Von Sanborn and David Silvian were quoted in an article, "You, Taxes and 2018: What to Expect from the Tax Bill," published in Private Asset Management magazine (PAM). The article discusses ways the new tax legislation may affect the private wealth industry.
"This is the most comprehensive tax reform we've seen in three decades," Sanborn told PAM. He noted that the Treasury Department and Internal Revenue Service still need to create the regulatory scheme to execute the legislation.
"It is going to be interesting to see what guidance the IRS and Treasury issue," Sanborn said. He also discussed "significant changes in the international tax front," which will make multinational corporations more competitive globally. "You will be seeing a large repatriation of cash."
Silvian told PAM that the changes concerning the gift and estate tax, which doubles the exemption from $5.6 million to $11.2 million, is already generating interest. One impact of the legislation could be uncertainty about the exemption expiring at the end of 2025, leaving the lower $5.6 million exemption in place.
He said the result could be similar to what happened the last time there was uncertainty surrounding the estate tax. "In 2012, people were worried that exemption was going away entirely, so people were rushing to get things done by the end of the year," he said. "We could end up seeing the same situation in 2025."
Stephen Ziobrowski, Andrew Wogman, Carl Merino, Aaron Kriss and Matthew Woodbury authored an article, "Check the Box Elections for Non-U.S. Business Entities," which was published in the Journal of International Tax, Trust and Corporate Planning.
Shawn Wooden and Khiree Smith authored an article, "Consolidation of Public Pension Plan Investment Management: Is This a Solution to the Problem?," for Bloomberg Law's Pension & Benefits Daily.
Steven Cash co-authored an article, "Evolution of a Valuable Tool for Attorneys: Business Intelligence Practitioners," for the New York Law Journal.
Eliza Fromberg authored an article, "M&A Brokers - No Safe Passage Through State Registration Requirements" for the ABA Business Law Section's Blue Sky Bugle.
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 2018 Private Asset Management Awards.
On December 7, Day Pitney, ICSGroup and CohnReznick co-sponsored "Launching a Private Fund: What You Need to Know."
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in two categories, "Legal Team of the Year" and "Family Wealth Counseling," for the 2018 Family Wealth Report Awards.
Eliza Fromberg was quoted in an article, "House Bills Could Make IPOs And Private Offerings Easier," published in Law360.
Von Sanborn, Darren Wallace and Stephen Ziobrowski authored an article, "Key Tax Considerations For High Net Worth Family Offices," published in Law360.