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Adine Momoh Pens Article on Syndicated Conservation Easements for Practical Tax Strategies

In the News
05.18.2021

Partner Adine Momoh’s article “Gimme, Gimme Tax Shelter: The Syndicated Conservation Easement Controversy” was recently published in the May 2021 issue of Practical Tax Strategies, where she explains the complexities of the controversial use of syndicated conservation easements.

In the article, Momoh examines conservation easements – permanent agreements between a property owner and a land trust, nonprofit or government entity through which the owner gives up some amount of ownership in order to advance conservation purposes, and, more specifically, the tax shelter controversy concerning syndicated conservation easements. Syndicated conservation easements can present various traps for the unwary given the increased scrutiny that these transactions are now under by the IRS and the Department of Justice.  Momoh cautions that if the basic mechanics of conservation easement contributions are not followed, the IRS and Department of Justice can not only challenge the syndicated transaction, but also investigate and possibly sue the parties involved in that transaction.

A dedicated trial attorney, Momoh defends complex business and commercial litigation matters for securities, banking, estates and trusts clients, and resolves creditors’ rights and bankruptcy cases in state and federal courts nationwide.  Momoh co-chairs the firm’s Estates and Trusts Litigation Group, where she leverages her experience in estates and trusts litigation and bankruptcy and creditors’ rights to provide sophisticated advice and advocacy when disputes arise involving wealth management, wealth transfer, and tax strategy.  Actively involved in the legal and broader community, Momoh also serves on the boards of various nonprofits, including the Saint Paul and Minnesota Foundation, where she chairs the foundation’s Community Impact Committee.

GIMME, GIMME TAX SHELTER: THE SYNDICATED CONSERVATION EASEMENT CONTROVERSY

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