Big Law Trusts & Estates Work Risky But Rising

Private Wealth Services Co-Chair Christopher Boyett spoke with The American Lawyer about the uptick in trusts and estates work for large law firms. Previously, many trusts and estates practitioners worked in boutique firms, but other firms are recognizing the opportunities in this area and establishing their own private wealth services practices. A large intergenerational transfer in wealth, more time to plan during the pandemic and changing tax laws have all combined to create increased legal work for lawyers. Mr. Boyett also attributed this change to the "progression from corporate deals run out of Wall Street firms to private equity deals spreading wealth to fund founders around the country, and now these fund founders creating private investment offices."

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