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'Second Generation' Long'Term-Care Planning
The Obama administration recently reversed course on a major provision of its landmark health care reform law. On Oct. 14, 2011, it was announced by Health and Human Services Secretary Kathleen Sebelius that the CLASS Act (Community Living Assistance Services and Support program) will not be implemented, despite rigorous effort to make it financially viable. CLASS was meant to offer a voluntary, publicly administered long'term-care insurance program that would allow elderly and disabled individuals needing care to stay at home and not move into a nursing home facility. The architect of the plan, Sen. Edward Kennedy, envisioned a social insurance program that would have workers pay into a fund during their healthy, working years in order to qualify for an insurance payout should they became disabled in the future. Ultimately, the CLASS Act was scrapped due to fears that the program could not be made fiscally solvent.
The death knell of this program is a setback for employers who were anticipating this program as a turnkey way to introduce long'term-care planning to employees. Most prudent employers recognize that unless employees are working privately with a financial adviser this insurance gap may not be addressed, leaving employees and their assets vulnerable.
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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.