Leiha Macauley was quoted in a New York Times article examining the uncertainty over the estate tax. If Congress does not act before the end of the year, the tax will revert to its 2001 level - a 55 percent tax rate for individual estates larger than $1 million. Leiha discussed a matter of hers in which a 93-year-old widow is seeking to disclaim her husband's property so that it could pass tax-free to her children. The woman's husband died earlier this year with an estate worth roughly $20 million.
On June 22, Jennifer Pagnillo will lead a discussion about ways to satisfy your donors' objectives in making charitable gifts at Fairfield County's Community Foundation's Lunch And Learn – Maximizing Philanthropic Impact Through Planned Giving.
Amy Lonergan and Joshua Miller, managing director of Atlantic Trust, co-authored an article, "What is Reasonable? Determining Fiduciary Fees in Massachusetts," for Wealth Strategies Journal. The article discusses the considerations and pitfalls for an attorney when determining fees for serving as a fiduciary.
Darren Wallace and Laura A. Schuyler wrote an article, "Potential Intellectual Property Issues Emerge for Prince's Estate," for Trusts & Estates Magazine's Estate Planner eNewsletter. The article examines the complex issues surrounding Prince's valuable intellectual property rights, and offers best practices for artists in connection with their estate planning.
PLI has published "Private Clients Legal & Tax Planning Answer Book 2016", authored by Warren Whitaker, Leiha Macauley, Darren Wallace and DP alumna Natalia Murphy. The book provides practical guidance on estate planning for individuals, and addresses complex client questions related to the benefit and protection of the client's assets, dispositions to current and future family members, the uses of trusts and other vehicles, and current and future charitable donations.
On March 16th, Scott Beach and Jim Ballerano spoke at the Family Office Association Palm Beach Investment Forum.
Darren Wallace was quoted in an article, "Prince's Estate: When A Rich Icon Dies With No Obvious Heir," in Private Wealth. In the article, Wallace explains what happens to an artist's intellectual property after death. "We've seen other examples—Tupac Shakur, Michael Jackson, David Bowie, these icons who pass away with unreleased material. There's still a lot of untapped value in their estates. And the licensing that can go along with releasing the works and the value associated with their likeness and image has become, in this celebrity culture, a very valuable asset," Wallace said.
Boston, Mass., April 20, 2016 - Day Pitney LLP is pleased to announce that Individual Clients Department partner Barbara Freedman Wand has been selected as the recipient of the 2016 Boston Estate Planning Council Excellence Award. The Boston Estate Planning Council (BEPC) is a multi-disciplinary community of over 700 estate and wealth planning professionals. The award recognizes Freedman Wand’s significant contributions to the estate planning profession, and is the highest honor that BEPC can bestow upon a member of the estate planning community. The award will be presented at the BEPC Annual Gala on May 26, 2016 at the Fairmont Copley Plaza in Boston.
Barbara Freedman Wand was mentioned in an article, "People on the Move," in The Boston Business Journal. Wand was recently elected as a member to Day Pitney's Executive Board, which provides guidance to the Executive Committee and serves as a liaison to the firm's partners.
Greg Hayes was quoted in an article,"$100,000 Probate Bills? Bar Wants Lawmakers to Reduce Estate Fees", in the Connecticut Law Tribune. In the article, Hayes notes that the removal of the probate fee cap has "created a cry of anger and frustration on the part of clients and their advisers." In fact, the increase in probate fees in addition to taxes is prompting people to consider moving to another jurisdiction, like Florida.
Jaclyn O’Leary was quoted in an article, “T&E bar looks for guidance on post-death access to digital assets,” in Massachusetts Lawyers Weekly. O’Leary explains how state laws concerning decedents’ rights to access digital assets are currently unclear. The uncertainty applies to all types of digital assets in which an individual has a right or interest, she added, and includes everything from photos saved in password-protected accounts to social media accounts to email accounts. O’Leary and other trusts and estate lawyers are hopeful that a uniform law on access to digital assets for fiduciaries and a long-running state court case Ajemian v. Yahoo! Inc. may be the first steps in providing guidance for lawyers and fiduciaries on this issue.