Publications
On August 16, 2023, the Federal Trade Commission announced that it has settled, via a proposed consent order, a pending antitrust investigation into a proposed acquisition in which a private equity firm, Quantum Energy Partners (“Quantum”), was integrally involved with natural gas producer EQT Corporation (“EQT”).[1] The conduct remedies include Quantum agreeing to relinquish seats […]
Each year, Wiggin and Dana LLP and LeadingAge Connecticut collaborate to produce a comprehensive summary of new Connecticut laws affecting providers of services for the elderly. The 2023 Legislative Summary reports on a number of new legislative requirements affecting nursing homes, assisted living communities, residential care homes, home care, senior housing, PACE, and health care […]
The family beach house, ski condo, lake cottage, or other vacation property is often cherished for the lifelong memories created and the traditions upheld. Understandably, many people want to keep these properties in the family for generations to come, with the intent of creating meaningful family traditions and history, strengthening family ties, and preserving a parent’s […]
On August 9, 2023, the Biden Administration finally issued a long-anticipated Executive Order targeting outbound investments in sensitive sectors in China, Macau and Hong Kong. The same day, the Treasury Department (“Treasury”) issued a corresponding Advance Notice of Proposed Rulemaking (“the ANPRM” or “Proposed Rule”) describing the contours of proposed implementing regulations.[1] The EO, entitled […]
Clients interested in assisting a family member financially can consider making an intrafamily loan. To be respected as a loan, rather than a gratuitous transfer, certain formalities should be followed. Here, we outline those formalities. What is an intrafamily loan? Although current tax law allows for the exclusion of gifts up to $13.99 million for […]
Consistent with this administration’s stated antitrust priorities, both the Federal Trade Commission (“FTC”) and the Department of Justice Antitrust Division (“DOJ”) have made recent proposals that, if enacted, would significantly expand the scope of merger review in the United States. First, the FTC has proposed a major expansion to the information to be included in […]
Clients often ask us how to plan for educational expenses for their children or grandchildren. According to the College Savings Plans Network, at an inflation rate of 6%, it will cost about $276,954.00 to send a child who is currently a toddler to an in-state, public college for four years, inclusive of tuition, fees, room, […]
“This irrevocable trust no longer meets our needs, what options do we have?” This is a question that clients periodically ask. A recent Pennsylvania Supreme Court case, In re Trust Under Deed to Walter R. Garrison, illustrates a trend among states to grant greater flexibility to modify or terminate irrevocable trusts. In re Trust […]
Private foundations, also known as “family foundations,” can serve strategic wealth planning goals for high-net-worth individuals while also serving charitable goals. However, private foundations require oversight and annual reporting, and administering a private foundation may be more onerous than it first appears. In this publication, we discuss the key requirements and recommended practices associated with […]
On June 29, 2023, the Federal Trade Commission (“FTC”) published the final version of its revised “Guides Concerning the Use of Endorsements and Testimonials in Advertising”[1], hereinafter (“Guides”). For the purposes of the Guides, it is important to note that endorsements and testimonials are treated identically.[2] The revised Guides contain a number of significant changes […]
Greetings, Court Fans! We’re back with our final Update of OT22, covering a trio of decisions involving standing and challenges federal agencies’ authority: We’ll start with Biden v. Nebraska (No. 22-506) and Department of Education v. Brown (No. 22-535), two challenges to the Biden Administration’s student-loan forgiveness plan. In 2022, Secretary of Education Miguel Cardona […]
Greetings, Court Fans! We’re back today with summaries of four of the Court’s decisions from the last week of its OT22 term: We’ll be back tomorrow in what should be our last Update of the term to talk about a trio of cases involving standing and challenges to administrative agencies’ authority, specifically in the context […]
Partner Daniel Goren and Counsel Sean Koehler authored an article published in Issue 33 of Export Compliance Manager titled, “Largest-ever penalty ushers in new era of BIS enforcement.” Dan and Sean discuss the Department of Commerce’s Bureau of Industry and Security (BIS) decision to impose a $300 million civil penalty — the largest standalone administrative penalty in BIS history […]
Every month, the IRS publishes “applicable federal rates” (AFRs) and a § 7520 rate. These are the rates prescribed by the IRS for use by taxpayers for various intra-family transactions and estate planning vehicles. Importantly, these rates have steadily increased over the last few years. The July 2023 AFRs have been released. The current short-, […]
