https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00SportsandEntertainmenthttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngSportsandEntertainment2019-07-18 13:43:282019-07-18 13:43:28Items of Interest: Interstate wagering, Nike and the Klaw, Sports Betting
When you think about the statutes and codes that govern the construction and design process in North Carolina, does the N.C. Fair Housing Act come to mind? Probably not—but it should, or your clients may be needlessly exposing themselves to an expensive risk. According to Lawyers Weekly, in 2016 one of the largest settlements in North Carolina resulted from a construction and design dispute under the N.C. Fair Housing Act (NCFHA). The developers, builders, and architects of the SkyHouse high rise apartments in Raleigh and Charlotte agreed to pay $1.8M to correct sliding door thresholds which were inaccessible to people with disabilities. This wasn’t an isolated case. Owners, contractors, and designers around the country have paid out millions of dollars to resolve fair housing construction disputes. You and your clients can’t afford to be unaware of the Fair Housing Act.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Constructionhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngConstruction2019-07-18 12:37:102023-02-24 12:28:10Fair Housing for Construction Lawyers
As we enter the post-Fourth of July dog days of summer, many of us are either just returning from vacation, leaving soon for a vacation or daydreaming about an upcoming vacation. After recently returning from an annual “vacation” at the beach with my family and some friends (and I say “vacation” because we have 4- and 6-year-old boys), I spent some time thinking about the various stages of my time away.
Stage 1: Preparing to Leave Work Behind
The first stage begins even before vacation starts. Undoubtedly, there is the mad rush of deadlines, scrambling to get projects to the stage where they can safely lie dormant for at least a week and trying to avoid calls/emails/incoming work that could completely upend your vacation plans.
If you can safely navigate away from the office without any major events, you can start to relax. Well, maybe start to start to relax. As most vacations begin on a Saturday or Sunday, there’s the rush of travel involving luggage, cars, airplanes, shuttles, boats and maybe all the above.
https://www.ncbarblog.com/wp-content/uploads/2019/07/BeachKids_edited.jpg310357NCBARBLOGhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngNCBARBLOG2019-07-16 10:05:452019-07-16 12:38:51The Stages Of a Lawyer’s Vacation
The Tax Cuts and Jobs Act of 2017 doubled the unified exemption for the estate, gift, and GST taxes from about $5.6 million to about $11.2 million (adjusted yearly for inflation). This dramatic change means for years after 2017, a married couple can gift during life or pass by their death up to $22.4 million of assets free of transfer taxes. While many high net worth clients are aware of the doubled exemption, it is less well known that this doubled exemption is set to expire on December 31, 2025.
This is not the first time Congress has used a sunset schedule for the unified transfer tax exemption amount. At the end of 2012, taxpayers faced a similar dilemma when it was uncertain whether Congress would act to prevent the automatic reversion of the unified transfer tax exemption from about $5.12 million to $1 million. In that case, Congress did act to keep the exemption at $5.12 million. It is unclear, however, if the same will occur in 2025, particularly given the rhetoric about “taxing the ultra-wealthy” from presidential candidates and Democratic Senators such as Bernie Sanders and Elizabeth Warren. This uncertainty calls for tax planning designed to take maximum advantage of the Tax Act’s increased exemption regardless of what may happen at the end of 2025.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00TAXhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngTAX2019-07-15 14:11:362019-07-15 14:11:362017 Tax Act’s $11.2 Million Estate, Gift, and GST Tax Exemption Will Expire In 2025