Press Room

July 12, 2012

Seminar: Estate, Gift and Income Tax Planning in 2012 and Other Relevant Issues for Private Equity Principals

WTAS and McDermott Will & Emery to host the seminar: 
Estate, Gift and Income Tax Planning in 2012 and Other Relevant Issues for Private Equity Principals

Wednesday, July 25, 2012

4:00 – 4:30 pm EDT           Registration and networking
4:30 – 6:00 pm EDT           Program
6:00 – 7:30 pm EDT           Reception

McDermott Will & Emery LLP
340 Madison Ave. (between 43rd and 44th Streets)
New York, NY  10173-1922
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To register, please click here.

It is imperative that private equity principals plan ahead for the estate, gift and income tax changes that are available to them in 2012, but that may expire at the end of the year.  For instance, an individual may be able to give away $5.12 million worth of assets without any gift tax exposure in 2012, but after that the exemptions that make this possible are scheduled to significantly decrease.  Additionally, the income tax provisions that are scheduled to expire or change this year require pre-2013 planning.  Given the uncertainty of the political and tax landscape, it is imperative that the wealthiest Americans educate themselves on these changes and plan accordingly to minimize the amount of tax they pay when the Bush tax cuts expire. 

Please join private equity leaders from McDermott Will & Emery and WTAS at a complimentary seminar that will provide tax accounting and tax law perspectives on the most important estate, gift and income tax issues that owners and promoters of private equity firms should be focused on.

Topics to be covered include:

Estate and Gift Tax Planning

  •          The three federal transfer taxes—estate, gift and generation-skipping—in the context of private equity firms
  •          Common approaches to planning and the costs of not planning
  •          The vertical slice rule and how it can be used to minimize the gift tax risk under Section 2701 of the Internal Revenue Code     
  •      Incomplete gift risk for transfers of unvested interests
  •           Management fee offset arrangements and how to protect them from gift tax risk
  •           Investment control without estate tax risk

Income Tax Planning

  •         Legislative update–What happens if Bush tax cuts expire?
  •         Planning in 2012, including leveraged recapitalizations, taxable debentures and other tax minimization techniques
  •         Income tax risk of transferring carried interests
  •         Update on self-employment tax for LLC members
  •         Application of the new Medicare tax and its affect on fund managers
  •         State and local tax issues
  •         Guidance on navigating the “Non-Resident” audit


Marilyn Calister, Managing Director, WTAS
Amy Heller, Partner, McDermott Will & Emery
Richard Jahn, Managing Director, WTAS
Elyse Kirschner, Partner, McDermott Will & Emery
Jay Rivlin, Partner, McDermott Will & Emery
Joe Toce, Managing Director, WTAS

MCLE credit is pending in California, Illinois, New York and Texas.  A Uniform Certificate of Attendance will be made available to participants requesting MCLE credit in all other states.  CPE credit is pending in Illinois and California.  A Uniform Certificate of Completion will be made available to participants requesting CPE credit in all other states. 

About WTAS
WTAS is one of the largest independent tax firms in the United States, providing a wide range of tax, valuation, financial advisory and related consulting services to individual and corporate clients across the country.

About McDermott Will & Emery
McDermott is a premier international law firm with a diversified business practice.  Our private client practice serves high wealth individuals, families, private equity firms and closely held businesses.  We were named “Law Firm of the Year” in 2012 by U.S. News–Best Lawyers.