Greetings, Court Fans! In this installment, we bring you summaries of two cases that address accommodations for religious beliefs and practices without invoking either the Free Exercise or Establishment clauses of the First Amendment. In 303 Creative LLC v. Elenis (No. 21-476), a 6-3 Court held that the Free Speech clause of the First Amendment […]
Greetings, Court Fans! As promised last week, we’re back today with a summary of Students for Fair Admission, Inc. v. President and Fellows of Harvard College (No. 20-119), where a 6-3 Court held that Harvard’s and the University of North Carolina’s race-conscious admission policies violated the Equal Protection Clause. Given the case’s importance—to say nothing […]
Greetings, Court Fans! Today, the Supreme Court’s OT2022 term came to a close, with the issuance of its last three decisions: We’ll have more thorough coverage of these and all the rest of this week’s decisions soon, including a special Update thoroughly analyzing yesterday’s opinions in Students for Fair Admission, Inc. v. President and Fellows […]
Greetings, Court Fans! Today, on what is likely the penultimate day of the term, the Court issued three decisions, including one of the most watched cases of the term: That leaves just two cases before this term comes to a close, which we expect the Court will issue tomorrow: 303 Creative, LLC v. Elenis (No. […]
The Private Client Services team is pleased to share Part II of the “Estate Planning with Digital Assets” series. In the first part of this two-part series (click here to read), authors Vanessa Maczko and Beth Scharpf outlined terminology and concepts that estate planners must address with their clients to facilitate the ownership and transition […]
Following up on an advisory we published a year ago on LGBTQ+ Family Estate Planning (click here to read), and as many celebrate Pride Month during June, we offer this update on recent developments in state and federal laws that may have meaningful implications on estate planning strategies for LGBTQ+ individuals and couples. First, by […]
This client alert discusses the most significant changes in Connecticut cannabis law by virtue of the adoption of Connecticut Public Act No. 23-79, effective July 1, 2023, and approved on June 26, 2023. These changes include the following: (1) permitting product manufacturers to expand into food and beverage and vice versa; (2) removing the 14-month […]
Greetings, Court Fans! This morning, the Court issued decisions in three of the most closely watched cases of the term: That leaves just four cases to be decided by the end of the term on Friday. We’ll be back soon to summarize today’s three decisions, as well as to let you know about the outcome […]
Greetings, Court Fans! It’s been a busy couple days at the Court, with eight decisions issued in the last two days, nearly all of which were closely divided and came out in favor of the Court’s conservative wing: That leaves seven decisions to be issued next week, the last week of OT22. And among that […]
On June 11, 2023, Partner Robert Hoff and Associate Chloe Booth authored an article in the American Bar Association Litigation Section titled “Privilege, Work Product, and Kovel: An Update from Recent Case Law.” Robert and Chloe discuss the importance of attorneys and clients understanding the scope and elements of the attorney-client privilege and work product […]
Partners Paul Hughes and Evan Kipperman recently published an article in Law360 discussing the tradeoffs of corporate venture capital investments on both the investor and entrepreneur sides. They note, “One of the greatest advantages of the corporate venture capital investment is its ability to act as a low-risk vehicle for due diligence in advance of a much larger investment […]
Greetings, Court Fans! Hope you enjoyed a meaningful Juneteenth! We’re back with summaries of some of last week’s decisions: We’ll be back later this week to summarize the rest of last week’s bounty. We’re also expecting the Court to issue additional decisions this week on Thursday and Friday, so keep an eye out for a […]
The U.S. Supreme Court issued, on June 8, 2023, its decision in the much-watched Jack Daniel’s Properties, Inc. v. VIP Products LLC case (Case No. 22-148). The decision holds that the parody defense is not as all-encompassing as perhaps once believed, and that the Rogers test is not applicable in instances where a trademark is used as a […]
Greetings, Court Fans! The Court issued four decisions late last week, including one of the more significant, and surprising, of the term: Then, just this morning, the Court issued three more: We’ve got summaries of Allen, Jack Daniel’s, and Dubin for you today. And we’ll be back to talk about the rest in short order. […]
On June 12, 2023, Partner Jolie Apicella authored an article in the Journal of Health Care Compliance titled, “Examining the Risk of False Claims Act Enforcement on Private Equity Investment in Health Care.” Jolie discusses how enforcement authorities may evaluate partnerships between healthcare portfolio companies and private equity firms. To read the article, please see the PDF […]
Greetings, Court Fans! Three more decisions on Thursday as the Court nears the final push of OT22. Though the cases held differing political valences, each essentially clarified the standard for stating various claims in federal court: We’ll start with Glacier Northwest v. International Brotherhood of Teamsters, Local 174 (No. 21-1449), where the Roberts Court continued […]