Press Releases

For Immediate Release
Contact: Melinda M. Bascone
Director of Marketing
Carter Ledyard & Milburn LLP


New York, NY (January 31, 2013) – Carter Ledyard & Milburn LLP ( is pleased to announce that the firm’s Executive Committee has named Jerome J. Caulfield and Michael I. Frankel as co-chairs of its Trusts and Estates Department. The firm is grateful to Theodore R. Wagner who stepped down as chair of the department after leading the trusts and estates practice for 19 years.

Mr. Caulfield focuses his practice on tax, estate planning, and tax-exempt organizations. He advises clients on general tax matters, business acquisitions and dispositions, partnerships, family wealth transfer planning, international tax considerations, and charitable organizations/charitable giving as well as state and local taxes and tax controversies. Mr. Caulfield is an editor and frequent contributor to Practical Drafting®, published by U.S. Trust, Bank of America Private Wealth Management. He is the author of the Factors actuarial calculation software distributed by Practical Drafting® magazine. Mr. Caulfield has been listed as a SuperLawyer since 2010.

Mr. Frankel’s practice encompasses all aspects of estate planning and estate administration. He specializes in sophisticated planning for entrepreneurs and high-net-worth individuals, both U.S. residents and non-residents. Mr. Frankel has extensive experience in trust and estate related litigation, both tax matters (negotiations with the IRS and litigation in US Tax Court and federal district and appellate courts) and disputes in New York and federal courts concerning trust and estate related matters. Mr. Frankel advises non-profit entities, including significant private foundations. Mr. Frankel is an editor and frequent contributor to Practical Drafting®, published by U.S. Trust, Bank of America Private Wealth Management, and a frequent lecturer and author on trusts and estates topics. Mr. Frankel is listed in The Best Lawyers in America, SuperLawyers and Chambers USA; he has been recognized as one of the “Top 100 New York SuperLawyers.” Mr. Frankel is a fellow of the American College of and Estate Counsel, where he serves on the International Estate Planning and Business Planning Committees. He has also served as the chair of the Estate and Gift Taxation Committee of the Association of the Bar of the City of New York.

The Trusts and Estates Department focuses on helping individual clients of substantial means develop estate plans that will assure that the client’s assets benefit those whom the client wants to benefit in the best possible way.  This includes structuring of the client’s financial affairs and preparation of all necessary documents (including wills and trusts) to effectuate those estate plans.  Clients have assets ranging from publicly and privately owned businesses to racehorses, and from real property to intellectual property rights in plays and novels, and the Trusts and Estates Department works closely with other practice groups in the firm to minimize the impact of transfer taxes upon the death of senior family members. This practice has earned Carter Ledyard a national reputation for the successful and efficient transfer of assets among several generations of a family.

Carter Ledyard & Milburn LLP (, established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.

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