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Avoiding Traps in QDROs
Before 1985, there was no way to attach the assets in a qualified pension plan for a spouse in a divorce proceeding. While a state court may have awarded a portion of the benefit, a plan administrator could not comply based on the federal laws governing pension plans (there were some exceptions for benefits already in pay status). The Retirement Equity Act of 1984 altered that by adding to the Internal Revenue Code ' 414(p), which allows qualified pension plans to divide plan assets if ordered through a properly drafted Qualified Domestic Relations Order (QDRO). The rules surrounding QDROs are complex; guidelines now abound, including guidance from both the IRS and the Pension Benefit Guarantee Corporation. What follows are some tips to assist drafters in avoiding common traps in these subtle
documents.
Can We Circumvent the Process?
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.