To keep or not to keep Wills with Nil Rate Band trusts?

Chances are, if you’re British, married and have a professionally drawn Will which predates 2008, you may have a discretionary trust of the Inheritance Tax Nil Rate Band (NRB) in it.  It is often called something like the ‘Legacy Fund’ and, while the exact words may differ, the Will usually provides for a gift of the NRB (currently £325,000 if fully available) to trustees to hold on discretionary trusts for the benefit of the surviving spouse and children.

Having any trust in a Will needs careful thought.  Will trusts add complexity and usually cost something to run after a death occurs.  It is always much simpler for married couples to leave everything to the surviving spouse outright in their Wills, if that is what is desired.  So it’s important to be clear, if you have a NRB trust in your Will, what benefit it may bring your heirs.NRB Will trusts were the product of the bad old days, pre October 2007, when there was no Transferable Nil Rate Band (TNRB) for married couples (including civil partners). 

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Multistate Tax Update — April 21, 2016

Texas: Two sales tax holidays coming up

Emergency preparation items

Beginning at 12:01 a.m. on Saturday, April 23, and ending at midnight on Monday, April 25, the Lone Star State is holding its Emergency Preparation Supplies Sales Tax Holiday. During this time, purchases of many emergency preparation supplies are tax free, without a limit on quantity. Retailers will not require exemption certificates.

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Forældelsesfrist udløber i 2016/2017

Den 1. januar 2008 trådte en ny forældelseslov i kraft. Det medførte, at mange kreditorer i 2006 og 2007 sendte påmindelser til debitorerne for at forlænge forældelsesfristen i 10 år. Nu er 10-årsfristen ved at løbe ud, og kreditorerne vil dermed lide betydelige økonomiske tab, hvis forældelsesfristen ikke afbrydes på korrekt vis, eksempelvis ved at foretage retslige skridt.

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OIG’s Evaluation Process and Non-Binding Criteria for Section 1128(b)(7) Exclusions

Our colleagues George B. Breen, Jonah D. Retzinger, and Daniel C. Fundakowski of Epstein Becker Green have published a client alert that will be of interest to our readers: “OIG Issues New Guidance on Its Evaluation Process and Non-Binding Criteria for Section 1128(b)(7) Exclusions.”

Following is an excerpt:

On April 18, 2016, the Office of Inspector General (“OIG”) of the Department of Health and Human Services issued a revised policy statement applicable to exclusions imposed under Section 1128(b)(7) of the Social Security Act (“Act”), pursuant to which OIG may exclude individuals or entities from participation in federal health care programs for engaging in conduct prohibited by Section 1128A (civil monetary penalties) or Section 1128B (criminal penalties for acts involving federal health care programs) of the Act. OIG typically invokes Section 1128(b)(7) when initiating exclusion proceedings in the context of False Claims Act (“FCA”) matters.

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ILN Today Post

Linda Robison appointed to Broward Health’s governing board

Governor Rick Scott recently appointed Ft. Lauderdale partner and former head of the state ethics commission Linda Robison to Broward Health’s governing board.

“This board serves an important purpose in the community and I am sure that Linda will be a good steward of taxpayer dollars, which the Board is entrusted to protect,” said Governor Rick Scott in a press release. “I’m confident she’ll faithfully service Floridians with honor and dignity.”

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Rainmaking Recommendation from Jaimie Field: Create a “Breakfast Club” for Referrals

Today’s Rainmaking Recommendation from rainmaking coach and trainer, Jaimie Field is one that I LOVE. It takes a little bit of extra initiative, but once you get it going, it will be something you both enjoy, and is part of your regular routine (and can reap some serious dividends).

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“Your Patient’s Data, But Not Your Breach,” Rick Hindmand quoted by Diagnostic Imaging

Your responsibilities for reporting HIPAA violations are complex, but reasonably clear, if your practice is responsible for the breach. However, what if the protected health information of your patients is violated, not by you, but by one of your business partners? What are your responsibilities then? That depends on whether the partner is a business associate or another “covered entity.”

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Welcome Stephanie Mui

Clark Wilson welcomes Stephanie Mui as an associate with our Technology, Intellectual Property, Franchising and Private Company Transactions Groups. Stephanie has experience in technology licensing, franchising, trade-mark prosecution and general corporate commercial work. We are pleased to have her join our team.

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NLRB GC Memo Offers Roadmap of His Targets for Expanding Union Protection, Cutting Back on Management’s Rights

Steven M. Swirsky

NLRB General Counsel Richard F. Griffin, Jr. has released a General Counsel Memorandum that offers an unusually frank insight into how he intends to use his office for the remainder of his term to pursue what he calls “initiatives and/or priority areas of the law and/or labor policy” to set an agenda to expand the rights of both represented and unrepresented employees and to pare back, substantially in many circumstances, the rights of employers in collective bargaining, responding to union organizing and to protect their businesses and reputations when they are attacked by employees and unions.

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ILN Today Post

“Red Flags” in Data Breach Notices that Get the Attention of the Attorney General’s Office

During the March 23, 2016 “Protecting Data and Dealing with Breaches” panel that I chaired for Massachusetts Continuing Legal Education (MCLE), Assistant Attorney General Sara Cable identified some “red flags” that the Office’s Data Privacy and Security Unit looks for when reviewing data breach notices under Massachusetts law.

All companies (including non-Massachusetts based) holding personal information of Massachusetts residents should know that the presence of these “flags” may increase the likelihood of agency inquiries (by email, phone or letter) or formal investigations (typically by a Civil Investigative Demand) under Massachusetts consumer protection statutes (including G.L. c. 93A), data breach statutes (including G.L. c. 93H and 93I) and its toughest in the nation data security rules (at 201 CMR 17.00). 

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