Overview

Patrick is a partner in the Personal & Succession Planning practice group.  He focuses his practice on counseling high net worth individuals, families, and closely-held businesses in a wide range of personal, charitable, business, tax, multi-generational wealth transfer, asset protection, probate avoidance, and succession planning matters, and representing fiduciaries and beneficiaries in estate and trust administration, tax compliance, and fiduciary litigation matters.

Patrick is a Fellow in the American College of Trust and Estate Counsel (ACTEC) and a Certified Public Accountant (CPA) in Ohio.  He is also an Ohio State Bar Association (OSBA) Board Certified Specialist in Estate Planning, Trust and Probate Law, and is certified as an Accredited Estate Planner® (AEP®) by the National Association of Estate Planners & Councils (NAEPC).  Patrick received the Estate Planning Council of Cleveland's 2017 Distinguished Estate Planner Award, and was selected as the Best Lawyers® 2017 “Lawyer of the Year” (Cleveland:  Closely Held Companies and Family Businesses Law).  He is ranked in Chambers HNW 2018 (Ohio: Private Wealth Law), has been selected for inclusion in Super Lawyers in Ohio Super Lawyers Magazine annually since 2008, has been listed in The Best Lawyers in America annually since 2014 in three different practice areas (Closely Held Companies and Family Businesses Law, Litigation - Trusts and Estates, and Trusts and Estates), and is AV Preeminent® Peer Rated by Martindale-Hubbell.

Experience
  • Structured and implemented a number of trust decanting transactions and statutory and non-statutory private settlement agreements to modify old or “broken” irrevocable trust instruments.
  • Implemented "Round 2" grantor trust income tax free installment sale transactions to facilitate family patriarch's transfer of his additional interests in a manufacturing S corporation to dynastic trusts for the primary benefit of his children and heirs apparent to the business by utilizing substantial existing trust equity without the necessity of the grantor's making any additional taxable gift or utilizing any more of his GST exemption.
  • Defended and negotiated the settlement of a two and one-half year multiple tax year federal gift tax audit of matriarch with gift tax exposure exceeding $1 million and facts involving numerous intrafamily gifts and taxable installment sales of general and limited partner interests in a family limited partnership and other assets, and the matriarch's taxable installment sale and leaseback of a fractional interest in her primary residence.
  • Designed numerous GST exempt dynasty and posterity trusts to hold voting control of family owned businesses and other assets and to assure continuity of management of assets and facilitate estate, gift, and GST tax valuation objectives.
  • Advised on the income, gift, estate, and GST tax consequences of a partnership arrangement to settle management issues over family investments held in a QTIP trust and allow payment of estate tax on a Graegin type installment basis. Advised on the determination of trust accounting income with respect to interests held by the QTIP trust in partnerships and limited liability companies.
  • Implemented a variety of family office planning arrangements, family partnerships, stock recapitalizations, intra family installment sales to grantor trusts, and all types of Grantor Retained Annuity Trusts (GRATs), and other estate freeze techniques to accomplish a variety of family business, wealth transfer, and investment objectives.
  • Formulated a number of Charitable Remainder Trusts and Charitable Lead Trusts to facilitate charitable and business succession planning objectives. Provided counsel on the pre-funding split and merger of strategically located real estate in connection with the funding and operation of a "FLIP" NIMCRUT type of Charitable Remainder Trust. Experience with all types of other charitable giving arrangements.
  • Counseled fiduciary on the grantor's repurchase of GRAT-owned shares of stock in a rapidly appreciating company thereby locking in a substantial transfer tax-free remainder distribution to family matriarch's children. Assisted the fiduciary in negotiating with the grantor on the grantor's borrowing and repayment of loans in connection with a series of complicated transactions involving operating S corporation's shares held by a series of GRATs.
  • Provide advice to a large family office with respect to myriad of multi-generational estate, gift, GST, and income tax and business succession planning issues.
  • Quarterbacked several "bailout" transactions involving defective Irrevocable Life Insurance Trusts, including the design and implementation of several trust-to-trust grantor trust income tax free sales transactions.
Publications

