Publications

On Friday, March 1, 2024, Federal District Court Judge Liles Burke of the US District Court for the Northern District of Alabama issued a ruling on National Small Business United d/b/a National Small Business Association v. Yellen, in which the Court found that the Corporate Transparency Act (CTA) is unconstitutional “[b]ecause the CTA exceeds the […]

Real Estate, Generally Real estate has long been one of the most popular forms of investment. Specifically, real estate investment is a common means of diversifying an investment portfolio outside of the stock market, it provides an asset which can appreciate instead of losing value to inflation year over year, and it offers many tax […]

On March 4, 2024, the United States terminated its long-standing list-based sanctions program targeting certain members of the Government of Zimbabwe and other persons for undermining Zimbabwe’s democratic processes or institutions. As a result, blocking sanctions imposed on persons and property blocked solely under the Zimbabwe program are no longer in effect, and OFAC will […]

Artificial Intelligence (AI) is quickly evolving to be more capable and efficient in ways that defy even our own imaginations. It is then no surprise that businesses are increasingly looking to AI, including AI-driven pricing algorithms, to optimize their business operations and strategic decision making. Regulators, however, have expressed increasing concern that AI-driven algorithms may […]

Many people tend to believe that estate planning is something they can do once, and it is done. They made decisions several years ago about who should receive their assets after their death, who should serve as executor to administer their estates, and who should be the guardians for minor children. Congratulations on getting this […]

Effective February 23, 2024, the U.S. government imposed blocking (SDN) sanctions under Russia-related Executive Order 14024 on approximately 500 individuals and entities, primarily but not exclusively in Russia, and added 93 entities to the Commerce Department’s Entity List, of which 63 are based in Russia. Simultaneously, the U.S. State, Treasury, Commerce, and Labor Departments issued a […]

On February 23, the Winter 2024 issue of the Franchise Law Journal, Volume 43 Number 1 was published, where Litigation Partner John Doroghazi is Editor-in-Chief. The Franchise Law Journal is published by the American Bar Association Forum of Franchising. In his editorial, John discusses how the 2024 presidential election will affect the laws on franchising. To […]

Greetings, Court Fans! The Nine issued another pair of unanimous decisions this week addressing questions other than whether Donald Trump “engaged in insurrection” after taking an oath as an “officer of the United States.” In Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC (No. 22-500), the Court held that choice-of-law provisions in maritime […]

Overview Individuals who are neither United States citizens nor U.S. “domiciled” (U.S. resident with an intention to remain indefinitely in the U.S.) are subject to a less favorable estate tax planning environment.  In 2024, individuals who are U.S. citizens and domiciliaries can transfer $13,610,000 free of estate, gift and GST tax during their lives or […]

As Wiggin and Dana looks forward to another year of growth, we remain dedicated to delivering timely, cost-effective, and insightful legal guidance to our diverse client base. Attached is our Mergers and Acquisitions practice group’s year-end report. We trust you’ll find it both intriguing and a testament to our expertise as we look forward to […]

Greetings, Court Fans! Most Court-watchers’ attention last Thursday was devoted to the oral argument in Trump v. Anderson (No. 23-719), where candidate Trump seeks to reverse the Colorado Supreme Court’s recent decision barring him from that state’s primary ballot on the ground that he “engaged in insurrection” in and around January 6, 2021. So, they […]

The year 2024 brings new changes to estate and gift tax laws in the United States, with updated exemptions, rates and regulations affecting taxpayers at both federal and state levels. As we settle into the new year, it is important to stay informed about the latest updates and requirements to ensure proper planning and compliance. […]

As the new year approaches, we present our annual year-end advisory for 2023. This edition highlights noteworthy estate and gift tax changes in the law and outlines planning opportunities that can be utilized before the end of the year. We also take a moment to recognize some of our accomplishments in 2023 and provide our […]

Following up on a prior advisory that we published on “Estate Tax Planning and the Often-Overlooked Power of the ‘Med-Ed Exclusion’” (click here to read), we offer this update and a deeper dive into the gift of medical care that may have meaningful implications on estate planning strategies for many individuals. First, by way of […]

Greetings, Court Fans! On Tuesday, the Court issued its first decision of the term: Acheson Hotels, LLC v. Laufer (No. 22-429). This was set to be a significant decision on the standing of so-called “testers”—individuals who file lawsuits against businesses whose websites are not ADA compliant even if they don’t have genuine plans to patronize […]

