Under the Corporate Transparency Act (CTA), the deadline for “reporting companies” to file their initial beneficial ownership information (BOI) report with FinCEN is just over three months away. Since time seems to fly by much…
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/ Business Organizations, Finance & Banking, Taxation
As we celebrate the 50th anniversary of the Employee Retirement Income Security Act of 1974 (ERISA), it is important to reflect on the impact this legislation has had on private sector employee benefit plans such as traditional…
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/ Labor & Employment Law
Recently, Michigan added a new section to the trust code, making it possible for trust settlors to create “quiet” or “silent” trusts in Michigan. As the name implies, in a silent trust arrangement, a trustee is not required to…
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/ Family Law, Taxation, Wills, Trusts, & Estate Planning
An owner hired a contractor to make improvements on real property, but the contractor failed to pay its subcontractors or suppliers. What happens next? Under Michigan’s Construction Lien Act, contractors, subcontractors,…
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/ Construction Law, Finance & Banking, Real Estate - Residential
We understand that running an automotive supplier business involves more than just industry-specific issues. That's why we regularly provide important insights and tips on broader legal trends to help you navigate challenges…
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/ Labor & Employment Law, Taxation
Whether caused by family member thoughtlessness, employee error or the acts of a skilled data thief, everyone is likely to be the victim of an information breach at some point.
A cyberattack on a family office or family…
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/ Business Organizations, Privacy, Science, Computers, & Technology
Recent developments spotlight issues with forfeiture and other unallocated accounts in defined contribution retirement plans, such as 401(k) plans:
•The IRS has set the deadline for plan forfeiture use.
•Participants in…
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/ Finance & Banking, Insurance, Labor & Employment Law, Taxation
On August 20, 2024, a Texas federal court blocked the Federal Trade Commission’s (FTC) Noncompete Rule scheduled to go into effect on September 4, 2024. Unlike a preliminary injunction entered earlier this year, which only…
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/ Antitrust & Trade Regulation, Civil Procedure, Labor & Employment Law
Two U.S. District Courts in Texas issued stays on July 25, 2024, and July 26, 2024, respectively, delaying indefinitely the effective date of the final fiduciary regulations and related prohibited transaction exemptions released…
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/ Finance & Banking, Labor & Employment Law, Securities Law
In a 5-2 opinion released July 29, 2024, the Michigan Supreme Court upheld its own authority to extend litigation filing deadlines during the COVID-19 pandemic. The plaintiff in Carter v. DTN Management Company, Karen Carter,…
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/ Administrative Law, Civil Procedure, Constitutional Law
In a major decision issued Wednesday, the Michigan Supreme Court reinstated both the Earned Sick Time Leave Act (ESTA) and the Improved Workforce Opportunity Wage Act (IWOWA). As discussed further below, the Mothering Justice v…
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/ Constitutional Law, Labor & Employment Law
The Tax Cuts and Jobs Act (TCJA), which became effective on January 1, 2018, made significant changes to tax legislation that impacted individuals, families, business owners and companies. Some changes were intended to be…
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/ Taxation
The business world woke up Friday to yet another emergency. A CrowdStrike outage has caused computer shutdowns across the globe affecting businesses in every sector. More likely than not, your business is being affected by this…
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/ Business Torts, Science, Computers, & Technology
On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit (the “court”) vacated the private fund adviser rule (the “rule”) adopted by the Securities and Exchange Commission (SEC) in September 2023.
Notably, during the…
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/ Finance & Banking, Securities Law
Recently, I attended the 2024 Summer Meeting for the American College of Trust and Estate Counsel (ACTEC) in Toronto. While there I presented to ACTEC’s Digital Property Committee on ghost hacking. Ghost hacking is when a…
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/ Consumer Protection, Privacy, Wills, Trusts, & Estate Planning