Selected Publications

  • Quoted in "Digital Assets an Important Estate Planning Element," Cleveland Jewish News, June 28, 2019
  • "Charitable Giving Under the New Tax Laws," Probate Law Journal of Ohio, September/October 2018
  • Co-author, "New Tax Law Enables Large Tax-Free Transfers and Necessitates Estate Plan Review," Thompson Hine Personal & Succession Planning Update, January 2018
  • Quoted in "Cryptocurrency Has Place in Estate Plan," Cleveland Jewish News, June 22, 2018
  • Quoted in "Pre-Planning Can Help Protect Estate in Divorce Resolution," Cleveland Jewish News, April 19, 2018
  • Quoted in “Planned Giving Part of Bigger Picture,” Cleveland Jewish News, March 14, 2018 
  • "Flexibility and Low Risk: The Mantra in Estate Planning Today," course outline for the Tri-State Tax/Wheeling Jesuit University's 60th Annual Tri-State Tax Institute, Wheeling, West Virgina, October 24, 2017
  • "The Mighty Trust Protector," Cleveland Metropolitan Bar Journal, June 2017
  • "Trustee Succession and the Use of Multiple Fiduciaries: Critical Elements of the Estate Planning Process," Probate Law Journal of Ohio, January/February 2017
  • "Several Factors Influence Best College Funding Spigot," Crain's Cleveland Business, November 2016
  • "Portability's Pliability and Why Married Couples and Surviving Spouses Are Dumping Their Old A-B Trust Plans," Cleveland Metropolitan Bar Journal, June 2016
  • "Portability: The Final Regulations," Probate Law Journal of Ohio, March/April 2016
  • "Portability: Estate Planning in the New Frontier," Probate Law Journal of Ohio, July/August 2015
  • "Portability: Now It's For Real," Probate Law Journal of Ohio, May/June 2013
  • "Installment Sales to Grantor Trusts: Prop-Ups for Down Times," Journal of Taxation of Investments, Summer 2009
  • “Transferring Assets in Unusual Times,” Scrap Magazine, March/April 2009
  • "Ohio's Taxing Fight Against the Florida Flight: What's Ahead," Probate Law Journal of Ohio, May/June 2007
  • "Rock 'N' Rollover .... Introducing the Charitable IRA Rollover," Cleveland Bar Journal, December 2006
  • "House Bill 73 Would Change Ohio's Income Tax Rules: Will You Be Affected by Changes to Residency Test?", Crain's Cleveland Business, November 2005
  • "It's No Longer 'Out of Sight, Out of Mind' in Ohio: House Bill 73, A First Step Toward Relaxing Ohio's Residency Requirements While Strengthening Ohio's Nonprofits and Bolstering Ohio's Coffers," Probate Law Journal of Ohio, July/August 2005
  • "The CARE Act: Does Congress Care Enough?", Leave A Legacy Northern Ohio News, Summer 2005
  • "Estate Tax Repeal: A Glimpse of the Future?", Crain's Cleveland Business, November 2001
  • "Gifting Programs: Advantages and Disadvantages," Crain's Cleveland Business, November 2000
  • "The Most Common Family Business Mistakes Can Be Avoided," Family Business Journal, Winter 1999
  • "The Family Business: Why It's a Brand New Ballgame," Crain's Cleveland Business, November 22, 1999
  • "The Five Most Common Family Business Mistakes," Crain's Cleveland Business, November 2, 1998
Presentations

