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Joshua Rubenstein

Practice Chair

p / 212.940.7150

Trusts and Estates

Our attorneys provide the full panoply of trusts and estates related services on a local, national and international level. We perform sophisticated estate, tax, business, charitable and personal planning for high net worth individuals, entrepreneurs and others with complex assets or affairs. We represent both fiduciaries and beneficiaries in connection with ongoing estate and trust administration on a multigenerational basis. We are also experienced in handling contested proceedings involving estates and trusts in the courts, before taxing authorities, and before governmental and regulatory authorities.

Professionals

David M. Allen	Chicago	Associate
Mal L. Barasch	New York	Counsel
Alan M. Berry	Chicago	Partner
Victor H. Bezman	Chicago	Partner
Diane E. Blackburn	Charlotte	Associate
Lawrence B. Buttenwieser	New York	Counsel
Neil V. Carbone	New York	Partner
Alexandra B. Copell	New York	Associate
Ronni G. Davidowitz	New York	Partner
Kimberly A. DeMaro	New York	Associate
Samuel Dotzler	Chicago	Associate
Amy I. Dunphy	Los Angeles	Associate
Anthony L. Engel	Chicago	Associate
Abby L.T. Feinman	Los Angeles	Partner
Marla G. Franzese	New York	Counsel
Robert E. Friedman	New York	Counsel
Jacqueline Garrod	New York	Associate
Juli D. Gilliam	Chicago	Associate
David S. Goldstein	New York	Associate
Lauren M. Goodman	New York	Associate
Jonathan Graber	Chicago	Associate
Stuart E. Grass	Chicago	Partner
Jasmine M. Hanif	New York	Partner
Charles Harris	Chicago	Partner
Michael O. Hartz	Chicago	Partner
Carol A. Johnston	Los Angeles	Partner
Milton J. Kain	New York	Counsel
Melvin L. Katten	Chicago	Senior Counsel
Tye J. Klooster	Chicago	Associate
Dana B. Levine	New York	Special Counsel
Emily M. Litznerski	Chicago	Associate
Shelly Meerovitch	New York	Partner
Allan B. Muchin	Chicago	Of Counsel
Patience J. O'Neil	New York	Special Counsel
Yvonne M. Perez-Zarraga	New York	Associate
Kelli Chase Plotz	Chicago	Staff Attorney
Arnold I. Roth	New York	Counsel
Joshua S. Rubenstein	New York	Co-Managing Partner
Kara B. Schissler	New York	Associate
Marianna Schwartsman	New York	Associate
Philip J. Tortorich	Chicago	Partner
Beth D. Tractenberg	New York	Partner
William E. Underwood, Jr.	Charlotte	Of Counsel
Heather Van Vactor	Los Angeles	Associate
Kathryn von Matthiessen	New York	Partner
Neil H. Weinberg	Chicago	Partner
A. Victor Wray	Charlotte	Partner
Boryana V. Zeitz	Los Angeles	Associate

