STUDY GROUP Webinar: "Corporate Transparency Act and Common Law Trusts"
Details: The federal government has developed yet another tool to help crack down on money laundering--this time by documenting who owns closely held companies. Private companies that are accustomed to the privacy that state law has afforded them will now have to provide key information to the federal government about who actually owns the companies.
Common law trusts aren’t directly subject to the CTA, but the CTA will impact trust administration if a trust holds an interest in an entity that’s subject to the CTA. This potentially includes thousands of trusts that own interests in entities formed in the United States and foreign entities registered to do business in the United States, including closely held businesses, limited liability companies (LLCs) and partnerships.
Speakers: Jocelyn Borowsky is a fellow of the American College of Trust and Estate Counsel, practices in the areas of estate planning, estate and trust administration and fiduciary litigation primarily in Delaware. A large part of her practice involves implementation of sophisticated trusts, trust modification and strategic estate, tax and business planning. Beth King is a Managing Director and President of Brown Brothers Harriman Trust Company of Delaware, N.A. In her role, Beth helps families with their wealth preservation and philanthropic goals, and oversees all aspects of trust administration for the trust company.
If you wish to attend, please RSVP online at www.epcnassau.org
or to our Committee Chairperson:
Michael P. Ryan, Esq.
- August 2023 Study Group Article - Corporate Transparency Act Just Got Real for Common Law Trusts[678
- August 2023- Study Groupn Materials- CTA - BOI Report Proposa
- August 2023 Study Group Materials- FinCEN Final Rule CTA.PDF (1MB)