Selected Presentations

  • "Charitable Giving and Tax Planning in the Post Tax Cuts and Jobs Act of 2017 Era," Key Private Bank's Updates For the Estate Planning Professional Seminar, Akron, Ohio, May 16, 2019
  • "Tax Update," The Estate Planning Council of Cleveland, Cleveland, Ohio, April 9, 2019
  • "Tax Update," The Estate Planning Council of Cleveland, Cleveland, Ohio, March 12, 2019
  • "A Discussion on Charitable Giving in Light of the Tax Cuts and Jobs Act of 2017," Fieldstone Farm/Tucker Ellis LLP, Cleveland, Ohio, November 14, 2018
  • "Estate Planning for Married Couples Under the New Tax Laws," Ohio State Bar Association’s Key Elements in Estate Planning Seminar, Columbus, Ohio (and Webcast), November 9, 2018
  • "Estate Planning for Married Couples and Portability Under the New Tax Laws," Tri-State Tax Institute/West Liberty University’s 61st Annual Tri-State Tax Institute, Tridelphia, West Virginia, October 23, 2018
  • "Charitable Giving Under the New Tax Laws," Northern Ohio Charitable Gift Planners, Independence, Ohio, October 5, 2018
  • "Estate Planning for Married Couples and Portability Under the New Tax Laws," Boy Scouts of America 1st Annual Estate Planning Seminar, Elyria, Ohio, September 21, 2018
  • "Estate Planning for Married Couples Under the New Tax Laws," Society of Financial Service Professionals, Independence,Ohio, September 19, 2018
  • "Charitable Giving Under the New Tax Laws," Cleveland Metropolitan Bar Association's Hot Topics for Estate Planners Seminar, Cleveland, Ohio, June 26, 2018
  • "Trust Remediation: When Your Grandfather's Trust Breaks Down on the Estate Planning Highway and Needs at Tow!", Key Private Bank's Updates for the Estate Planning Professionals Seminar, Akron, Ohio, May 22, 2018
  • "Tax Update," The Estate Planning Council of Cleveland, Cleveland, Ohio, December 12, 2017
  • "Estate Planning in Today's Trumped-Up Environment: A New World Order?", The Catholic Community Foundation's Charitable Gift Planning Seminar for Professional Advisors, Cleveland, Ohio, November 16, 2017
  • "Estate Planning in Today's Trumped-Up Environment: A New World Order?", The American Cancer Society Northeast Ohio Planned Giving Committee's CLE Seminar, Independence, Ohio, September 26, 2017
  • "Flexibility and Low Risk: The Mantra in Estate Planning Today," Boy Scouts of America 12th Annual Estate Planning Seminar, Cleveland, Ohio, September 18, 2017
  • "Estate Planning and Valuation Issues in Today's Trumped-Up Environment: A New World Order?", The Estate Planning Council of Cleveland, Cleveland, Ohio, September 12, 2017
  • "Portability: Estate Planning in the NOW Frontier," American Institute of Certified Public Accountants' (AICPA) Advanced Estate Planning Conference, Las Vegas, Nevada, June 15, 2017
  • "Estate Planning During the Trump Presidency: Bonanza or Boondoggle?", Northern Ohio Charitable Gift Planners' 26th Annual Planned Giving Day, May 4, 2017
  • "Estate Planning and Valuation Issues in Today's Trumped-Up Environment: A New World Order?", The American College of Trust and Estate Counsel's 2017 Ohio Meeting, April 22, 2017
  • "Estate Planning During the Trump Presidency: Bonanza or Boondoggle?", PNC Wealth Management Client Advisor Monthly Call (Ohio/Indiana/Kentucky region), April 7, 2017
  • "The Trump Impact: The Potential Effect on Law and Policy (Taxation)," Thompson Hine LLP Client Seminar, March 8, 2017
  • "Estate Planning During the Trump Presidency: Bonanza or Boondoggle?", Financial Planning Association of Northeast Ohio, February 16, 2017
  • "Drafting Trusts to Enhance (or Restrict) Flexibility," Cleveland Metropolitan Bar Association's 43rd Annual Estate Planning Institute, October 2016
  • "Portability: Estate Planning in the New Frontier and the Final Regulations,” Boy Scouts of America 11th Annual Estate Planning Seminar, September 2016
  • "Portability: The New Frontier," The American College of Trust and Estate Counsel's 2015 Ohio Meeting, April 2015
  • “Hey, Baby, Are You Portable? Love, Sex, and Romance Under the New Transfer Tax Law,” Sagemark Consulting’s Cracking the Code CPA continuing education seminar, November 2013
  • "Portability: Now it's for Real," Cleveland Metropolitan Bar Association, February 2013
  • "Charitable Trust Strategies in the Current Market," Northern Ohio Planned Giving Council, February 2013
  • "Portability: A Portal into the Future or a Pitfall for the Unwary?", Boy Scouts of America 7th Annual Estate Planning Seminar, September 2012
  • "Monthly Tax Update," The Estate Planning Council of Cleveland, (Monthly); September 2008 to June 2011
  • "Federal Tax Compilation and Update," Northern Ohio Planned Giving Council's 19th Annual Planned Giving Day, May 2010
  • "Estate Planning in Uncertain Times: Estate Tax is Repealed – Now What?", Cleveland Metropolitan Bar Association, January 2010
  • "Planning Opportunities in a Down Economy," PNC/National City Bank CLE Seminar, December 2009
  • "Wealth Transfer Opportunities in a Low Interest, Low Market Value Environment," Cleveland Metropolitan Bar Association's 52nd Annual Tax Institute, November 2009
  • "Federal Update," Cleveland Metropolitan Bar Association's 36th Annual Estate Planning Institute, October 2009
  • "Installment Sales to Grantor Trusts: Prop-Ups for Down Times," The American College of Trust and Estate Counsel's 2009 Ohio Meeting, April 2009