On December 1, 2023, Partner Jolie Apicella authored the article titled, “Voluntary Self-Disclosure Basics: Whether and How To Use It” for the New York Law Journal. Jolie reviews the Department of Justice’s three declinations since the issuance of the revised Corporate Enforcement Policy nearly a year ago and offers strategic considerations for companies. To read the full article, click […]

Each year, the U.S. Internal Revenue Service (“IRS”) announces its annual inflation adjustments for federal estate, gift, and generation-skipping transfer (“GST”) tax. The IRS has announced that the estate and gift tax exemption in 2024 will be $13,610,000 per taxpayer, an increase of $690,000 from 2023. This means that, with proper planning, a married couple […]

In November 2023, Partner Peter J. Lahny, IV revised Chapter 41 – Asset Securitization of the Debtor-Creditor Law treatise, a chapter he originally published as an article in the Winter 2001 issue of the American Bankruptcy Institute Law Review (9 AM. BANKR. INST. L. REV. 815) and was originally prepared by Pete in compliance with […]

Following up an advisory we published last year (click here to read), we offer this update on recent developments in the case of Salce v. Cardello that may have meaningful implications for the use and enforcement of no contest clauses in wills and trusts. In a narrow and unusual ruling, the Connecticut Supreme Court denied […]

Artificial intelligence is an obvious fit within the insurance industry. Insurance is rooted in assessing the probability of certain outcomes and AI is designed to leverage increasingly larger stores of data to improve decision making. A recent putative class action lawsuit against UnitedHealth Group alleges the Company used AI to wrongly deny care to large numbers […]

Starting October 1, 2023, health care facilities and institutions licensed by the Connecticut Department of Public Health (“DPH”) became subject to significant requirements that apply when the facility or institution undergoes a change of ownership (“CHOW”). Public Act 23-122, “An Act Concerning the Department of Public Health’s Recommendations Regarding Change in Ownership of Health Care […]

On November 2, 2023, the Centers for Medicare & Medicaid Services (CMS) and the Department of Health and Human Services (HHS) published a final rule (CMS 1793-F) giving providers participating in the 340B Drug Pricing Program (340B Program) approximately $9 billion as compensation for unlawful payment reductions between 2018 and 2020.  The 340B Program requires […]

The reporting requirements under the Corporate Transparency Act (CTA) will come into effect on January 1, 2024.  The U.S. Treasury estimates that more than 32 million pre-existing entities and approximately 5 million new reporting companies annually over the next decade will have to register under the CTA. The CTA was enacted on January 1, 2021 […]

On October 4, 2023, Deputy Attorney General Lisa O. Monaco announced the Department of Justice’s new Mergers & Acquisitions Safe Harbor Policy.[1] The policy aims to incentivize timely disclosures of misconduct uncovered during the M&A process by providing a safe harbor and a presumption of a declination to companies that comply with the new Safe […]

In a troubling ruling that potentially could impact estate planning across the country, a Massachusetts appellate court ruled that the corpus of a discretionary trust created by a parent in Michigan, for the benefit of an adult child living in Massachusetts, could be considered that child’s own property in the context of a divorce action.  […]

Modern families are complex and can consist of unmarried couples, married same-sex couples or couples in second marriages. These families may encounter unique estate planning challenges and may not always enjoy the same legal advantages, spousal rights, and tax benefits as others. For instance, couples who do not take the formal step of marriage under […]

Senior Counsel Robert M. Langer and Michael A. Kurs of Pullman & Comley have co-authored an article titled, “The Federal Trade Commission and the U.S. DOJ Antitrust Division during the Biden Administration Have Significantly Ramped Up Antitrust Enforcement: Non-Antitrust Lawyers Beware!” in the Connecticut Bar Association’s Connecticut Lawyer Magazine. The article discusses the efforts of the Federal Trade Commission […]

Greetings, Court Fans! It’s the first Monday of October, which means The Nine are back in action, and so are we. As we have for the past two decades or so, we’ll be summarizing each of the Court’s decisions throughout October Term 2023. But since the opinions won’t start to roll out until around December, […]

Ownership of real property in multiple states can raise many estate planning issues. How the property is titled (i.e., whether the property is owned directly or through an entity, such as a trust or a limited liability company, may have a dramatic impact on the settlement of your estate and the taxes due. Fortunately, there […]

Senior Counsel Robert Langer and Alundai J. Benjamin of Carlton Fields, P.A. co-authored an article titled, “The FTC’s 2022 Policy Statement Regarding the Scope of Unfair Methods of Competition Under Section 5 and its Potential Impact Upon Little FTC Acts” in the American Bar Association Antitrust Law Section’s Antitrust Magazine. The article discusses the potential significance of the apparent […]