International tax partner Von Sanborn was quoted in an article, "Six Family Offices Themes Likely to Set the Agenda in 2019," published by Fund Intelligence. The article discusses current trends and developments among the family office and high net worth community, including impact investing, wealth transfers, and qualified opportunity zones.
Sanborn, a member of the firm's Family Office practice, told Fund Intelligence "Once the applicable regulations are more fleshed out, we are likely going to see a significant amount of investment being made in qualified opportunity zone funds to take advantage of the tax benefits, which essentially are the deferral of tax on capital gains invested in opportunity zones until 2026 and the potential for no tax on the appreciation thereafter." He continued, "People selling real estate or other illiquid assets such as art will be moving to these funds. It will be a thoughtful allocation not just a decision point on deferring tax."
On April 25, Boston attorneys Bill Pezzoni, Jared Ross and Justin Hannan will present on "Understanding Opportunity Zones: Investor Benefits," a program hosted by the Marlborough Economic Development Corporation (MEDC) in conjunction with the City of Marlborough, MA and Day Pitney LLP.
Day Pitney Alert
Carl Merino authored an international practice feature article, "U.S. Owners of Foreign Corporations Face New Hurdles," published in the April 2019 issue of Trusts & Estates magazine.
Carl Merino co-authored an article, entitled "Beneficiaries of S Corp Stock," published in the March 2019 edition of the New York State Bar Association (NYSBA) Journal.
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).
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.
Von Sanborn was quoted in an article, "U.S. Family Offices Face Increasing Competition from Foreign Families," published by Private Asset Management.