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.
Day Pitney Generations Newsletter
Day Pitney Generations Newsletter
Day Pitney Generations Newsletter
Day Pitney Generations Newsletter
Day Pitney Generations Newsletter
Day Pitney Generations Newsletter
Day Pitney Trusts and Estates Partner Tasha K. Dickinson has been named to South Florida Business & Wealth's 2024 Prestigious Women Awards list.
Day Pitney Press Release
On April 10, Day Pitney Family Office practice chair R. Scott Beach was a panelist Botoff Consulting's Family Governance Compensation Report webcast alongside Dennis Jaffe (BanyanGlobal Family Business Advisors) and Trish Botoff.
Day Pitney's Executive Committee, Executive Board and department leadership changes were featured on CityBiz.
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