March 4, 2010	New FBAR Guidance and Proposed Regulations Issued
February 17, 2010	Partner Joshua Rubenstein Quoted in New York Times on Disclaiming Inheritance
February 2, 2010	U.S. Government Acts Quickly to Help Haiti with Tax Benefits for Donors
January 2010	Partner Josh Rubenstein Authors Article in Citywealth on Expiration of Federal Estate Tax
January 27, 2010	Partner Joshua Rubenstein Authors Article on Charitable Donations to Haiti
January 7, 2010	Hooray, There's No Estate Tax: Now What Do I Do?
January 2010	Partner Joshua Rubenstein Appears in Media Discussing Estate Tax
December 23, 2009	Possible One-Year Elimination of Estate and Generation-Skipping Transfer Tax in 2010: Going, Going, Gone?
December 17, 2009	Katten’s Joshua S. Rubenstein Named Among Top Wealth Management Advisors in the World for Fifth Consecutive Year
December 2009	2009 Year-End Estate Planning Advisory
November 25, 2009	Partner Joshua Rubenstein Authors Book Chapter on Trusts
September 28, 2009	Illinois Passes State QTIP Legislation—Does Your Estate Plan Need to Be Updated to Take Advantage?
September 21, 2009	IRS Announces One-Time Extension for Voluntary Disclosure
August 12, 2009	IRS Extends FBAR Filing Date
August 5, 2009	66 Katten Attorneys Named to 2010 List of Best Lawyers in America
July 28, 2009	Changes to New York Powers of Attorney Effective September 1
July 20, 2009	Associate Diane Blackburn Authors Article in North Carolina Lawyers Weekly on Estate Tax Deferral
July 2009	Partner Joshua Rubenstein Earns Recognition from Chambers USA
July 2009	Update: Josh Rubenstein, Katten Muchin Rosenman on Latin America Joshua S. Rubenstein
June 12, 2009	Katten Lands 14 Practices and 37 Attorneys in Chambers USA Guide
June 10, 2009	IRS Temporarily Relaxes FBAR Filing Requirements for Non-U.S. Persons
May 12, 2009	“FBAR” Filings Disclosing Foreign Accounts Due June 30
February/March 2009	Partner Philip Tortorich Quoted in Worth on Changes to Tax Benefits
March 20, 2009	IRS Guidance Addresses Theft Loss Deduction for Investors in Ponzi Schemes
March 18, 2009	Katten’s Joshua Rubenstein Named Among Top Wealth Management Advisors in the World for Fourth Consecutive Year
March 11, 2009	Hot Topics in the Lehman and Madoff Broker-Dealer Liquidations
March 9, 2009	Three Katten Attorneys to Be Honored as Preeminent Lawyers in U.S.
February 26, 2009	Partner Joshua Rubenstein Quoted in The New York Times on Shift in Estate Laws
2008	Estate Planning for Unmarried Partners Joshua S. Rubenstein
December 17, 2008	Katten Forms Madoff Securities Task Force
December 9, 2008	Katten’s Joshua Rubenstein Named to Worth Magazine’s Top 100 Attorneys List for Fourth Consecutive Year
December 5, 2008	Partner Philip Tortorich Quoted in Several Publications on Tax Increases for Wealthy
December 2008	2008 Year-End Estate Planning Advisory
Fall 2008	Grantor Retained Annuity Trusts—Tax-Free Plan for Family Businesses Shelly Meerovitch
November 4, 2008	Partner Joshua Rubenstein Quoted in Wall Street Journal on Obama’s Tax Plan
October 6, 2008	Congress Passes Legislation Eliminating Offshore Fund Deferrals by Investment Managers
September 23, 2008	50 Katten Attorneys Named to 2009 List of Best Lawyers in America
July 10, 2008	Katten’s National Trusts and Estates Practice Named as Finalist for 2008-09 STEP Private Client Awards
June 2008	New Expatriation Legislation Passed Unanimously by Congress and Signed by President
June 23, 2008	Katten Names Carol Johnston Co-Chair of Los Angeles Trusts and Estates Practice
April 16, 2008	Katten’s Joshua Rubenstein Named One of World’s Top Private Wealth Management Advisors by Citywealth
March 24, 2008	Katten Names 15 New Partners
February 2008	Opportunities: Cloud Over Economy Creates Estate Planning Silver Lining
December 2007	2007 Year-End Estate Planning Review
November 13, 2007	Worth Magazine Names Two Katten Attorneys to Top 100 Attorneys List
October 31, 2007	46 Katten Attorneys Named to 2008 List of Best Lawyers in America
September 27, 2007	13 Katten Partners Named Finalists for Lawdragon 500 Leading Lawyers in America
September 5, 2007	Katten’s National Trusts and Estates Practice Named Finalist for STEP Private Client Awards
June 15, 2007	Katten Lands 15 Practices and 28 Attorneys in Chambers USA Guide
April 4, 2007	Katten Names 11 New Partners
April 2, 2007	Katten’s Joshua Rubenstein Named One of World’s Top Wealth Advisors

