Filing for Chapter 11 bankruptcy protection offers an enterprise the opportunity to restructure its debts and business operations, with a plan to repay claims or any outstanding accrued interest. The goal of filing for Chapter 11 is to get a business back on track with a feasible plan and a capital structure that is sustainable, while also accounting for prior claims and shareholder interests.
Life is unpredictable and bad things happen. If you were to suddenly become incapacitated or hospitalized today, would your loved ones know where to find your important information or know how to handle your affairs? The solution for preparing for these unpredictable moments is the creation of a Just-In-Case list, also known as a letter of instruction. This list is created by you to help your loved ones navigate your personal records and financial information. This checklist will get you thinking about organizing your information to save your family an enormous amount of time and effort and take out any guessing about your wishes.
In mid-December, the Federal Communications Commission made a decision to repeal the net neutrality rules set in place in 2015 by the Obama administration. The laws were originally set in place to regulate internet service providers (ISPs) by categorizing internet access as a “utility.” By this definition, the internet was viewed as a fundamental need, where websites big and small were treated the same regardless of content or relationship with any particular ISP. After the 2017 decision, that is no longer the case. The FCC has now taken on a “light-touch framework” that will deregulate oversight of ISPs, allowing them to create slow and fast lanes for different websites and services based on price point.
Recently, both the House and the Senate have held multiple Congressional Hearings focused on solving the opioid crisis in the United States.
In recent years, cryptocurrency has raised important legal questions as its public popularity has increased. Cryptocurrency is a virtual currency that is created and controlled through the use of sophisticated encryption methods known as cryptography. The most well-known is Bitcoin, a digital currency created in 2009, which many believe is the economy of the future.
Plan for the future of your estate and assets. An estate planning attorney can guide you through the process of reducing or eliminating estate taxes and navigate you through the ramifications of the new tax law.
On December 22, 2017 the Governor issued an emergency order to help protect property owners in New York from the impact of the tax bill.
With the House passing the modified version of the Tax Bill on Tuesday afternoon, it’s looking like American families will be finding tax reform under their trees along with its usual gifts and sweets which are synonymous with the season.
Cybersecurity is a concern for the government, businesses, and private citizens alike. As Cybersecurity becomes a growing concern, states have rushed to implement legislation dealing with a broad range of cybersecurity issues. In 2017 alone 42 states have introduced over 240 bills or resolutions targeting cybersecurity, and 27 states have enacted legislation. This new legislation has focused on improving government security practices, funding cybersecurity programs and initiatives, targeting computer crimes, and restricting public disclosure of sensitive security information.
It doesn’t take a legal expert to understand that a divorce typically results in the separation of two parties who previously acted as a financial, spiritual and social unit. Because parties tend to be highly dependent on one another prior to a divorce, New York law has recognized that the lesser earning spouse is typically entitled to maintenance payments (commonly referred to as alimony) for a certain duration of time. As the law currently stands, because money was transferred out of one spouse’s income and into the other’s income, the tax law is currently structured to recognize this transfer and has allowed for a tax deduction by the spouse paying maintenance.