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The New Estate-Planning Environment
The simplest 2012 transfers were mere outright gifts of assets or business interests from parents or other benefactors to their children or other heirs. These may have been accomplished by writing checks, transferring securities or assigning interests in entities. The problem with these types of transfers is that they would be exposed to taxes, creditors and divorce in the hands of the heirs. While this may not constitute prudent planning, some wealthy clients did it simply to avoid the costs and/or complexity of transfers into irrevocable trusts.
More significant transfers that were better planned were made to irrevocable trusts. While there are undoubtedly more than 50 shades of variation in all the trusts that were used, most might be classified into one of the common broad categories below. The following explains in general terms some of the common 2012 trust variations and some of the impact each might have to a future matrimonial action. Bear in mind that different estate planners might use different names for these trusts. The goal is to illustrate the general concepts and how they might affect future divorce actions.
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.