Israel Sands Law, P.A.

Estate Planning is not only for the rich. Everyone needs a will, which should be reviewed every 5 years. In Florida, a will with a revocable trust is the best way to assure privacy and efficiency when passing assets at death. Health care directives are important, even if you have no assets, to assure that the medical care you receive will be in keeping with your philosophy and wishes. Planning your estate is a responsibility that you may have postponed. You will find it satisfying to sit in Israel Sands' sun-filled office on South Beach, where you can discuss the needs of your heirs and the legacy that you want to create for them. Israel is also available for meetings at your home or office.

 

Israel Sands' approach to Estate Planning emphasizes forethought and flexibility. This is in response to how quickly situations change, and how priorities may need to be adjusted without having to recast the entire estate plan. In light of the unsettled estate and gift tax environment, an estate plan must be adaptable to future changes in the law, changes which are certain to come. The approach is people-centered: sometimes the optimal estate plan is not the best tax solution; the priority is getting the right amount of the right assets to the right heirs, at the right time - and not before.

 

Israel believes that family values and personal relationships may well be more important to conserve and foster than wealth. At first sight, the perfect trustee for a sibling who is financially irresponsible might be a sibling who is a financial genius, but Israel would prefer an institutional trustee, with average investment skills; Israel is unwilling to risk the integrity of a fraternal relationship just for greater return on investment. Complex issues with second or later spouses, marriages with mixed children, and substance abuse require an attorney with psychological insight and acuity.

 

 

Probate Proceedings

are handled efficiently and as inexpensively as possible. Israel is registered in a new program with the courts to submit documents electronically. For the administration of estates with longer settlement periods, the timing and characterization of payments is monitored so that deductions are not lost. Israel is a natural-born problem-solver, a Miami native with many contacts who can help to quickly unravel mysteries that a person may leave behind. Israel has experience working with high-profile individuals and understands the value of discretion.

 

International Clients

are counseled and assisted on structuring ownership of U.S. assets to minimize taxation. Asset protection, a consideration that is under-appreciated by many foreign nationals, is an added value to titling assets in legal entities instead of personally. Immigration issues are also considered, as they interact with the considerations above. Israel is fluent in Spanish and French.

 

Elder Law

issues are resolved with sensitivity for the dignity of a person who may be experiencing diminished capacity. A person may be losing capacity in one area, yet be fully in control in other areas. Israel is zealous about allowing everybody independence and self-determination for as long as possible, to allow the part of them that is working at full capacity to flourish, for as long as possible. Israel works with quality home-service providers to assure the comfort of those who may be dependent on care in their final years. If your family member or friend is in a home for the elderly, an unexpected monthly visit by Israel in a good suit will assure that the staff does everything possible for the comfort of your loved one. If it is difficult for you to come to Israel's office, he will come to meet you where you are.

 

Tax Planning

is the central focus of the Master of Laws (LL.M.) program in Estate Planning at the University of Miami, the only school in the country that offers this highly specialized degree. Saving money on taxes in one area can lead to significant overpayment of taxes in another. Using a holistic tax approach, Israel will look at how a client's financial life may be restructured for overall tax savings, considering both the client and the future heirs. He frequently attends seminars and workshops to stay current on developing tax strategies and to know what tax vehicles are newly under attack by the IRS. Israel choses a tax strategy that responds to the individual client's domestic or family situation and their assets portfolio, always opting for the simplest and most elegant solution, and for future flexibility. This includes preparing the way for "post-death estate tax planning", with toggle-switch on/off provisions in his documents that can minimize taxes during the administration of an estate.

 

Same-Sex & Unmarried Couples

are advised on how to approximate the legal privileges of matrimony, with guardianship designation and directives that anticipate the difficult periods just before and after death. Undivided joint ownership of assets is risky where domestic partners do not start out on equal financial footing, so unmarried couples need appropriately titled assets and bulletproof documents to ensure a distribution of assets that respects valued relationships. A married same-sex couple should have a marital deduction in their documents, contingent on the repeal of DOMA, so that their documents do not have to be redone once the repeal is history.

 

Transfer Tax-saving Opportunities in 2011 and 2012

should be investigated by anyone whose assets are currently over $3 million. The current $5 million exclusion amount may be lowered, effective 2013. Assets put into trust now for your heirs will appreciate for their benefit, free of any transfer taxes at your death. If you own real estate, currently depressed values are another reason to act now. Israel is familiar with tax strategies, accepted by the IRS, that can transfer more than $5 million in assets without paying any transfer taxes.

 

About Israel Sands:

Israel Sands was born in Guanajay, Cuba and came to Miami in 1961. He graduated from University of Miami with a major in Psychology in 1974. He received his J.D. from the University of Miami School of Law in 1978, and the Master of Laws (LL.M.) in Estate Planning in 2011. After receiving his first law degree, Israel lived in Paris for 11 years, where he practiced immigration law and then became involved in various international entrepreneurial endeavors. In 1990 he became a "pioneer" in the renaissance of South Beach with his destination store, Flowers & Flowers on Lincoln Road. His sterling character has earned the trust of many families in South Florida, who are secure in his honesty and dependability. He lives with J.B.Veltman who has 2 daughters.

Israel has been active with many non-profits in South Florida, notably as a founding board member of the South Beach Business Guild, and works closely with Virginia Jacko, CEO of Miami Lighthouse for the Blind. He currently sits on the Miami Beach Cultural Arts Council and on the board of directors of the Miami Beach Botanical Garden.

 

Initial consultations are pro-bono or complimentary.

 

 

 

Israel is fluent in Spanish and French.