Recent D&O Claims Developments

The D&O claims environment is now in an unusually uncertain state, largely due to the potential for unprecedented and wide-spread changes directly and indirectly caused by the new Trump administration. Many of the predicted changes may appear to lessen D&O exposures, including more conservative judges and a more business-friendly regulatory environment. But other changes will […]

Unanimous Supreme Court Sides with IRS

The Supreme Court resolved unanimously a common estate tax issue for many closely-held companies. The issue in Connelly v. United States was “whether the corporation’s obligation to redeem [a deceased shareholder’s shares] was a liability that decreased the value of those shares.” The court concluded it was not. Family-owned companies will often purchase life insurance […]

Insurance Issues Arising After Mass Shooting Occurrences

There is no question that mass shooting incidents in this country are unfortunately continuing at a staggering pace. As of April 29, the crowd-sourced “Mass Shooting Tracker” project, which considers a mass shooting to include a single incident in which four or more people are shot in any incident, lists 163 incidents that fit this […]

Insights

Paid leave Act Passed by Congress & Other Coronavirus Updates

Paid Leave Bill Passed by House and SenateThe Families First Coronavirus Response Act (HR 6201) passed Congress with bipartisan support and was signed by President Trump on March 18th. Paid Leave Bill Passed by House and Senate The Families First... Read More

CARES Act Provides Tax Relief and Refund Opportunities by Removing Restrictions on Use of Net Operating Losses and Excess Business Losses

April 2020 The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), enacted on March 27, 2020, includes tax relief provisions designed to provide financial assistance and stimulus to address the economic impacts of COVID-19. The CARES Act amends the... Read More

IRS Allows Eligible Partnerships to File Amended 2018 and 2019 Tax Returns to Take Advantage of Retroactive Tax Relief Provided by the CARES Act

On April 8, 2020, the Internal Revenue Service released Rev. Proc. 2020-23, which significantly expands the number of partnerships that are eligible to file amended returns for tax years beginning in 2018 and 2019. Rev Proc. 2020-23 is intended to provide... Read More

UPDATED–Relief for the Small Business: The Coronavirus Aid Relief and Economic Security Act (“CARES”) and the Small Business Reorganization Act of 2019 (“SBRA”)

The coronavirus pandemic is placing unprecedented stress on small businesses. Consequently, a key provision in the Coronavirus Aid Relief and Economic Security Act (“CARES”) provides small businesses with greater access to bankruptcy reorganization. CARES amended the Small Business Reorganization Act... Read More

Paycheck Protection Loans (CARES Act)

Designed for relief from impacts of COVID; loans issued by approved banks and SBA Who’s Eligible? Employers with 500 or fewer employees (higher limits if in food/hospitality industry); includes certain sole-proprietorships, independent contractors, and self-employed individuals “Small Business Concern”; size... Read More

Planning After Passage of the Secure Act

For the first time in several decades, Congress has enacted substantial changes to retirement plans. The "Setting Every Community Up for Retirement Enhancement" or "SECURE" Act was signed by President Trump on December 20 and was effective January 1, 2020... Read More

Flexibility and Core Practices: Considerations in Estate Planning for Middle Aged Clients Below the Exemption Amount

This article is based on a presentation by the author at the 2019 meeting of the Ohio fellows of The American College of Trust and Estate Counsel. Read More Read More

Corralling D&O Defense Costs: A Necessary Partnership Between Carriers and Insureds

As the size of D&O settlements continues to escalate, there is less certainty today than ever before that a company’s D&O insurance program will be sufficient to fund all losses incurred by directors and officers when allegations of wrongdoing arise.... Read More

3 Ways to Avoid Litigation When Hiring an Employee from a Competitor

When hiring an employee from a competitor, the last thing a company wants is to be embroiled in litigation accusing it of hiring the employee to steal that competitor's customers or trade secrets. As a result, the process of "on-boarding"... Read More

Affiliate Transfers: A Practical Guide for Migrating Insurance Policies Between Legal Entities

From time to time, insurers find it useful to transfer policies between legal entities within their holding company systems. This process is frequently referred to as an "affiliate transfer."Read More Read More

Tax Reform Cuts But Does Not Kill the Death Tax

January 2018 In recent years, the federal estate and gift tax exemptions have been steadily increasing. The Tax Cuts and Jobs Act of 2017 supercharged this trend and essentially doubled the exemptions. Now, a married couple can shelter more than... Read More

Bonuses for Businesses: Trump’s TCJA Incentivizes Real Estate Activity

As President Donald Trump promised, his Tax Cuts and Jobs Act (the “TCJA”) initiated an overhaul intended to simplify an otherwise arduous tax code. Businesses benefited in a number of ways beyond the celebrated reduction in the corporate tax rate.... Read More

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