(NEW YORK) Katten announced today that the firm's Private Wealth practice was recognized by Citywealth, a UK-based financial magazine, receiving the gold Magic Circle Award for International Law Firm of the Year. Additionally, Private Wealth partner Bonnie Lynn Chmil received the gold Magic Circle Award for the Woman of the Year, acknowledging her achievements in the private wealth sector.
"We are honored to be recognized as a marquee law firm for global private wealth legal needs. Awards like this distinguish our stellar team of attorneys who are known for their personalized client service and ability to give bespoke advice on personal, business and estate planning, administration and litigation involving cross-border strategies that navigate the unique tax, property and other legal regimes across the world," said Joshua S. Rubenstein, partner and national chair of Katten's Private Wealth department.
Citywealth's Magic Circle Awards recognize the achievements of the international private wealth industry, including law firms, trust companies, family offices, tax advisors and investment managers. This year marked the fifth consecutive year Katten was honored as a recipient in the International Law Firm of the Year category. Katten received the highest distinction — gold — in the category this year and last year. In 2020 and 2021, the firm was awarded the silver accolade. In 2019, Katten won the Magic Circle Award for the International Law Firm of the Year – Large category.
Magic Circle Woman of the Year gold award winner Chmil was spotlighted as a Private Wealth leader. In her practice, she represents high-net-worth individuals, families and fiduciary trusts in private client disputes, which she effectively resolves either through negotiated settlements or litigation strategies.
"In addition to being a brilliant litigator and innovative problem solver, Bonnie is also a trusted and collaborative partner, who is known for building relationships, achieving consensus, and leading by example. She is very deserving of this award," Rubenstein said.
The Magic Circle Awards were presented by Citywealth at its flagship event in London last week. The awards are based on nominations that demonstrate innovative client service, firm performance, and leadership and vision, among other areas. The entries were evaluated by a judging panel and included online voting.
Katten's Private Wealth practice unites for its clients three essential components of the practice — planning, administration and litigation — on the local, national and international levels. Private Wealth attorneys oversee the administration of estates, trusts and other structures and use sophisticated strategies to help entrepreneurs, corporate executives, investors, philanthropists, professionals and creative artists integrate personal and business goals. They counsel clients on how to structure trusts and inheritances, avoid probate problems, protect assets, optimize taxes, plan for and implement business succession, and resolve family conflicts, estate and trust disputes, and controversies with taxing and regulatory authorities, including the IRS and attorneys general.