1,291 results found

This is an historic tax jurisdiction case in which the U.S. Supreme Court addressed whether the due process clause of the U.S. Constitution prohibits states from taxing trusts based solely on trust beneficiaries' in-state residency.

Pryor Cashman is representing Spring Mountain Capital, LP, a New York-based private investment management firm focused on alternative asset investing, in connection with a transaction pursuant to which affiliates...

The SEC named Adam S. Aderton as the new co-chief of the Asset Management Unit's Enforcement Division. Mr. Aderton, who replaces Anthony Kelly, will share the position with Dabney O'Riordan.

Sound Point Capital, an alternative asset management firm, recently acquired the direct lending firm of CVC Credit. Sound Point Capital was represented by a Pryor Cashman team led by Bertrand Fry with Ethan Lankri.

Brian Lucareli and John Melko explore the intricacies of Delaware Asset Protective Trusts, examining statutory exceptions and how enforcement varies across different states. The discussion provides families and advisors with practical insights into evaluating asset-protection planning strategies.

This article discusses how to design and implement lifetime transfers, including gifting strategies and provisions that are often overlooked by advisors.

With international commerce and opportunities expanding rapidly across Asia, the largest increase in wealth creation has been seen in the region.

Over the last several months, the U.S. Senate Finance Committee, as part of its tax reform efforts, has issued bipartisan option papers containing reform proposals in all areas of the tax code.

Family offices face unique challenges when it comes to managing conflict and preserving relationships across generations. Without clear governance structures...

July 25, 2019 (New York) – International law firm Proskauer released its mid-year private credit highlights as an accompaniment to its annual Private Credit Insights report.

Retired basketball star Kevin Garnett is suing his accountant, Michael Wertheim, alleging that he helped wealth manager Charles Banks IV steal $77 million from Garnett.

Any compensation the owner receives is subject to FICA tax, which imposes an equivalent burden. And the IRS frequently attacks owners who receive cash distributions from an S corporation...

Private placement life insurance (PPLI) has been characterized as a tax loophole for the ultra-wealthy, but is that characterization accurate? This analysis examines the mechanics, regulatory framework, and evolving accessibility of PPLI, challenging common misconceptions about how these insurance products actually work and who can benefit from them.

As we have previously discussed, after the failure of Silicon Valley Bank ("SVB"), the FDIC is operating the Silicon Valley Bridge Bank, N.A. ("Bridge Bank") in many ways as if it's business as usual to help preserve...

As a further indication of the SEC's focus on the asset management industry, on November 1, 2019 the Commission formally established an Asset Management Advisory Committee.

As discussed in a prior post, one of the helpful provisions recently added to federal estate tax law allows a surviving spouse to use any "leftover" or "unused" federal estate tax exclusion amount of a deceased spouse.

The insurance-dedicated separately managed account market has reached a critical inflection point, moving from theoretical concept to scaled implementation for ultra-high-net-worth clients and family offices. As distribution channels expand across broker-dealers, independent RIAs, and major bank platforms, the competitive landscape is being reshaped by operational infrastructure and multi-channel accessibility rather than investment performance alone.