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SPAC Crash Course for Wealth AdvisorsSPAC Crash Course for Wealth Advisors

Where the worlds of special purpose acquisition companies and carried interest wealth transfer structuring collide.

N. Todd Angkatavanich, Principal, National Tax Department

April 20, 2021

31 Min Read
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By now, most of you reading this will have witnessed the proliferation of special purpose acquisition companies (SPACs), both in financial circles as well as in popular culture. Shaquille O’Neal, Tony Hawk, Serena Williams, Alex Rodriguez, Jay-Z, Steph Curry and Colin Kaepernick are just some examples of celebrities mentioned in the media who’ve gotten in on the ground floor of SPACs, along with a number of private equity (PE) funds and other investors.1 Some recently launched SPACs are, indeed, reaching for the moon and beyond by focusing on space exploration.2 Whether the focus of a SPAC is on reaching for the moon and the stars or perhaps something more pedestrian, there’s no denying the excitement surrounding investments in SPACs, du...

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About the Author

N. Todd Angkatavanich

Principal, National Tax Department, Ernst & Young LLP, Private Client Services Group

N. Todd Angkatavanich is a principal in the National Tax Department of Ernst & Young LLP, in the Private Client Services Group. His practice is focused on tax, trusts and estates, and business succession matters for affluent individuals and their families. He regularly advises domestic and international families and family offices with respect to creating trust and related business structures to preserve, protect and grow family wealth for multiple generations in a tax efficient manner. 

Todd has been published in Trusts and Estates, Private Wealth and Estate Planning Magazine, ACTEC Journal, BNA Tax Management, Private Asset Management and other publications.  He is a member of the Editorial Board for Trusts & Estates Magazine.  He is also a member of the Advisory Board for BNA/Tax Management Estates, Gifts and Trusts Journal. 

Todd is a frequent speaker on estate planning topics such as Family Limited Partnerships, Business Succession Planning and related Chapter 14 issues.  He has given presentations, webinars and teleconferences for various organizations including the Heckerling Estate Planning Institute, the ABA Section of Real Property Trust & Estate Law Spring Symposia, Trusts & Estate Magazine, BNA/Tax Management as well as numerous estate planning councils, CPA Societies and professional organizations.  Todd has been quoted in articles that have appeared in Barron's, Bloomberg Businessweek, The Boston Globe, The Miami Herald, MSN Money and other publications.

Todd is the recipient of the 2012 "Private Client Lawyer of the Year" Award, FOR (Family Office Review) Awards, North America, Chicago.

Todd is a vice-chair of the Business Planning Group - Business Investment Entities Committee of the American Bar Association, Real Property, Trust & Estate Law Section.