Environmental justice – a mix of environmental and civil rights law and policy – is receiving increased attention in the Obama Administration, bringing with it challenges and opportunities for municipalities, facilities and others operating in low-income and minority communities. This alert discusses various aspects of environmental justice and the implications for the Obama Administration. Federal agencies, including the DOJ and EPA, have concluded that low-income and minority communities bear a greater environmental risk than the general population. Now is the right time to take stock of your environmental justice situation and take any prudent proactive steps.
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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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