Kaufman and Canoles



Private Client Services Update - 2011 Virginia Legislative Update - Trusts & Estates Law
The 2011 Virginia legislative session resulted in several important changes to trusts and estates law. Of particular note, any bank may now serve as a trustee in Virginia, even if the bank does not have an office located within the Commonwealth. This is helpful for clients who have relocated to Virginia after having established a fiduciary relationship with a bank in another state.
By Sarah E. Messersmith and Private Client Services

Real Estate Strategies Update - May 2011
Over the past few months, K&C’s Real Estate Strategies Group has had the privilege of assisting clients in numerous real estate matters. Below is a summary of a few recent transactions.
By Real Estate Strategies Group

The Costs of Not Complying
It seems as though almost daily a new regulation is published or an existing regulation is modified. What are credit unions to do? What about the concept of ignorance of the law? What about not complying?
By E. Andrew Keeney

From Subway to Supercuts
Thanks to the ongoing "jobless recovery," more out-of-work or underemployed Americans are considering franchises as the answer to a bleak job market. The International Franchise Association forecasts that the industry will see 2.5 percent growth this year, with nearly 20,000 new franchise establishments opening nationwide, creating 194,000 new jobs. If you are considering franchise ownership, below are several "dos" and "don'ts."
By Stephen E. Story

Five Ways to "Green" Your Small Business
Mention the word "green" to most small business owners and they think dollars. But increasingly they’re also thinking about the environment. Today companies are finding that the "going green" trend benefits not just the environment but also a firm’s bottom line. The question for many business owners then is how to get started.

Aircraft Registration Requirements Revamped
Once upon a time, you bought and registered an aircraft and it was registered for good as long as you continued to operate it. However, the days of a permanent registration for all aircraft are gone, causing a new headache for corporate flight departments everywhere. Under new FAA rules that took effect last fall, for all aircraft (including helicopters) that were registered before October 1, 2010, the registration expires according a table of rolling dates based on the month the current registration was issued.

Private Client Services Update - Keeping Them Honest - Curbing Abuse by Agents Appointed in Powers of Attorney
No one recites their wedding vows to his or her new spouse anticipating a breach of the trust represented by them. It is much the same with a principal who executes a power of attorney in favor of his or her designated agent. Be it a spouse, child, grandchild or trusted friend, a principal has formed an expectation that his or her agent will act in his or her best interest within the confines of the executed document. The sad truth of the matter is that the same breach of trust experienced by many married couples also plagues those in a principal – attorney in fact (or agent) relationship.
By Vonda W. Chappell and Private Client Services