Chambers High Net Worth Webinar: US Tax Reform and its Impact on Family Offices with Holland & Knight
About this webinar
During this session Chambers High Net Worth Editor, Simon Christian, will be joined by David W. Thal, Brent Berselli and Sean Tevel, partners in the Private Wealth Services practice at Holland & Knight.
Key discussion points will include:
​​​​​• Inbound investment into US through non-US family offices
• Non-US persons establishing family offices in the US
• US family offices and tax reform considerations
• Family office structuring after Tax Reform Act of 2017 (TCJA) eliminated most deductions for investment-related expenses
• Structuring business model to support deductibility of expenses
• Discussion of planning with C Corporations for both US-based and non-US family offices
• Alternative to C Corp structure using US Tax Court decision in Lender Management LLC, T.C. Memo 2017-246
• Potential for increased SEC/regulatory oversight on family offices (H.R. 4620, introduced by U.S. Rep Alexandria Ocasio-Cortez)
Event Details:
3:00 PM - 3:45 PM
Simon Christian, Editor - High Net Worth - Chambers and Partners
Simon was a researcher and later a deputy editor on the Chambers UK team, before becoming editor of the Chambers High Net Worth guide. He has an LLB in Laws from University College London. He also studied for the BPTC at City Law School and was Called to the Bar at Middle Temple.
David W. Thal, Partner - Holland & Knight
David Thal is an attorney in Holland & Knight's Stamford office and is a member of the firm's Private Wealth Services Group. Mr. Thal focuses his practice on estate planning, estate and trust administration, charitable planning, family office services and tax matters. Mr. Thal represents a diverse client base, but focuses his practice serving as counsel to ultra-high-net-worth families and their family offices, including hedge fund founders and the founders of multinational closely held businesses. He offers estate planning strategies customized to his clients' often complex circumstances. His recent representations include leading the estate settlement process for a large family office client and managing the day-to-day affairs for institutional-size domestic and international trust structures.
Brent Berselli, Partner - Holland & Knigh
Brent Berselli is a partner in Holland & Knight's Portland office and is a member of the firm's Private Wealth Services Practice Group. Mr. Berselli serves as general counsel to wealthy individuals, their families and their businesses throughout the United States to design and implement sophisticated strategies integral to family wealth planning. High-net-worth individuals, including principals of private equity, venture capital and hedge fund firms, private and public company executives, real estate developers, entrepreneurs and business owners, turn to Mr. Berselli for advice and counsel in all aspects of wealth transfer strategies, income and transfer tax planning, philanthropy and business succession.
Sean Tevel, Partner - Holland & Knight
Sean Tevel is a Miami private wealth services attorney who focuses his practice primarily on tax planning for high-net-worth individuals, as well as tax planning for multinational corporate and trust structures. Mr. Tevel advises foreign and domestic clients on U.S. federal income, gift and estate tax matters associated with their cross-border investments, including their U.S. real estate investments and business ventures. Mr. Tevel has significant experience advising clients with respect to corporate and partnership taxation, the application of the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) and tax treaty issues. He also is well-versed in domestic and offshore tax compliance, including providing advice with respect to the Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS) and withholding tax compliance. Mr. Tevel is an adjunct professor in the Juris Doctor and Taxation of Cross-Border Investment LL.M. programs at the University of Miami School of Law. Prior to joining Holland & Knight, Mr. Tevel was a tax attorney in the Miami office of an international law firm.
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