Key Takeaways
- • Transfers of fund interests in private equity, venture capital, and hedge funds represent a complex and frequently misunderstood area of estate planning that generates significant practitioner uncertainty and anxiety.
- • David A. Handler, a partner at Kirkland & Ellis LLP and recognized expert in trusts and estates law, has authored and lectured extensively on this specialized practice area, addressing gaps in advisor knowledge and client understanding.
- • The topic spans critical intersections of tax planning, estate administration, and alternative asset management, requiring specialized expertise from practitioners serving high-net-worth clients with concentrated fund holdings.
Summary
Transfers of interests in alternative investment funds—including private equity, venture capital, and hedge fund positions—constitute one of the most poorly understood and anxiety-inducing areas within estate planning practice. This complexity reflects the specialized nature of fund structures, the tax implications of transferring illiquid interests, and the operational constraints imposed by fund documentation and partnership agreements.
David A. Handler, a partner in the Trusts and Estates Practice Group at Kirkland & Ellis LLP, has emerged as a leading authority addressing this knowledge gap. Handler holds credentials including fellowship with the American College of Trust and Estate Counsel (ACTEC), Distinguished Accredited Estate Planner status through the NAEPC Estate Planning Hall of Fame, and consistent recognition in Chambers USA's top tier for wealth management. His professional standing reflects deep expertise in navigating the intricate intersection of alternative asset structures and wealth transfer strategies.
Handler has contributed significantly to practitioner education through authorship of multiple estate planning publications, including the co-authored book "Drafting the Estate Plan: Law and Forms," and regular contributions to leading industry publications including Trusts & Estates Magazine, where he writes the monthly "Tax Update" column. His work has appeared across prominent journals including the Journal of Taxation, Tax Management Estates, Gifts and Trusts Journal, and Estate Planning Magazine. Beyond publication, Handler serves as a frequent lecturer at professional education seminars and maintains editorial roles on advisory boards focused on estate planning and taxation.
For practitioners and institutional advisors serving clients with concentrated alternative fund holdings, Handler's research and professional guidance addresses critical planning questions surrounding valuation, tax treatment, transfer restrictions, and succession strategies specific to illiquid partnership and fund interests.
David A. Handler, a partner in the Trusts and Estates Practice Group at Kirkland & Ellis LLP, has emerged as a leading authority addressing this knowledge gap. Handler holds credentials including fellowship with the American College of Trust and Estate Counsel (ACTEC), Distinguished Accredited Estate Planner status through the NAEPC Estate Planning Hall of Fame, and consistent recognition in Chambers USA's top tier for wealth management. His professional standing reflects deep expertise in navigating the intricate intersection of alternative asset structures and wealth transfer strategies.
Handler has contributed significantly to practitioner education through authorship of multiple estate planning publications, including the co-authored book "Drafting the Estate Plan: Law and Forms," and regular contributions to leading industry publications including Trusts & Estates Magazine, where he writes the monthly "Tax Update" column. His work has appeared across prominent journals including the Journal of Taxation, Tax Management Estates, Gifts and Trusts Journal, and Estate Planning Magazine. Beyond publication, Handler serves as a frequent lecturer at professional education seminars and maintains editorial roles on advisory boards focused on estate planning and taxation.
For practitioners and institutional advisors serving clients with concentrated alternative fund holdings, Handler's research and professional guidance addresses critical planning questions surrounding valuation, tax treatment, transfer restrictions, and succession strategies specific to illiquid partnership and fund interests.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.