June 23, 2010	34th Annual Advanced Estate Planning & Probate Course Presented by TexasBarCLE San Antonio, Texas
May 20, 2010	32nd Annual Estate Planners Day Presented by Queens University of Charlotte Charlotte, North Carolina
May 13, 2010	Citywealth Magic Circle Awards 2010 Presented by Citywealth Magazine London, United Kingdom
May 06, 2010	21st Annual Spring Symposia Presented by the American Bar Association Philadelphia, Pennsylvania
May 05, 2010	Estate Planners Day Presented by the Estate Planning Council of New York City New York, New York
May 05, 2010	Estate Planning for Unmarried Couples: Detriment or Opportunity? Presented by the Estate Planning Council of Lower Fairfield County Old Greenwich, Connecticut
April 28, 2010	Estate Planning for Unmarried Couples: Detriment or Opportunity? Presented by the Hudson Valley Estate Planning Council Milton, New York
April 21, 2010	International Wealth Advisors Forum Presented by Cambridge International Forums Vevey, Switzerland
March 15, 2010	Understanding Gift Taxes Presented by St. John's University School of Law New York, New York
March 03, 2010	2nd Annual Family Office Conference Presented by the New York Society of Security Analysts New York, New York
February 25, 2010	Legal Week Trusts & Estates Litigation Forum Presented by Legal Week Provence, France
February 22, 2010	Estate Tax Legislation - 2010 Is Here: What Now? Presented by The Knowledge Group LLC
January 29, 2010	Estate Planning & Administration: 25th Annual Recent Developments Presented by Continuing Education of the Bar - California Los Angeles, California
January 25, 2010	44th Annual Heckerling Institute on Estate Planning Presented by the University of Miami School of Law Orlando, Florida
January 12, 2010	Happy New Year! What's Happening and What Do I Do? Presented by the Estate Planning Council of Eastern New York Albany, New York
December 01, 2009	IBC—International Trusts Congress 2009 Presented by IIR London
November 19, 2009	7th Annual Sophisticated Trusts & Estates Law Institute Presented by the New York State Bar Association New York, New York
November 12, 2009	Legal Week's Private Client Forum 2009 Presented by Legal Week Lake Como
November 04, 2009	Advanced Tax Institute—Estate Planning Issues Presented by the Maryland Association of CPA's Baltimore, Maryland
November 03, 2009	Upcoming Estate Tax Legislation: What You Need To Know in 2009 Presented by the Knowledge Group
October 29, 2009	Unlocking Your Value—Trusts and Estates: Securing Your Future in the Current Economic Environment Presented by Katten Muchin Rosenman LLP and Rothstein Kass New York, New York
October 28, 2009	Tulane Tax Institute Presented by the Tulane Law School New Orleans, Louisiana
October 13, 2009	STEP Private Client Awards 2009/2010 Presented by the Society of Trust and Estate Practitioners London
October 13, 2009	Trusts & Estates Litigation Symposium Presented by IBC Global Conferences London
September 24, 2009	2009 Joint Fall CLE Meeting Presented by the ABA Section of Real Property, Trust and Estate Law, and the ABA Section of Taxation Chicago, Illinois
September 14, 2009	40th Annual Estate Planning Institute Presented by the Practising Law Institute New York
July 14, 2009	2009 Annual Estate Planning Conference Presented by the New York Society of CPAs New York
July 08, 2009	Form 1041: How to Prepare an Accurate Form for Tax Professionals Presented by The Knowledge Congress
June 14, 2009	ALI-ABA Estate Planning in Depth Presented by the American Law Institute, American Bar Association and Continuing Legal Education for Wisconsin Madison, Wisconsin
June 09, 2009	Estate Planning for the Middle Class Client Presented by the New York State Bar Association New York
June 08, 2009	16th Annual Family Office Forum Presented by the Institute for International Research Chicago
May 20, 2009	Foreign Bank Account Reporting and Voluntary Compliance: What You Need to Know Now New York New York, New York
May 20, 2009	International Wealth Advisors Forum Presented by Cambridge International Forums Barcelona
May 14, 2009	Recent Developments in Estate Planning and Taxation Presented by Hudson Valley Bank New York
May 14, 2009	Citywealth Magic Circle Awards 2009 Presented by Citywealth Magazine London,
March 19, 2009	Trusts and Estates Law Section Spring Meeting Presented by the New York State Bar Association Amelia Island, Florida

