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Avoid Transfer Taxes? Maybe Not
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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.