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Revenue Ruling Places Limits on Pension Plan Transfers
In Revenue Ruling 2008-45 last month, the Internal Revenue Service held that the transfer of the sponsorship of a qualified retirement plan from an employer to an unrelated taxpayer violates the exclusive benefit rule contained in Section 401(a) of the Internal Revenue Code, if such a transfer is not made in connection with a transfer of business assets, operations or employees.
Legal Ethics: Choose Online Friends Wisely
Before diving into the world of online social networking sites, lawyers need to consider the risks, advises Bruce A. Campbell of Campbell & Chadwick in Dallas. Two risks these sites pose are licensing (for would-be lawyers) and potential discipline (for lawyers admitted to practice), he warns. Evaluating this risk is somewhat difficult, because electronic social networking is relatively new.
Family Law Attorneys Beware: Follow the Rules
Attorneys new to family court are often surprised that the Rules of Evidence are not always strictly followed, Rules of Civil Procedure are sometimes ignored, statutes are not always strictly applied and procedural oversights are not always a big deal. While defenders of these practices will argue that they are necessary to promote judicial efficiency in an already overwhelmed system, this may soon be a thing of the past.
Lean, Mean Bar Exam on California's Horizon
Ready for a shorter, meatier bar exam? California State Bar executives met Friday and Saturday with law school deans from around the state to discuss shortening the three-day California exam by a full day, while possibly adding five new areas of law to be tested. The proposed changes aim to cut costs and make taking the exam less onerous, but some law school deans aren't enthusiastic.
Should Peregrine's Former High-Flying GC Have His Wings Clipped?
Rick Nelson was Peregrine's high-flying GC during its heyday, but did his desire to rise to the top keep him from saying no to practices that led to the company's fall? That question may soon be answered: In July, Nelson was indicted on multiple counts of fraud for allegedly misstating company revenue. Nelson has pleaded not guilty and is scheduled to stand trial in April. He's told investigators that any failures were due to inexperience; he became Peregrine's GC only four years out of law school.
Out With the Old, in With the New
On May 12, Pennsylvania's new child support guidelines will become effective. Though there are several questions regarding what impact the changes will have, I feel safe in making one prediction.Fumo Convicted by Federal Jury on All Counts
After a five-month trial that was riddled with unusual twists, a federaljury on Monday convicted former Pennsylvania state Sen. Vincent Fumo on all 137 counts, delivering a sweeping victory to the federal prosecutors who accused Fumo of abusing his power to fund a lavish lifestyle on the tabs of taxpayers and a charity he created and controlled.Trending Stories
- 1Ex-Judge Tatel Regrets Focusing Clerk Hiring on Applicants from Elite Law Schools
- 2AI/IP Issues Part 1: State of the Law and Anticipating Issues Including Licensing Concerns
- 3A Novel (and 'Funnier') Ranking System for Law Schools: How Many Mentions in the Times
- 4Insights on M&A Trends: Midyear 2024 Expert Roundtable
- 5AI/IP Issues Part 2: What Current Litigation Can Tell Us About Where IP in AI Is Heading
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