Substantial Compliance The state probate code was amended in 2004 to permit documents that were intended to have testamentary effect but were not executed in accordance with the statutory requirements. The new probate code’s doctrine of substantial compliance holds that if a document was not executed in compliance with the statute, the proponent may establish […]
The imposition of penalties asserted against holders of undeclared offshore accounts has received much attention. Coupled with criminal prosecutions, including foreign banks, such as Credit Suisse and two of its bankers, should convince American citizens of the importance of compliance. The compliance obligation also applies to resident aliens and this is not surprising. The untold […]
Up to now, many firms could not conceive of a succession plan as being subject to ERISA. Fortunately, the Fifth Circuit, in Cantrell v. Briggs & Veselka Co., confirmed a 2-1 decision after a rehearing and held that deferred compensation provisions in two employment contracts did not constitute a plan under ERISA. This decision does […]
An Ohio man appeared in court seeking to reverse the 1994 declaration of his death. The declaration of death (“Declaration”) resulted from his disappearance from his home eight years earlier. Ohio law prevents a court from reversing such a Declaration after three years from its entry. The Ohio man is seeking to reclaim his social […]
