Keeping in Touch: July/August 2017

Dominick Feld Hyde in the News

Eleven Dominick Feld Hyde attorneys are included in the 2018 edition of the Best Lawyers in America, one of the most highly regarded referral publications in the legal profession. 

Attorneys who were recognized by Best Lawyers® for 2018 in their respective practice areas are: 


William J. Bryant - Tax Law and Litigation and Controversy – Tax 
Susan Dominick Doughton – Health Care Law
Gregory D. Hyde – Litigation - Trusts and Estates and Trust and Estates
Sammye Oden Kok – Family Law and Family Law Mediation
Terry McElheny - Closely Held Companies & Family Businesses Law, Corporate Law, Employment Law-Management and Non-Profit/Charities Law
Douglas L. McWhorter – Trusts and Estates
Denise J. Pomeroy – Family Law
Judy Shepura– Trusts and Estates
Dale B. Stone – Litigation – Trusts and Estates and  Trusts and Estates
Kathrine O. Wilburn - Litigation-Trusts and Estates, Tax Law, Trusts and Estates
Brian T. Williams – Employee Benefits (ERISA) Law, Litigation – Trusts and Estates, Litigation and Controversy – Tax, Tax Law, and Trusts and Estates


Three Dominick Feld Hyde attorneys were named "B-Metro's Top Women Lawyers 2017".  Shareholders Susan D. DoughtonSammye Oden Kok, and Denise Pomeroy were listed  in the August edition of B-Metro Magazine.  You can view the Women in Law section by clicking here.

 

 


ALERTS

USCIS Issues New Form I-9 Effective September 18, 2017

On July 17, 2017 the United States Citizenship and Immigration Services (USCIS) released an updated Form I-9. Employers will need to adapt to the change and use the new form by no later than September 18, 2017 or face the possibility of large fines. Most of the changes are subtle, purporting to make the form easier to navigate. You are unlikely to notice these changes without a close comparison to the soon-to-be-outdated document. The easiest way to be sure you are using the new version is to examine the “revision date” printed on the bottom of the form. The previous version of the form, released in November 2016 and required to be used as of January 2017, will contain a notation on the bottom of the page informing you that the document was created “11/14/16 N.” The new version now states “7/17/17 N.”

Although you will be permitted to use the previous version through September 17, 2017, we recommend employers cease using the November 2016 version and instruct hiring managers and human resources representatives to begin using the updated version right away. On September 18, 2017, all employers will be required to use the revised form, so it makes sense to avoid any delay and begin use of the new version immediately.

It is important to note that the failure to use the new form by the September 18, 2017 deadline can result in significant fines to employers. Immigration and Customs Enforcement (ICE) announced increases in fines for Form I-9 violations in August of 2016. Simple violations can lead to a minimum fine of $216 per Form I-9 violation, with maximum fines for more egregious and/or willful violations reaching $3,000+ per instance. Based on the Trump administration’s stance on immigration enforcement, it is increasingly likely that ICE will increase its audit activities, so it is imperative that employers have taken proper compliance measures.



 

Our Current Articles

Uncertainty reigns
Estate tax repeal now a real possibility


Both President Trump and the Republican majority in Congress support elimination of “death” taxes, so there is a good chance a bill to repeal the estate and generation-skipping transfer (GST) taxes will appear on the legislative agenda soon. But how will a repeal affect estate planning? This article discusses reasons why estate planning will remain essential and why dynasty trusts may begin to play a bigger role in planning strategies. A sidebar explains the pitfalls of using a formula clause.   

Full article >


Zeros and ones …
Account for digital assets in your estate plan

Personal assets, such as pictures and other items stored in the cloud, social media accounts, online bank and brokerage accounts, and business assets, such as a company’s website, domain name, client databases and electronic invoices, all fall under the umbrella of digital assets. If a person dies without addressing these assets in his or her estate plan, loved ones or other representatives may not be able to access them without going to court — or, worse yet, may not even know they exist. This article explains how to properly address digital assets in an estate plan.

 



Inheriting property? 
Be aware of the basis consistency rules

Legislation enacted in 2015 can have a significant impact on many estates as well as on beneficiaries who inherit property from those estates.  It provides that the income tax basis of property received from a deceased person cannot exceed the property's fair market value as finally determined for estate tax purposes.  This article details the basis consistency rules.

 


Reviewing your company's buy-sell agreement

If you own a business with someone, you have likely established a buy-sell agreement in case you or a co-owner voluntarily or involuntarily leaves the company.  Assuming this is true, remember that it is not enough to draft an agreement and put it in a safe place.  You need to review and perhaps revise the document periodically.

 


 

  

Dominick Feld Hyde's practice areas have grown and now comprise nine broad categories: Business, Estates, Family Law, Healthcare and Tax. Within these areas, our attorneys have experience in a wide range of specialized legal services.