Publications
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 […]
On August 24, 2023, Partner Michael Kasdan authored an article in Variety’s online magazine entitled, “AI-Generated Works Can’t be Copyrighted – Now What?” Mike’s article discusses the recent ruling in Thaler v. Perlmutter, which found that that a piece of art created solely by AI with no human involvement is not eligible for copyright protection. In the article Mike explains, […]
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 […]
Partner Michael Kasdan authored a EDI-focused publication in AUTM‘s newsletter titled, “Recognizing and Reducing Unconscious Bias for a More Inclusive Office.” The publication outlines the importance of bringing EDI education and conversations into workplaces, while highlighting how to become aware of biases and practices to reduce unconscious bias. To learn more and to read the […]
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 […]