In 2003 Augusto Maxwell traveled to Cuba with his client John Parke Wright to begin negotiating what would become the first sale of Florida cattle to the island nation in over 40 years. The following year, after some logistical acrobatics, the approximately $450,000 transaction was completed, and Maxwell's practice in the country had begun.

Now, more than a decade later, those kinds of transactions are likely to become more frequent and profitable, thanks to an announcement last month to ease diplomatic relations between the U.S. and Cuba as well as to changes to regulations on trade and travel that went into effect on Friday.

Maxwell, a real estate partner at Akerman, has also led the Miami-based firm's Cuba practice. The Cuban-American has nurtured relationships with government officials in Cuba over the years, which helps him advise his clients on what's legal and realistic when working with these unique clients. Part of his job during the cattle deal was to assure bankers in Cuba, France, Curacao and Miami that the transaction was legal and the money would not be seized.