  • "Unintentionally Defective Sales to Intentionally Defective Grantor Trusts: Prop-Ups for Down Times," Cleveland Metropolitan Bar Association, March 2009
  • "Wealth and Asset Transfer Opportunities in a Low Interest, Low Value Environment," Thompson Hine LLP's Lunch & Learn firm-wide webcast, January 23, 2009 
  • "Estate Planning," National Association of Black Accountants, November 2008
  • "Studies in Sales to Defective Grantor Trusts," Boy Scouts of America 3rd Annual Estate Planning Seminar, September 2008
  • "Gifts of Fine and Decorative Art, Antiques, Collectibles, and Other Tangible Personal Property," Jewish Community Federation of Cleveland 36th Annual Charitable Tax Seminar, June 2008
  • "Touring the Universe of Charitable Split-Interest Gifts: Charitable Remainder Trusts, Charitable Lead Trusts, and Charitable Gift Annuities," Northern Ohio Planned Giving Council's 17th Annual Planned Giving Day, May 2008
  • "To Be or Not to Be ... A Grantor Trust," The Estate Planning Council of Cleveland, March 2007
  • "Did They Change the Rules Again?", Northern Ohio Planned Giving Council, March 2007
  • Chair, Estate Planning, Probate, and Trust Law Section of the Cleveland Bar Association's CLE seminar titled "'Hot Button' Topics on Trusts," June 2007
  • "Legislative Update," Northern Ohio Planned Giving Council, 2005 to 2007 (Monthly)
  • “Charitable Estate Planning,” Case Western Reserve University Law School’s Tax Aspects of Charitable Giving J.D. – level class, February 2006
  • "Bailouts from Sales to Defective Grantor Trusts," Cleveland Bar Association's 31st Annual Estate Planning Institute, October 2004
  • "Exploring the Universe of Business Succession Planning Options," The Ohio Society of Certified Public Accountants' 2003 Ohio & Federal Tax Conference, December 2003
  • "The 'Modern Day' Estate Plan," The Ohio Society of Certified Public Accountants' 2003 Estate Planning Conference, November 2003
  • "Business Succession Planning: Strategies, Issues and Opportunities," KeyBank National Association, July 16, 2003
  • "Exploring the Universe of Business Succession Planning Options," Cleveland Bar Association's Hot Topics for Estate Planners Seminar, June 17, 2003
  • "Business Succession Planning: Exploring the Universe of Planning Options," Cleveland Metropolitan Bar Association, March 18, 2003
  • "Estate Planning Fundamentals," Seniors for Christ Ministry's 16th Annual Church Ministerial Seniors Convention, September 21, 2002
  • "Federal Taxation Update: Family Partnerships," Ohio State Bar Association's 2002 Annual Convention, May 16, 2002
  • "Planning Opportunities and Challenges Under the 2001 Tax Act," Northern Ohio Planned Giving Council, September 7, 2001
  • "Making Financial Sense of Tax Cuts, Credits and Savings," The Cleveland Museum of Art Planned Giving Council, Cleveland, Ohio, July 26, 2001
  • "Common Real Estate Issues In Estate Planning and Probate," Cleveland Bar Association’s (Real Estate Law Section’s) 22nd Annual Real Estate Law Institute, Cleveland, Ohio, October 27, 2000
  • "Estate Planning Strategies: What's Hot and What's Not," The Ohio Society of Certified Public Accountants' 2000 Accounting Show, Cleveland, Ohio, October 19, 2000
  • "What Is a SERP Swap?" Cleveland Estate Planning Discussion Group, Cleveland, Ohio, February 24, 2000
  • "Recent Developments in the Family Limited Partnership and Valuation Areas," The Tax and Estate Planning Council of Akron, Akron, Ohio, November 15, 1999
  • "Potential Changes to Estate and Gift Tax Law," National Center for Family Business, Inc., Marco Island, Florida, November 8, 1999
  • "Federal Developments – Highlights," Cleveland Bar Association’s 26th Annual Estate Planning Institute, Cleveland, Ohio, October 22, 1999
  • "Top 10 Estate Planning Strategies to Reduce Estate Tax," The Ohio Society of Certified Public Accountants’ 1999 Accounting Show, Cleveland, Ohio, September 23, 1999
  • "A Survivalist's Crash Course in GST and Estate Taxation," The Ohio Society of Certified Public Accountants' 1999 Accounting Show, Cleveland, Ohio, September 22, 1999
  • "Buy/Sell, Close Corporation and Other Shareholder Agreements," Cleveland Bar Association, Cleveland, Ohio, June 23, 1999
  • "Estate Planning with the New Electing Small Business Trust in Ohio," Cleveland Bar Association, Cleveland, Ohio, April 27, 1999
Distinctions
  • Ranked in Chambers HNW 2018 (Ohio: Private Wealth Law, Band 2)
  • Listed in The Best Lawyers in America, 2014 to 2020, in three different practice areas:
    • Closely Held Companies and Family Businesses Law
    • Litigation - Trusts and Estates
    • Trusts and Estates
  • Selected for inclusion in Super Lawyers in Ohio Super Lawyers Magazine, 2008 to 2019
  • AV Preeminent® Peer Rated by Martindale-Hubbell
  • Fellow, American College of Trust and Estate Counsel (ACTEC) (elected in 2007)
  • Board Certified Specialist in Estate Planning, Trust and Probate Law by the Ohio State Bar Association (OSBA)
  • Certified Public Accountant (CPA) (inactive) in Ohio
  • Certified as an Accredited Estate Planner® (AEP®) by the National Association of Estate Planners & Councils (NAEPC)
  • Received the Estate Planning Council of Cleveland’s 2017 Distinguished Estate Planner Award
  • Named Lawyer of the Year in Best Lawyers® 2017 (Cleveland - Closely Held Companies and Family Businesses Law)
  • Order of the Coif
  • American Jurisprudence Award (Evidence)
  • Beta Gamma Sigma
  • Beta Alpha Psi
Professional and Civic

