As the global economy continues to feel the disruptive effects of the COVID-19 crisis, now may be an appropriate time to consider potential estate planning opportunities: Low Interest Rates: The IRS prescribes minimum interest rates that taxpayers must charge on most loans (including installment sales) to avoid gift tax consequences. These IRS rates are now…
JEFFREY B. KOLODNY
PARTNER
Jeff Kolodny advises clients on complex international and domestic estate planning and administration, with a focus on wealth preservation through effective tax planning, structuring, and personal planning for high-net-worth individuals, multinational families and family-owned businesses.
Practices
About
Jeff handles a wide range of estate planning, tax, and other legal matters for international and domestic clients. He frequently advises clients with respect to their wealth transfer and tax planning, obligations as fiduciaries, and rights as beneficiaries of estates and trusts. He also represents fiduciaries and beneficiaries in accounting proceedings, will contests, and other Surrogate’s Court proceedings.
Jeff frequently counsels managers of hedge funds and private equity funds in connection with their transfer tax planning and also advises family-owned businesses regarding the development and implementation of business succession plans.
For international clients, Jeff often creates plans and structures that achieve wealth transfer and other objectives while minimizing taxes when multiple legal and tax systems apply. He frequently represents foreign individuals acquiring or owning U.S. property, individuals and fiduciaries with assets in multiple jurisdictions, and U.S. nationals with assets abroad.
Jeff is a full member of the New York Chapter of the Society of Trust and Estate Practitioners (STEP). Jeff is also a member of the Board of Trustees of The Hudson Guild, a 501(c)(3) multi service community organization serving those who live, work or go to school in the Chelsea neighborhood of Manhattan, with a focus on those in need.
Jeff has been recognized as a leading lawyer in Trust and Estates by “Best Lawyers” since 2018.
Education
New York University School of Law (L.L.M., 1998)
New York University School of Law (J.D., 1995)
SUNY Albany (B.S., 1989)
Bar Admissions
New York
Accolades
Best Lawyers – Trusts and Estates
2019
Publications
To Do: Year-End Estate Tax Planning
SmartPros, December 2018
Unpredictable Treatment – Should trusts be used in jurisdictions unfamiliar with the concept?
Trusts & Estates, November 2011
The New Expatriation Tax Regime
New York Law Journal, January 2010, Co-Authored with Rachel E. Small
Ties to U.S. and Canada
New York Law Journal, September 2007, Co-Authored with Michael Galligan and Rachel E. Small
Modern Inheritance Develops in China
New York Law Journal, February 2007, Co-Authored with Hao Wang and Michael W. Galligan
Insights
Current Estate and Gift Tax Planning Opportunities
July 8, 2020Client AlertsSECURE, CARES and Retirement Account Distributions in 2020
June 26, 2020Client AlertsBoth the SECURE Act enacted in December 2019 and the CARES Act enacted in March 2020 changed the rules governing distributions from retirement plans and IRAs. Under the SECURE Act, retirement plan participants and IRA owners no longer have to begin taking distributions until April 1 of the calendar year after they reach age 72…
Helping Clients Navigate COVID-19 (Updating)
June 10, 2020Client Alerts, FEATURED PUBLICATIONKleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the…