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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.
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.
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.
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.
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.
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.