When you sell a parcel of real estate, you have the expectation that everything will go reasonably smoothly. However, there are numerous things that can go awry before or during a real estate sale that can make things substantially more difficult, introducing potential legal or economic issues you will need to resolve. Here are five potential complications that can arise during your real estate sale: Continue reading “Five Things That Can Complicate Your Real Estate Sale”
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Weighing the Costs and Benefits of Bankruptcy
For some people, bankruptcy is a dirty word, and they do not want to confront even the possibility that they might need to declare bankruptcy to deal with their debts. And yet, in the wake of the coronavirus, even people who were previously financially secure have been pushed into situations where bankruptcy seems like an inevitability. Before you decide whether it might work for you, however, you should make sure you understand the costs and benefits of declaring bankruptcy. Continue reading “Weighing the Costs and Benefits of Bankruptcy”
Obtaining Bankruptcy Protection During the Coronavirus Pandemic
While the biggest concern most people have during the coronavirus crisis is to remain healthy and prevent exposure to the coronavirus, the economic impact is a close second. The coronavirus pandemic has, unfortunately, left many people out of work and many businesses closed for the foreseeable future, with unemployment estimated to rise as high as 30%. This means, through no fault of their own, many people have been left in dire financial straits, and potentially in need of bankruptcy protection. Continue reading “Obtaining Bankruptcy Protection During the Coronavirus Pandemic”
Seeking a New Home During the Coronavirus Pandemic
In the middle of the coronavirus epidemic, finding a new home may not be at the top of many people’s priority lists. Most people are looking to stay at home to avoid the coronavirus, not go out seeking someplace new where they’ll need to confine themselves. However, in many ways there has never been a better opportunity to find a new home, and there are ways for you to find your new dream home without exposing yourself to the coronavirus. Continue reading “Seeking a New Home During the Coronavirus Pandemic”
Planning Your Estate During the Coronavirus Pandemic
The coronavirus pandemic has brought people’s priorities into sharp relief, making the possibility of mortality more acutely apparent than any other time in recent history. Because of that, consideration of estate planning is likely on the rise during a challenging time when courts are closed, and most legal proceedings are on hold. However, it is still possible to do estate planning even now, and it should not be put off if the sole reason for delay is the inability to travel to a law office and meet with an attorney. Continue reading “Planning Your Estate During the Coronavirus Pandemic”
IRS Tax Filing Deadline 2020
The Internal Revenue Service recently issued Notice 2020-18 on March 23, 2020, announcing that no 2020 federal tax returns for the tax year 2019 are required to be filed until July 15, 2020. No tax payments in any amount are due until July 15, 2020. Interest and penalties will only begin to run if payment is not made on or before July 15, 2020. These rules apply across the board to individuals, trusts, estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Continue reading “IRS Tax Filing Deadline 2020”
Families First Coronavirus Response Act
On March 18, 2020, Congress and the President enacted the Families First Coronavirus Response Act, effective as of April 2, 2020 until December 31, 2020. The Act has multiple parts and obligates certain employers to provide additional paid sick leave and paid leave pursuant to the Family Medical Leave Act (“FMLA”) to any employees who are unable to work for reasons related to the coronavirus (COVID-19) pandemic. This leave time is above and beyond employers’ existing sick leave policies. Continue reading “Families First Coronavirus Response Act”
Supreme Court Issues Ruling on “Final” Bankruptcy Orders
The United States Supreme Court recently issued a ruling on bankruptcy orders, and when, exactly, they are considered “final.” While seemingly trivial and technical, this area of ambiguity has caused significant uncertainty for those seeking bankruptcy protection in the federal courts. By its ruling, the Supreme Court has clarified the rights of parties when they can appeal a decision regarding what is known as an application for relief from the automatic stay. Continue reading “Supreme Court Issues Ruling on “Final” Bankruptcy Orders”
Federal Court of Appeals Upholds Verdict in Favor of Wal-Mart Truckers
The Ninth Circuit Court of Appeals has affirmed a ruling in favor of Wal-Mart truckers, upholding a $54.6 million verdict in their favor. The ruling pertains to a class action suit filed by the truckers, alleging they were legally entitled to compensation for various expenses related to their jobs, which Wal-Mart refused to pay. The Court of Appeals upheld the verdict from the lower court, which said that the drivers were, indeed, entitled to compensation for these expenses. Continue reading “Federal Court of Appeals Upholds Verdict in Favor of Wal-Mart Truckers”
Pier 1 Imports, Inc. Puts Forward Bankruptcy Proposal
Pier 1 Imports, Inc. has said it will close as many as 450 stores and lay off thousands of employees as part of a bankruptcy plan it has presented to investors. Pier 1 Imports, a retail chain specializing in home decorations, has had difficulty maintaining its profitability in the face of the shift from physical retail locations to online shopping. If the bankruptcy plan is accepted, it is not clear whether Pier 1 will survive. Continue reading “Pier 1 Imports, Inc. Puts Forward Bankruptcy Proposal”
