The Firm’s international private client group counsels U.S. and foreign individuals and families, owners of closely-held businesses, foundations and charitable organizations on a broad range of tax and estate planning matters. It also assists clients in administrative, judicial and legislative matters as well as transnational investments involving cross-border issues.

In guiding clients to appropriate choices, the Firm maintains both a personal and a corporate focus. Recommendations are made with an understanding of individual and family needs as well as of the nature of the businesses affected. A wide range of creative solutions may be tailored for international, federal, state and local tax concerns, business and philanthropy structuring and control questions, and retirement planning problems.

Techniques used are designed to ensure the accumulation, maintenance and transfer of family wealth while enhancing liquidity. The Firm employs the most advanced estate planning and investment techniques. Appropriate life insurance, wills and durable powers of attorney, tax-saving devices such as family partnerships, charitable remainder trusts, charitable lead trusts, gift annuities, personal-residence trusts and other trusts that permit the grantor to retain control of assets and minimize taxation are used in designing plans for our individual clients.

The international private client group is comprised of partners from the Trusts & Estates, Corporate, Tax and Litigation Departments who collaborate to craft appropriate legal responses to the wide range of client needs. Long-standing relationships enhance the ability of the attorneys in this group to counsel their clients and advise them on business matters. Most members of the group speak several languages and have been trained in the Anglo-American as well as the Civil Law systems.  

Services provided by the international private client group in the areas of estate planning and administration, financial and tax planning, not-for-profit organizations, partnerships and S-corporations, planned giving and litigation include:

• Advising high networth individuals on how to structure their affairs internationally, taking into account applicable U.S. and foreign income, estate and gift tax considerations, as well as asset protection devices and international exchange of information agreements.
• Achieving U.S. tax deferral for foreign activities conducted through U.S. controlled foreign corporations.
• Minimizing the level of U.S. taxation of foreign investments.
• Determining how a foreign individual or entity should structure his affairs to acquire, conduct or restructure U.S. investments.
• Advising on how to use bilateral income tax treaties to reduce tax burdens.
• Restructuring foreign multinational groups to achieve greater tax efficiencies.
• Advising and defending against IRS requests for foreign-based documentation.
• Creating an estate plan that includes asset protection features.
• Creating and coordinating a reporting structure for retrieval of investment information formatted for client use.
• Representing private banking departments in the structuring of international products.
• Representing banks in developing customer forms, taking money-laundering issues into account.

General Family Planning

• Developed mission statements and structures for family governance for current and future family members where family members will be (or will not be) involved in the family businesses.
• Established a private trust company for an international family where the five members of the nuclear family were citizens of five different countries (including the United States).
• Devised a global plan for a major European family with global business operations and key members of the family being United States citizens.
• Devised a global plan for a Latin American family group of four brothers who jointly owned several major multinational businesses. The nuclear family consisted of approximately 30 persons, many of whom had two or more nationalities. The plan included detailed governance procedures and tax planning in the multiple jurisdictions.
• Represented foreign clients establishing Delaware dynasty trusts. In a number of instances, the Delaware dynasty trusts are foreign trusts (for United States tax purposes) that will migrate to the United States upon the occurrence of specified future events.
• Represented clients who are married to United States persons. This required planning for United States tax consequences, including addressing community property issues, United States tax issues such as Passive Foreign Investment Company, Foreign Personal Holding Company, Controlled Foreign Corporation and United States gift and estate tax issues.

Planning for United States Assets and Investments

• Represented a North African client in acquiring a significant interest in a U.S. internet company.
• Very frequently have represented foreign clients in acquiring U.S. real estate, either for personal use or as an investment.
• Represented a French client that purchased a U.S. business that was in bankruptcy.
• Represented clients that invested in derivatives or “special” products offered by banks or securities firms.

Planning for non-United States Assets and Investments

• Represented an individual client that created a US$90 million private non-U.S. fund to purchase at a discount debt instruments issued by East European companies.
• Represented two Mexican brothers who own a major non-U.S. resort company in financing their company. The financings, which approached US$200, included a global issuance of warrants and debt as well as an accounts receivable securitized financing.
• Represented a Chines-born Australian citizen in establishing a diversified computer business in the United States. We then represented the client in taking both its Australian and United States companies public.

Controversies

• Represented the heirs of (and Swiss bank acting for) an Italian decedent who died owning a substantial number of shares in a U.S. mutual fund. Arranged for the U.S. tax authorities to release the U.S. tax liens against such shares.
• Represented foreign clients in any number of commercial disputes including arbitration and court proceedings.

Partners & Counsel
The following partners and counsel practice in this area:

• J. Dinsmore Adams (New York)
• Marco A. Blanco (New York)
• William L. Bricker, Jr. (New York)
• Antoinette Ceisler (New York)
• Carl A. Ruggiero (New York)
• Robert W. Sheehan (New York)
• Remy Rodas (Stamford)
• Daniel Gilioli (Milan)