When the ball dropped on New Year's Eve, so too was the federal estate tax dropped. Inaction on the part of the U.S. Senate means the 45 percent tax on estates of more than $3.5 million for an individual no longer applies until new legislation can be passed, which most Trust and Estate lawyers expect will happen. Those lawyers interviewed recently by the Massachusetts Lawyers Weekly, including Day Pitney Boston partner Peter Shapland, said they expect any new law to be retroactive to January 1. In the meantime they are looking for ways to assist their clients in taking advantage of the situation.
"The only certainty is that the federal estate tax [expired]," said Peter M. Shapland, a partner at Day Pitney in Boston. "Everything else is uncertain, including the advice that we are able to give our clients."
Shapland, of Day Pitney, said lawyers can advise their clients based only on what they know and "what we suspect will probably happen. But I am one of those who are sure that Congress will eventually get to it and, as estate planning advisers, we just need to be nimble."
On March 27, Warren Whitaker will be speaking on "Passing Down Your Prized Possessions: How to Avoid Fights and Fees In Your Estate," a seminar hosted by the New-York Historical Society's Planned Giving Advisory Council and held at the Robert H. Smith Auditorium in New York City.
Warren Whitaker will be serving as chair of the 15th Annual International Estate Planning Institute, hosted by the New York State Bar Association and The Society of Trust and Estate Practitioners USA (STEP USA).
On March 14, Dina Kapur Sanna spoke on a panel, "Nuts and Bolts of Domesticating Foreign Trust Structures," at the 15th Annual International Estate Planning Institute, hosted by the New York State Bar Association and chaired by Warren Whitaker.
On March 14, Emily Belfer will be speaking at the Yeshivat Chovevei Torah (YCT) Disabilities Seminar.
On January 23, Susan Ylitalo will be a guest speaker on the topic of "Estate Planning for the Business Owner" before the Estate Planning Council of Lower Fairfield County.
Day Pitney Press Release
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in two categories, "Best Private Client Law Firm" and "Best Trusts and Estates Division," for the 2019 Private Asset Management Awards.
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in the "Legal Team of the Year" private client category for the 2019 Family Wealth Report Awards.
Darren Wallace was quoted in an article, "Paul Allen's $26 Billion Estate Will Take Years to Unravel," published by Bloomberg.
On October 3, Day Pitney LLP and the Association of Corporate Counsel (ACC), Northeast Chapter – Women's Initiative co-presented a program, "The Power of Women with Wealth," held at Day Pitney's Boston office.