maintain an “of counsel” relationship, while focusing most of my time developing Flanagan Estate Law in the north part of Palm Beach County.
Most of my free time is spent in pursuit of (or coaching) various youth sports with my kids (mostly soccer, basketball, tennis and golf), spending time on our boat, or trying to sharpen my own tennis and golf skills. Of course, our friendly canine companions, Bear and Buck, typically find themselves in the mix as well! Also a proud supporter of the Palm Beach Gardens Youth Athletic Association.