Professional Associations

  • American College of Trust and Estate Counsel (ACTEC), Fellow, 2007 to present
  • Ohio State Bar Association, Member, Estate Planning, Trust and Probate Section
  • Cleveland Metropolitan Bar Association, Chair, Estate Planning, Probate & Trust Law Section, 2006 to 2007; Member, 1994 to present
  • The Estate Planning Council of Cleveland, President, 2001 to 2002; Member, Board of Trustees 1997 to 2003; Member, 1994 to present
  • Northern Ohio Planned Giving Council, Secretary, 2003 to 2006; Member, Board of Trustees, 2001 to 2007; Chair, Legislative Committee, 2005 to 2007
  • Estate Planning Discussion Group, Member, 1998 to present
  • Ohio Society of CPAs, Member, 2003 Estate Planning Conference Advisory Committee

Community Activities

  • University Hospitals, Vice-Chair (2018 to present) and Member, Diamond Advisory Group
  • Case Western Reserve University, Chair (2015 to 2019) and Member, Estate Planning Advisory Council
  • Rock & Roll Hall of Fame, Member, Rock Advisors
  • Great Lakes Science Center, Member, Garrett Morgan Professionals Group
  • The Cleveland Museum of Art, Member, Gift Planning Network
  • College Now (Greater Cleveland), Member, Professional Advisory Council
  • The Refuge, Member
  • Cleveland Municipal School District, Team Captain, 3Rs Program
News