Recently, there has been extensive reporting about the federal Corporate Transparency Act, or the “CTA,” the stated objective of which is to enhance transparency in entity structure and ownership in order to combat money laundering, tax fraud, and misconduct through business structures. The CTA, which became effective as of January 1, 2024, requires certain

On Dec. 29, 2023, the Office of the Chief Counsel (the Chief Counsel) of the Internal Revenue Service (IRS) released Chief Counsel Advice Memorandum 202352018 (the CCAM).

Although some have commented on the CCAM’s impact on trust modifications, a further question is what impact, if any, will the CCAM have on trust decantings in New

In our January insurance update, we include three state cases addressing some less common situations.

It’s not often that a pollution exclusion is interpreted in the context of an auto policy.  But the South Dakota Supreme Court considered whether the exclusion barred a claim arising from a contaminated wheat delivery.

Village officials made it very

When we think about making plans to secure our future, generally the discussions revolve around education, career, family, and finances. Creating a comprehensive estate plan, including effective advanced directives, can elude even the most organized and diligent people. A survey by Caring.com noted that 1 in 5 people who died during the 2020 pandemic did

On January 18, Long Island Business News published Chris Murray’s opinion piece, “Sewers: Good for the Environment, Good for the Economy.”

Here is the full text.

Not often is a policy initiative good for both the environment and business. Sewer expansion is one of those initiatives. The development of sewer systems in Suffolk County would not

Michael Heller’s, Matthew Spero’s and Lawrence Han’s Fall issue of the Title Reporter was published in the Real Estate Finance Journal.

This article discusses the following court rulings and other title insurance-related developments, among others:

• “Deed Theft: Recent New York Developments” explains that New York State prosecutors, and the New York State legislature, have

The current combined federal estate and gift tax exemption amount of $13.61 million per person ($27.22 million per married couple) is scheduled to “sunset” automatically on January 1, 2026, and revert to $5 million indexed for inflation (guesstimated at $7 million), unless Congress takes action. This exemption amount applies to the total taxable gifts made

On January 10, the New York Court of Appeals heard oral arguments on a COVID-19 coverage appeal by a restaurant operator, Consolidated Restaurant Operations, Inc. (CRO), which posed issues of first impression. Courts nationwide are looking to see how New York’s highest court will decide the case.

The case before the Court of Appeals stems

Here is what we cover in this issue of Title Insurance Update Winter 2024:

• The U.S. Court of Appeals for the Eleventh Circuit, affirming a decision by the U.S. District Court for the Northern District of Florida, has ruled that Standard Exclusion 3(a) of a title insurance policy precluded coverage of fees and costs

Here is what we cover in this issue of The Employment Law Reporter:

• A federal district court in New York has dismissed employment discrimination claims brought under the Age Discrimination in Employment Act of 1967 and Title I of the Americans with Disabilities Act of 1990, finding that the plaintiff failed to meet the

Many of us would like our children to inherit our home once we are gone. More than a few of us think it makes sense to give our home to our children while we are still living. That is not a good idea! Here’s why.

Loss of Step-Up in Basis

Gifting your home to someone

On November 29, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an update to the Corporate Transparency Act (CTA), extending the deadline for reporting companies to disclose beneficial ownership information. Once the CTA goes into effect on January 1, 2024, reporting companies created in 2024 will now have 90 days

Second Circuit Finds That Criminal Activities Exclusion Defeats Coverage For Disability Benefits

Jason Brand made a claim for disability benefits under his disability policy with Principal Life Insurance Company on the basis that he was totally disabled by extreme anxiety that began in July 2014 after a warrant was served on him by the

Update: Governor Hochul signed this law (S.6897/A.7328) on December 22, 2023, following the publication of this article. The Governor’s press release can be found here.

A law that would incentivize reductions in the use of temporary staffing agencies in nursing homes awaits action by Governor Hochul, who must either sign or veto the law by December 23.

Our December 2023 Insurance Update features a few firsts from state high courts. For the first time:

• The Supreme Court of Hawaii addresses reimbursement of defense costs.
• The Supreme Court of Illinois addresses coverage for construction defects.
• The Supreme Court of Appeals of West Virginia addresses trigger.

At the federal level:

• The