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Tax and Pension Considerations in Same-Sex Divorce Actions
New York is one if the very few U.S. jurisdictions, other than those states that have actually authorized same-sex marriage (Connecticut, Iowa, Maine, Massachusetts, New Hampshire and Vermont), to have given full faith and credit to same-sex marriages validly performed in other jurisdictions. Now that New York courts have explicitly recognized same-sex marriages validly performed elsewhere ' both in those U.S. states that permit such marriages and in non-U.S. jurisdictions such as Canada (see, e.g., Beth R. v. Donna M, 19 Misc. 3d 724 (Sup. Ct. N.Y. Cty. 2008) and C.M. v. C.C., 21 Misc. 3d 926 (Sup. Ct. N.Y. Cty. 2008)) ' we can expect a growing number of same-sex couples, validly married somewhere else, to follow their heterosexual counterparts into New York's divorce courts.
For several reasons, however, same-sex divorce involves complexities not usually seen in more traditional matrimonial actions. These complexities arise because of the interplay of state law, which typically governs familial relationships, and U.S. federal law, which substantially determines the tax and pension consequences of marriage and divorce. The federal Defense of Marriage Act (DOMA) denies spousal status to same-sex couples, even if their marriages are valid, and thus such couples cannot be treated as married for income-tax and other federal purposes. In addition, DOMA explicitly permits states to deny full faith and credit to the actions of other jurisdictions with respect to same-sex married couples. Therefore, the portability of New York same-sex divorce settlements and decrees, along with provisions for child custody, support and spousal maintenance, to other states is extremely problematic.
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.
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?
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.