Publications
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 […]
Imagine owning your family lot for decades, only to suddenly learn that, without your knowledge or permission, a house is being built on it. Upon realizing what has happened, you rush to the lot. Much to your surprise you see not only a $1.5 million house being built on your property, but learn the lot […]
A special kind of irrevocable trust, known as a qualified personal residence trust (or QPRT), may enable you to transfer your residence to your children (or others) at a significantly reduced value for tax purposes, yet allow you to continue to live in the residence for as long as you wish. Setting Up a QPRT […]
Wiggin and Dana’s Insurance Practice Group has published a recent Insurance Update. We are pleased to offer these periodic updates, with summaries of recent cases and legislation or regulations of interest, as well as the Group’s recent activity. To view our newsletter, please click the PDF link below.
Last Thursday, the U.S. Department of Justice (“DOJ”) sued Space Exploration Technologies Corporation (“SpaceX”), accusing the aerospace company of discriminatory hiring practices against refugees and people granted asylum in the U.S., in violation of the Immigration and Nationality Act (“INA”), which prohibits citizenship status discrimination at all stages of the hiring process including recruiting, screening […]
The Second Circuit recently issued an opinion that may move up the timeline for class action lawsuits following data breaches and help chart a course for plaintiffs seeking to establish that they have standing to sue immediately following such breaches. The court also reached several conclusions that will be critical points to consider for companies […]