EFTA00624684

Palm Beach Daily News, Sunday, December 14, 2008 
DID THE 
FURNITURE 
CARPENTER 
MAKE THE 
ALTERATIONS 
TO MY OFFICE 
DESK THAT 
I WANTED? 
YES, MR. EPSTEIS12\S-
IT WILL NOW CONVERT (1.4
INTO A MASSAGE 
TABLE IN LESS 
THAN A MINUTE. 
OH, THE HARDSHIPS OF DOING TIME! 
EFTA00624684

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