Private Client Insights Newsletter Issue #1 2020

PrivateClient Insights TAX PLANNING, TRUSTS & ESTATES AND MULTIGENERATIONAL NEEDS

ISSUE #1 • FEBRUARY 2020

IN THIS ISSUE

2 The Fallout from the NEW TAX LAW Joseph Giampapa & Russell Ephraim 5 MAXIMIZE YOUR CHARITABLE CONTRIBUTIONS to Minimize Your Tax Liability Jennifer Leelaviwatana 8 SUCCESSION PLANNING: Tax Considerations When Exiting Your Business Dannell R. Lyne 10 Did You Make a Taxable Gift in 2019? Don’t Overlook GIFT TAX FILING REQUIREMENTS When Funding Trusts Christopher D. Wright 13 The Future of FAMILY OFFICE TECHNOLOGY Dean Nelson 15 LEVERAGE OUR EXPERTISE

Welcome. Welcome to the inaugural issue of Marks Paneth’s Private Client Insights , our new newsletter providing you with advice and guidance on matters related to tax planning, trusts & estates, and multigenerational needs. As the Partner-in-Charge of the High-Net-Worth Group at Marks Paneth, I appreciate the many individual, family and business challenges you face in this highly dynamic environment. Our motto is “Success Is Personal,” and this newsletter is one of the many ways we seek to be a resource for you as you navigate these challenges to achieve success. Tax planning is always top of mind for our clients – as well as for us. As I survey the tax world today, I take to heart the lessons learned after the first full year of the Tax Cuts and Jobs Act, despite the political uncertainties as we enter this election year. Regardless of what the future holds, we will continue to be right by your side, developing strategies and recommendations to help you protect your assets and accomplish your goals. I welcome your questions and comments on how any of the insights in this newsletter will affect you, and look forward to providing additional informative and topical content in upcoming issues.

JOSEPH GIAMPAPA PARTNER-IN-CHARGE, HIGH-NET-WORTH GROUP 212.201.3165

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