OZ MAGAZINE 2022 Top 25 Influencers issue 2.2 | Page 32

32 OPPORTUNITY ZONE MAGAZINE | ISSUE 2 • VOLUME 2

KEVIN MATZ

SCHIFF HARDIN LLP

Kevin Matz , Esq ., CPA , LL . M . ( taxation ) is a Private Clients , Trusts and Estates partner in the New York City office of Schiff Hardin LLP . As a trusted adviser to clients with significant wealth , Matz focuses on domestic and international estate and tax planning , estate administration , and related litigation . He frequently advises investors and sponsors of QOZ Funds , and synthesizes estate , tax and QOZ planning within his legal advice . A recognized national leader in the field , in 2019 , Matz testified on behalf of the American College of Trust and Estate Counsel ( ACTEC ) before the U . S . Department of Treasury , concerning the proposed QOZ regulations . He has also presented on QOZ Funds and their estate planning considerations at several national conferences .

WHAT NEW TRENDS ARE YOU SEEING IN THE OPPORTUNITY ZONE INDUSTRY ?
I ’ m seeing an increased focus on estate and succession planning that incorporates interests in QOZ Funds as an important piece of the overall strategy . When one engages in estate planning with QOZ Fund interests , special tax rules can apply both in the context of lifetime gifts and with respect to transfers at death . Investors need to be carefully advised to avoid stepping into a tax minefield . As one example , an outright gift of a QOZ Fund interest — including to one ’ s spouse — is a triggering event of the adjusted deferred gain amount , while a somewhat similar transaction that is instead structured using an irrevocable grantor trust as the recipient of the gift can potentially avoid all such pitfalls .

KORB MAXWELL

POLSINELLI

Real estate and economic development projects are the focus of Korb Maxwell ’ s practice . His areas of concentration are on large-scale projects that utilize complex federal , state , and municipal development incentives , as well as all aspects of real estate transactions . This background of placing incentivized dollars in the real estate and corporate capital stack led Maxwell to form the firm ’ s Opportunity Zones practice group . The Polsinelli Opportunity Zones practice group was one of the first created , and through his leadership , Maxwell has created a multidisciplinary team that is helping clients navigate the evolving regulations .

WHAT NEW TRENDS ARE YOU SEEING IN THE OPPORTUNITY ZONE INDUSTRY ?
Polsinelli continues to be active in Opportunity Zone-based real estate deals daily . Opportunity Zone operating company deals ’ speed and pace are increasing throughout the market and with sophisticated Opportunity Zone investors . These deals are inherently the most complex but are at the core of law and increasing employment in these distressed census tracts . The intersection of Opportunity Zone and impact investing also seems to be picking up speed and intensity , and it is a trend we hope to continue to nurture as a firm .
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