Liam Crane is an attorney in Holland & Knight's Boston office and a member of the firm's Private Wealth Services Group. Mr. Crane focuses his practice on domestic and international estate and tax planning. On the domestic side, he counsels high-net-worth clients and their advisors on implementing sophisticated estate planning techniques designed to effectively accumulate, preserve and transfer wealth in accordance with the client's wishes. As part of this process, Mr. Crane develops advanced estate plans and prepares a wide range of estate and tax planning instruments, including wills, revocable trusts, insurance trusts, dynasty trusts and related documents.
Mr. Crane has particular experience working with hedge fund and private equity principals in the process of planning with carried interests in a tax efficient manner. In addition, he has a substantial background in guiding the fiduciaries of complex estates through all aspects of the post-mortem administration process, from the initial opening of probate through the final distribution of property.
In the international realm, Mr. Crane represents individuals and families living in countries outside the United States, and assists them with pre-immigration planning, tax compliance, business succession planning, estate and trust administration, and family wealth preservation. He has counseled numerous international families through the process of creating multijurisdictional estate and business succession plans, in a manner that best achieves the client's goals, while effectively reducing U.S. tax and reporting consequences. Additionally, Mr. Crane has advised fiduciaries and individuals regarding the tax treatment and reporting obligations of foreign trusts with assets or beneficiaries located in the U.S. He also has significant experience assisting clients through the process of becoming tax compliant in the U.S., including through use of the Internal Revenue Service (IRS) voluntary disclosure programs.
In both the international and domestic spheres, Mr. Crane has a keen understanding of the scope of goals and concerns of wealthy clients and families, and adapts his estate and tax planning advice to address the particular concerns of each individual or family – whether the ultimate goal is to provide for future generations, support a specific charitable cause or maintain a successful business. Mr. Crane always seeks to achieve each client's objectives through a sophisticated analysis of the factors at play, including legal and tax considerations, but also issues related to family dynamics, business operations and other practical concerns.
Prior to joining Holland & Knight, Mr. Crane worked in the private client group of a large law firm located in Seattle, Wash., as well as in the international and domestic estate planning group of a global law firm, in its Connecticut and New York offices. He also worked as a judicial intern to the Honorable Judge Joseph L. Tauro of the United States District Court of the District of Massachusetts during law school, and previously served for a year as a corps member in City Year Boston – an education-focused nonprofit organization serving children in high-poverty communities.
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