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Private Wealth Services: Newsletter - November 2009

There has been considerable debate on Capitol Hill this year over the taxation of a Carried Interest in the context of a Private Equity Fund (PEF). At the same time, there has been public discussion of the role that the private equity industry will have in our economic recovery. In the realm of estate planning, PEF Principals possess unique opportunities to shift the performance of their interest in a PEF to future generations – potentially resulting in very significant estate tax savings. This article will review the basic PEF structure, describe the nature of a Principal’s interest in a PEF and indentify wealth transfer techniques that should be considered by a Principal.

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Chambers USA Lists Holland & Knight Among Nation’s Top Law Firms, Earning Top Spots in Multiple Practice Areas and Markets

More than 100 Holland & Knight attorneys named America’s Leading Lawyers in 2009 Chambers USA Guide.

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Labor, Employment and Benefits
Newsletter - May 2008
 
In this Issue...
 
New York - New Safety Requirements for Public Construction Sites
 
May 14, 2008
 
Howard Sokol - New York

The newly added section 220–h to New York’s labor law takes effect on July 18, 2008. It requires that all laborers, workers and mechanics working on public work projects to which the state or a municipality is a party, and that total $250,000 or more for construction, reconstruction, repair or maintenance, be certified as having completed a construction health and safety training course of at least 10 hours duration. The course must be approved by the United States Department of Labor’s Occupational Safety and Health Administration. Moreover, section 220-h requires that all advertised bids and contracts for any work on such projects contain a provision setting forth this certification and training requirement. Such training is to be completed prior to performing any work on a project.

The Department of Labor is authorized to promulgate rules and regulations necessary for the implementation of the new law. Among some of the areas of clarification, it is hoped that the regulations will address whether the new requirements are limited to projects commencing after the July 18 effective date and whether, for example, the new requirements will apply with respect to those who have a tangential connection to a jobsite (e.g., a truck driver making deliveries to or picking up materials from the site). We will continue to keep you updated on the status of the regulations.

For more information, email Howard Sokol at howard.sokol@hklaw.com or call toll free, 1.888.688.8500.

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