Dennis Delaney is a partner and the Chair of the Private Client Group. For over 20 years, clients throughout the country have appointed Dennis as their family trustee, executor and have engaged him for complex estate planning, tax advice, wealth management, business succession planning, and tax controversies. His areas of expertise include:
- Sophisticated estate planning that makes use of any number of strategies, including perpetual dynasty trusts, quiet trusts, complex gifting programs, "defective" grantor trusts, minors trusts, grantor retained annuity trusts (GRAT), qualified personal residence trusts (QPRT), and charitable giving programs involving private foundations, donor advised funds, and charitable lead/remainder trusts
- Comprehensive asset protection programs using irrevocable trusts, LLCs, and other vehicles
- Income and estate tax minimization strategies, including expertise in migrating trusts to tax-free jurisdictions
- Family lands preservation
- Strategies for concentrated wealth holdings and unique assets
- Business succession planning for family-owned businesses
- Amending irrevocable trusts, including non-judicial settlement agreements, modifications, and decanting assets from existing irrevocable trusts to newly created trusts
- Cross-border planning for non-citizens or those with assets outside the U.S.
- IRS audits of estate and income tax returns
Dennis also serves as Managing Director and General Counsel of Hemenway Trust Company, a private fiduciary firm based in New Hampshire.
Representative Experience
- Serves as trustee for numerous family and charitable trusts collectively worth several hundred million dollars.
- Oversees business succession and estate planning for a family owning a $200 million private company.
- Creating and administering dozens of grantor retained annuity trusts (GRAT) resulting in saving clients many millions of dollars in transfer taxes.
- Led several land protection projects throughout the country using a variety of sophisticated techniques to protect environmentally sensitive land from development, save millions of dollars in transfer taxes, and maximize after-tax values for owners and their families.
- Created and administer private foundations, charitable lead trusts, and charitable remainder trusts involving tens of millions of dollars in funding.
Activities
- Fellow, American College of Trust and Estate Counsel (ACTEC)
- Member, New Hampshire Trust Council (NHTC)
- Past Co-Chair, Estate Planning Committee, Boston Bar Association’s Trusts & Estates Section
Accolades
- Named to the New England Super Lawyers list
- Editor-in-Chief, Boston University Law Review
- Recipient of Dr. John Ordronaux Prize from Boston University School of Law
Publications and Speaking Engagements
- White paper: “Rock Solid in New Hampshire” detailing the many advantages that New Hampshire offers as a premier trust venue
- Co-authored the Trusts & Estates Magazine article, “Depression-Era Trusts Come Home to Roost,” December 2016
- Featured in the U.S. News and World Report article, “Why Millennials Are Dominating the Housing Market” (August 2015)
- Featured in Forbes articles, "9 Best Tax Breaks for Millennials" and “Can Millennials Get Audited” (March 2015)
- Author of chapters in various books published by Massachusetts Continuing Legal Education, including Drafting Irrevocable Trusts in Massachusetts as well as Understanding and Using Trusts
- Frequent speaker at industry events such as the New Hampshire Trust Conference and events hosted by the Family Business Association, the Family Firm Institute, Boston Probate Forum, ALI-ABA, Massachusetts Continuing Legal Education, and the Boston Bar Association. Topics include "How Philanthropy Can Help Grow Your Business and Bottom Line," "Managing the Complex Case of the Family Enterprise," "Estate Administration and Post-Mortem Estate Planning," and "Nuts & Bolts of International Estate Planning."
- Authored Hemenway & Barnes client advisories including "Pitfalls and Opportunities Under the New Federal Tax Law: Parts 1, 2 & 3" (2018, 2019), "Year-End Tax Strategies Under the Tax Cuts and Jobs Act of 2017" (December 2017), "Tax Cuts and Jobs Act as Enacted: Effect on Individuals and Families" (December 2017), "How Individuals and Families Could Be Affected by the Tax Cuts and Jobs Act" (November 2017), "Protecting Your Credit After a Data Breach" (September 2017)
Community Involvement
- Boys & Girls Club of Boston, Board of Trustees, Trustees Leadership Council and Planned Giving Advisory Committee
- Sherborn Rural Land Foundation, Trustee
- Alan Thayer Mudge Memorial Fund, Trustee
- Boston Athletic Association, Member
Dennis Delaney’s Comments on Challenges Clients Face
“My job often addresses the nexus of many, often conflicting, challenges for my clients. They want to provide financial stability for descendants while keeping them motivated to lead engaged, productive lives. Much of their wealth consists of their family-owned business; they want to reward children who help grow it, but also ensure that children who don't work in it are treated fairly. They have a profound commitment to charitable giving and want to maximize their impact. They would like their vacation home to be enjoyed by future generations but don't want their estate plan to create friction among family members. These issues are not easy, but nor are they new. For over 150 years we have helped generations of clients achieve their personal and family goals."