Case Studies

$40,000,000 worth of copyright interests of a renowned composer were owned by two trusts for the benefit of multiple generations of his family, only one of which trusts was exempt from generation-skipping transfer (GST) taxes. Following the death of the composer's children, the efficient management of the copyrights would be lost because the trustees of the non-exempt trust are required to make outright distributions of a portion of the trust's assets (including the copyright interests) to the composer's many grandchildren. What is worse, the non-exempt trust would be subject to millions of dollars in GST tax, which would require the sale of its share of the copyright interests. Our attorneys developed and implemented a plan whereby the non-exempt trust sold its share of the copyright interests to the exempt trust. As a result, the non-exempt trust will be spent down and used to support the composer's children and the exempt trust will keep control of the copyrights, which will be preserved for future generations of the composer's family without the imposition of the onerous GST taxes.
Days before she died of terminal cancer, a wife tried to trigger her husband's obligation to pay her $20 million under a post nuptial agreement by asserting that she intended to divorce him. After the wife's death, the husband refused to pay this claim. On behalf of the wife's executor, our attorneys negotiated a settlement of $16 million with the husband. The IRS nevertheless valued the wife's claim at the full face amount of $20 million for estate tax purposes. Pointing to the risks involved in the protracted litigation with the husband, our attorneys successfully argued that the claim had a fair market value of $2 million, thereby saving the wife's estate $9 million in estate taxes.
In a Will signed more than 25 years ago, a generous philanthropist left the bulk of her estate to a university. She directed that the university use the funds to provide annual scholarships of up to $3,000 to needy students. Because of the significant increase over the years in both the scholarship fund and the annual costs of education, this $3,000 restriction was no longer practical. At the university's request, our attorneys successfully petitioned the Court to lift the restriction in the Will to provide annual scholarships that cover the actual annual costs of education, thereby honoring the decedent's charitable intentions.
Members of a family with multi-jurisdictional European contacts consulted us with respect to planning for their ultimate exposure to worldwide U.S. income and transfer taxation upon their impending emigration to the U.S. The family members are beneficiaries of certain foreign non-grantor trusts, which own offshore corporations which in turn own interests in European operating businesses. In particular, the family members were concerned that they could be subject to onerous U.S. income tax, interest and penalties as a result of the trusts' indirect interests in certain U.K. businesses and on distributions to them from the trusts. Our attorneys created an innovative two-tier trust structure for the family so that property which is distributed from the family’s original trusts to those members of the family who are U.S. persons will be free from any U.S. income tax whatsoever, while their business interests and most personal assets will remain exempt from U.S. transfer taxation.
Pre-IPO Planning - A multi-national family seeking to transfer wealth to the second generation while retaining full control of a closely-held U.S. company in contemplation of a future IPO engaged us to advise them. Our attorneys restructured the ownership of the company and then created a series of trusts to hold the voting and nonvoting shares of the company for the benefit of the entire family. Subsequently, when IPO talks in fact materialized, we worked closely with investment bankers throughout the process further to facilitate the intergenerational planning, conducting sophisticated corporate restructuring to the benefit of both the family and the company. Throughout the process, our clients were able to continue to manage and benefit from the company, while moving vastly appreciated assets to the second generation transfer tax-free.
The remainder beneficiaries of various family trusts sued the trustee, asserting that the trusts generated too much income for their mother, thereby giving up growth of principal. The trustee asserted that it had invested the trust assets appropriately to meet the mother's needs. Our attorneys successfully negotiated a settlement whereby the mother satisfied her children's claims directly. As a result, the mother's estate planning goals were met transfer tax-free and the trustee obtained full releases for its actions and remained as trustee.

Related Practices

ERISA Litigation