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Life Insurance and Divorce
Does your divorcing client's Statement of Net Worth reflect the fair market value of the life insurance policies he or she owns? This seems like a simple question, but in certain circumstances it may actually be quite complex.
Traditionally, when reviewing a client's policies, most practitioners have first asked themselves, 'Is this a term or permanent life insurance product (universal life, whole life or variable life)?' If it is a term policy, the practitioner concludes that it is worth no more than the unexpended portion of the last annual premium. This is a fair conclusion in most circumstances, assuming the insured is in reasonably good health, and barring an unfortunate incident. If it is a permanent-type product, the practitioner often concludes the policy is worth no more than its cash surrender value, in lock step with the conventional manner of thinking about this issue. Opposing counsel accepts this logic, in compliance with tradition.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."