Transfer on Death Deeds: Additional Probate Avoidance Planning
Effective July 1, 2013, the Virginia legislature adopted Virginia Code Sections 64.2-621, et seq. which authorized the creation of transfer-on-death (TOD) deeds. Under the new law, an owner of real property (identified as a transferor) may execute a TOD deed which will transfer his or her property to one or more beneficiaries effective at the time of the transferors death. The TOD deed does not otherwise affect the tranferors rights to the property during his or her lifetime. Additionally, the transfer at death occurs outside of the probate process.
By Philip L. Hatchett and Private Client Services
Employment Law Update - Winter 2014
It is very important for employers to properly determine whether individuals in their workplace are employees or would more properly be classified as volunteers, independent contractors, or owners. This is because many of the federal laws prohibiting discrimination and otherwise establishing employee rights may not apply if the person in question is not an employee.
By Labor & Employment
Private Client Services Update - What Really is Inherited with a Limited Liability Company Interest?
Limited liability companies (LLCs) quickly have become one of the most effective and frequently utilized ownership vehicles for small business. LLCs are extremely easy and inexpensive to create. Whenever there is more than one member of an LLC, it is vitally important that the parties have a meaningful Operating Agreement in place. Unfortunately, in many instances, there is either no Operating Agreement at all, or there is a form Operating Agreement which does not accurately reflect the parties wishes or intentions at the time they formed the entity together.
By Sarah E. Messersmith and Private Client Services
Credit Union Legal Predictions - 2014
The nationally recognized Kaufman & Canoles Credit Union Team is once again revealing our top predictions or major legal challenges for credit unions in 2014. At Kaufman & Canoles we believe that legal fees for credit unions need to be better managed, controlled and hopefully even reduced.
By E. Andrew Keeney, Brian O. Dolan, Erin Deal, Dustin H. DeVore, Marc E. Darnell, Alfred M. Randolph Jr. and Lender Representation
Credit Union Legal Update - Winter 2014
- Borrowers Bad Faith and Emotional Distress Claims Against Foreclosing Credit Union Dismissed
- Anti-Deficiency Statute Does Not Bar $1.35 Million Suit Against Guarantor
- Denying Loan Modication Did Not Violate HAMP or Borrowers Due Process Rights
By Brian O. Dolan and Lender Representation
Changing the Rules: Recently Implemented and Recently Proposed Amendments to the Federal Rules of Civil Procedure
Kristan Burch was recently featured in the Fall 2013 issue of Litigation News, "Changing the Rules: Recently Implemented and Recently Proposed Amendments to the Federal Rules of Civil Procedure"
By Kristan B. Burch and Litigation
Private Client Services Update - Collaborative Divorce Process: Your Client Should Know This Alternative to Divorce Litigation
The Collaborative Practice offers couples ending their marriage a team of qualified and collaboratively trained professionals who work together to help them make decisions about the legal, financial, and emotional issues of divorce.
By Dale Truitt Berrett, Family Law and Private Client Services