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Last month, we began discussion of a hypothetical couple's transfers of assets to one another. The married parties, Henry and Willa, own a townhouse in Manhattan (the Townhouse) and each owns a 50% membership interest in 17 House, LLC (the Company), which owns a residence in Bridgehampton, NY. There are no mortgages on either property. We wanted to know the tax consequences to the couple of their proposed agreement that Henry transfer his interest in the Townhouse to Willa prior to their execution of a separation agreement, and that Willa transfer her membership interest in the Company to Henry prior to execution of such agreement.
We continue our analysis of the tax consequences of their proposed agreement herein.
Transfer Pursuant to a Separation Agreement
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.
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.
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