Darren Wallace was quoted in an article, "Paul Allen's $26 Billion Estate Will Take Years to Unravel," published by Bloomberg. In the wake of Microsoft co-founder and billionaire Paul Allen's passing, the article discusses various considerations for his vast holdings at family office Vulcan Inc., which include real estate, art collections, professional sports teams and venture capital stakes. "Even though this is a person's life and their personal holdings, it's almost like the dissolution of a major corporation," Wallace told Bloomberg. He continued, "Even if things go along as you might expect, it could easily be three to five years." The article also noted the legal transfer of Paul Allen's holdings will likely take a considerable amount of time. Wallace commented further that a large and complex estate like Allen's – even when well-prepared for a succession – is likely to face an Internal Revenue Service audit, if only because of its size and complexity.
Dan Gottfried spoke on a panel, "The Qualified Business Income Deduction for Real Estate Investors and Professionals," at the 31st Annual Real Property, Trust and Estate (RPTE) National CLE Conference, presented by the American Bar Association and held in Boston, MA.
Dina Kapur Sanna will be speaking on two panels at International Estate & Tax Planning 2019, a conference presented by the Practising Law Institute and held in New York, NY.
Carl Merino spoke on a panel, "Non-Residents Acquiring Real Estate: Compare & Contrast Between the U.S. & UK," at the U.S.-UK Tax Planning conference, presented by KNect365 and held in New York, NY.
Day Pitney LLP hosted its annual invitation-only Palm Beach Family Office Forum at the Eau Palm Beach.
Day Pitney Advisory
Daniel Gottfried, chair of Day Pitney's International Transactions practice was quoted in an article, "Who Can You Trust in the Cryptocurrency Economy?," published by the Robb Report.
Jared Ross was quoted in an article, "Ultra-Rich Scout Direct Real Estate Investments," published by Banker & Tradesman.
Day Pitney Press Release
Scott Beach, chair of Day Pitney's Family Office Practice, was quoted in an article entitled "Less Than 20% of Family Offices Have Robust Succession Plans," published by Private Asset Management.
Von Sanborn was featured in an article, "Tax Screw-Ups and People Problems: Experts Reveal Biggest Blunders of Rich Families," published by Bloomberg.