NEWS & INSIGHTS
The attorneys at Buckley Fine strive to provide their clients with cutting edge legal solutions. Use their blogs, videos, and podcasts to learn more about their legal services, current issues, and how Buckley Fine can help you accomplish your goals.
Buckley Fine Law is pleased to announce that Nicole S. Arnold has been promoted to Partner
Buckley Fine Law is pleased to announce that Nicole S. Arnold has been promoted to Partner. Nicole concentrates her practice in corporate transactional work, business representation, commercial real estate, nonprofit formation and compliance, and estate and business planning.
Supreme Court Ruling on Business Life Insurance
The U.S. Supreme Court's Connelly ruling affects buy-sell agreements, requiring business owners to review and possibly restructure their life insurance policies. Cross-purchase agreements and updated valuation methods can help mitigate increased estate tax values. Contact Buckley Fine for a review.
The FDIC Changes the Rules on Insured Accounts Owned by Trusts
The FDIC has issued final regulations that, on April 1, 2024, changed how bank accounts held in the name of a trust will be insured. Now, both revocable and irrevocable trust accounts will be eligible for FDIC insurance up to $1.25M, which covers up to 5 beneficiaries at $250,000 each. Read more information on the changes.
College Packing List: Power of Attorney
As your child heads off to college, don't forget one essential item: a Power of Attorney (POA). Legally an adult at 18, they'll need a POA for you to manage health and financial matters if they can't. It’s a safety net that keeps you connected when it matters most.
Update on Overtime Regulations
On April 23, 2024, the U.S. Department of Labor (DOL) published its final rule amending the overtime regulations under the Fair Labor Standards Act (FLSA). Read more about what the Overtime Rule means for workers.
Federal Trade Commission update on Non-Compete
The Federal Trade Commission (FTC) has enacted a new rule on non-compete agreements. This rule prohibits creating new non-compete agreements after the rule goes into effect, which is 120 days after the rule has been published in the Federal Register. This change in regulation is likely to be challenged in court and marks a significant shift in employment law. Both employers and employees need to stay informed about this evolving legal landscape.
Our Commercial Real Estate Practice
In today's challenging market, securing a favorable deal in commercial real estate requires expert legal guidance. At Buckley Fine Law, our seasoned attorneys have facilitated transactions exceeding $1 billion, specializing in negotiating loan documents, structuring deals, and coordinating due diligence efforts. Whether it's negotiating SBA loans or optimizing tax benefits through strategic deal structuring, our team ensures each client receives legal solutions tailored to their needs.
Corporate Transparency Act Update
On March 1, 2024, a federal district court judge in the Northern District of Alabama sided with the plaintiff (National Small Business Association) and held the Corporate Transparency Act (CTA) unconstitutional. On March 4, 2024, FinCEN issued a press release stating that FinCEN is not enforcing the CTA against the plaintiffs in that action which includes entities which are members of the NSBA as of March 1, 2024. In other words, the decision only protects those specific parties.
Gift Tax Exemption
With the federal estate tax exemption set to reduce significantly in 2026, individuals and families should act now to utilize current exemptions. High net worth clients, especially, need to consider gifting strategies to minimize future tax impacts.
Bonnie Weis Selected as Illinois 2024 Rising Star
We are excited to celebrate Bonnie’s outstanding achievement of being recognized as a Rising Star by Super Lawyers.