Our complicated federal and state tax laws provide vehicles for protecting wealth for the current owner and future generations. Charitable lead trusts (CLTs) provide the means for wealth protection, serving as both a tax and an estate planning tool in West Virginia (WV), Kentucky (KY), and Ohio (OH). Understanding what CLTs are and how they work can help you determine whether they are the best tax and estate planning tool for your needs.
In early 2020, many US states issued shutdown orders to help the spread of the coronavirus. Anticipating widespread need for worker leave and the strain of the shutdown and quarantine orders on employers, the US Congress passed the Families First Coronavirus Response Act (FFCRA). The Act helps small and midsize employers provide employees paid leave necessary for COVID-19-related reasons and is funded by a paid leave tax credit. This blog helps employers seeking to take advantage of these employer tax credits understand who is eligible under the act and the conditions for taking advantage of what is essentially government-funded employee leave.
Planned giving can be a valuable and meaningful piece of your overall estate plan. Developing a charitable giving plan allows you to support causes that are important to you while also preserving wealth for your family. When your legacy is at stake, don’t leave the details to chance. Understanding the different types of charitable giving options is vital to managing your wealth in the most beneficial way for all of your beneficiaries. For those in West Virginia (WV), Kentucky (KY), and Ohio (OH), consulting with a planned giving attorney from Jenkins Fenstermaker, PLLC is a perfect place to begin.
In any market and industry, businesses sometimes find the best way forward—or out—is through mergers and acquisitions (M&A). A successful M&A transaction, one seen through to completion, is not a matter of luck or circumstance. A detailed and thoughtfully carried out M&A plan is essential to successfully completing an M&A transaction or avoiding one that, in the end, would not be in your business’s best interest. Because of the legal ramifications at various points in the process, an attorney with experience helping clients through the stages of mergers and acquisitions is an invaluable resource for businesses considering this path forward.
On August 3, 2020, a New York federal district court struck down several parts of the US Department of Labor (DOL) April 2020 rule (the April Rule) interpreting the FFCRA (Families First Coronavirus Response Act). The DOL has since issued a revised temporary rule to clarify the department’s interpretation of the paid leave provisions in the Act, but, significantly, it held fast to certain aspects of the prior final rule. How this affects employers across the country remains to be seen, so employers need to closely monitor any future challenges and changes to the DOL rule.