The Second District Court of Appeals affirmed the trial court’s decision that held when a payment that was due 45 days after execution of the contract that payment had to be made regardless of the fact that the 45th day landed on a Saturday. In Metro Development Group, L.L.C. v….
Would anyone ever want to say, “No, thank you, I don’t want it,” to an inheritance? Actually, yes! There are many reasons that a beneficiary of an estate may not want to receive an inheritance. For example, a beneficiary may not need the money, a beneficiary may want the assets…
The American Jobs Creation Act of 2004 added section 409A to the Internal Revenue Code (the “Code”) to address abuses in the use of nonqualified deferred compensation plans revealed by the Enron hearings and the Joint Committee on Taxation’s concerns that many nonqualified deferred compensation plans “allowed improper deferral of…
March 1 is the deadline for making application for the homestead exemption. Obtaining homestead exemption is important to the homeowner in two ways. First, homestead exemption reduces the assessable value of property by $25,000. Second, persons who properly file for homestead exemption receive the benefit of Article VII of the…
Changes in the transfer tax laws effective January 1, 2006, will benefit many estate planning clients. However, these increases may cause some unintended results. For this reason, this is a good time for clients to review their estate plans to be sure that their goals are still being met under…