Resources
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Tax and Other Considerations of Life Insurance Policy Sales
Question: I own a policy of insurance on my life that I am selling to a third party at a profit. What tax consequences and other concerns do I have?
Empowered sales rep protects his contract rights; delivers strong jolt to breaching principal
William Valle’s commission lawsuit against Powertech Industrial Co. Ltd. offers a little bit of everything.
Two versions of a contract, changing commission rates, enforceability questions, and the duty of good faith and fair dealing are all raised in this dispute. (So too is the perennial employee v. independent contractor battle, but that part of their contest will be saved for another day.)
Reaping Tax Benefits from Qualified Opportunity Zone Investments
Question: I personally realized a large capital gain from the sale of my stock. Can I avoid or defer the gain by reinvesting some or all of the sale proceeds in a qualified opportunity zone investment?
Latest property tax assessments bring shock, awe and appeals
Property owners are receiving reassessment notices with increases of 200% or even 300% on commercial property and apartment buildings. Even those who planned for the reassessment this year never imagined increases on this scale and do not know how to budget for the potential tax increase.
Insurance Trust Ownership of Life Insurance Policies with Long-Term Care Riders
Question: I am buying an insurance policy on my life that contains a long-term care insurance rider. Can I transfer the policy to an irrevocable insurance trust and still benefit from the long-term care feature?
Vacationing for lawyers great misnomer in age of cellphone
The Vacationing Lawyer.
In concept, it would stir envy for the practitioner contrarian enough to use it as an autobiography title. In practice, it’s an oxymoron.
Why your board should consider using a smaller law firm
The reasons why smaller law firms offer significant advantages to companies are well known—this is especially true for businesses that are midsized or emerging. But the following is a primer for in-house counsel when their businesses are facing litigation and need help from outside counsel.
Deducting interest on LLC debt refinancing
Question: I received a distribution from a limited liability company in which I am an owner representing proceeds from the refinancing of a commercial loan on company property. Can I deduct my share of the interest on this debt?
Not so fast! Rep’s statutory rights are protected from getting contracted away
While sales rep protection statutes vary state to state, most contain a provision invalidating any contract term that would negate or limit the rights provided or would make the contract subject to the laws of a different state.
Paying Plan Benefits to Children, Not Surviving Spouse
Question: I am planning to remarry and want my 401(k) plan benefits paid to my children upon my death, not to my future spouse. Do I need a prenuptial agreement to accomplish this?