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.
After building and sustaining a family business through countless hours of hard work and years of emotional and financial commitment to its success, many business owners neglect to plan and prepare adequately for how they are going to transition the legacy they have created.
Day Pitney will expand its East Coast presence through a merger with Florida-based law firm Chapin, Ballerano & Cheslack.
Each year, certain estate, gift and generation-skipping transfer (GST) tax figures are subject to inflation adjustments.
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.
Jennifer Pagnillo was featured in the podcast,"PODCAST: Should you ‘like’ Facebook founder’s philanthropy?" in Massachusetts Lawyers Weekly. In the podcast, Pagnillo discusses how Facebook founder and CEO Mark Zuckerberg and his wife, Priscilla Chan, recently announced that they would donate 99 percent of their Facebook fortune to a limited liability company. She addresses the advantages to creating such an entity, instead of a 501(c)(3) charitable organization, and some of the concerns as well.
Stamford, Conn., January 1, 2016 – Day Pitney is pleased to announce that the merger with Florida-based law firm Chapin, Ballerano & Cheslack has closed, allowing the firm to expand its East Coast presence.
Warren Whitaker was selected as a recipient of the STEP Founder’s Awards for 2015, given in recognition of outstanding voluntary contributions to STEP (the Society of Trust and Estate Practitioners). Whitaker has served as Chair of STEP New York and STEP USA and as a member of the STEP Worldwide Council. He also founded and chairs the STEP International Estate Planning Institute, now in its twelfth year. He has been instrumental in helping increase the membership of STEP USA from under 100 members in 2004 to over 1,000 today.
Day Pitney was featured in an article, "CT law firms follow tax-averse clients south," in the Hartford Business Journal. Gregory Hayes and Scott Beach were both quoted in the article, which examines Day Pitney's recent merger with long-time South Florida firm Chapin, Ballerano & Cheslack as part of a larger legal industry trend. More northeast law firms such as Day Pitney are expanding their business to Florida as many more high-net-worth clients and family business owners are relocating to states with low taxes.