On Friday, October 15th, the Boston Bar Association's Trusts and Estates Section and Estate Planning Committee will be sponsoring Carried Interest Planning Techniques, addressing wealth planning strategies applicable to principals in private equity firms. BBA Week decided to have a little fun with the wealth planning concept by asking our members:


"You have just recieved $1 million dollars. What are you going to do with it? "

If you would like to respond to a future Voices of the Bar, make sure you send a headshot, and contact Eric Fullerton at efullerton@bostonbar.org.

Stephen Riden - Beck Reed Riden LLP
"Three things: No more taxis to court -- just helicopters. A lifetime membership with the Boston Bar Association. And everyone's admission to next summer's Jimmy Fund Scooper Bowl is on me."

Crystal L. Lyons - Gesmer Updegrove LLP
"It's often said that education is the best investment one can make. And many of us, myself included, have *really* taken that mantra to heart. I would start by paying down my student loans (which for two lawyers, borrowing everything for both undergraduate and law school, amounts to a substantial second mortgage each month) and setting aside enough money for my children to attend college (whose educational bills will start arriving just when I’ve paid my own loans off). And I would like to use the balance to create a scholarship for promising middle-class teenagers whose hopes for college are pinned to the promise of borrowing against future earnings. It would be nice to help the next generation escape the debt trap that limits what one can do with this wonderful but expensive degree."

Joshua Miller – Holland & Knight
"Pay off my student loans, take a vacation, and invest the remainder with the people who earn carried interest."

Atinuke O. Diver - United States Department of Transportation
"I am assuming this is $1 million dollars before taxes?  If so, first I would set aside about 30% for anticipated federal and state tax liabilities.  I would give 10% to my church and use another 10% to set up a matching grant fund to benefit ZUMIX, an amazing youth arts organization based in East Boston.  I would put the remaining 50% towards paying off law school loans (both mine and my husband’s) and savings.  And the next morning, I would go back to work."

Colin Korzec - U.S. Trust, Bank of America Private Wealth Management
While I would like to come up with something exotic and while my administrator tells me that I should commit to giving it all to her in recognition of her hard work and years of service, sadly I would be boring and conservative and save it for my children's education - which is fast approaching and looking economically scarier by the moment!"

Vanessa Hackett – Littler Mendelson
"First, I would pay off the remainder of my law school loans, my husband's law school loans, and my home mortgage to see what it feels like to be 100% debt-free.  With the little that is bit left-over, I would splurge on an Yves Saint Laurent handbag, Valentino shoes, dinner at Menton, and a vacation to Belize or St. Lucia, and then bank or invest the rest (if there is any!)."

Bryce A. Schintzius – New England Financial
Well, I'm not married, and I don't have kids, so I don't have much need for the money. I would probably use it to ensure the sustainability and growth of a few of my favorite charities, especially my Tibetan Buddhist Temple in Medford. I have both spiritual and practical beliefs that tell me this would be the wisest use of the funds.