Law firms serving family offices are adding specialist tax expertise to their private wealth benches, as New York-based Sterlington hires veteran estate and fiduciary accountant Fran Mehaffey into its Private Wealth practice.
Mehaffey brings more than 40 years of experience preparing and reviewing tax returns for individuals, estates, trusts and private foundations. He was previously Manager, Tax Services at Fiduciary Trust International. His arrival takes Sterlington's Private Wealth team to 19 professionals.
Charitable trusts and foundation returns
At Sterlington, Mehaffey prepares and reviews individual income, gift, estate and trust, and private foundation tax returns. He also handles returns for charitable remainder unitrusts, charitable remainder annuity trusts and charitable lead trusts, and works with clients to develop tax planning strategies. He is an Enrolled Agent, authorised to practise before the IRS (the US Internal Revenue Service) and state tax authorities.
Daniel Cooper, partner and head of Sterlington's Private Wealth practice, said Mehaffey has spent four decades on the details that determine whether a complex estate or trust is administered well. He added that Mehaffey's experience with charitable trusts and private foundation returns fills a real need for the firm's clients.
Serving family offices and closely held businesses
Sterlington's Private Wealth team advises ultra-high-net-worth individuals, family offices and closely held businesses on estate planning, wealth transfer, tax strategy and succession planning. The team is primarily based in Philadelphia and serves clients across the United States. Sterlington itself is a full-service law firm focused on complex corporate, litigation, executive compensation and private wealth matters.
For families with trusts, foundations and charitable structures, the hire reflects the value of specialist fiduciary tax know-how as wealth passes between generations.
Source: Sterlington via Business Wire.
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