News and Publications


Child Support Obligations

Child support is a shared responsibility of both parents. No matter what custody arrangement exists between parents for the sharing of physical custody of a child, some sharing of financial obligations usually is ordered by the courts if one parent seeks child support from the other parent. In deciding whether a parent must pay child support, the courts focus on the earning capacity of both parents, and not simply on their actual earnings.


Valuation Discounts For Estate And Gift Taxes

Upon the death of the owner of stock in a closely held corporation, the fair market value ("FMV") of the stock must be determined before an estate tax return can be filed. For gifts of such stock, it is also necessary to ascertain the value of the stock for gift tax purposes. Unlike publicly traded stock, the value of which can be determined easily on the Internet or in a newspaper, stock in a closely held business has a value that is more difficult to nail down. By definition, the shares are held by a much smaller number of people and are not widely traded.


Should You Incorporate Your Business?

Following fast on the heels of a decision to go into a particular kind of business is the decision about what type of legal entity it should take. The most common options are a sole proprietorship, partnership, corporation, or a limited liability company ("LLC"). Traditionally, the corporate route enjoys an understanding of its concepts, and you may like the sound of having "Inc." after the company's name, but there are more practical, business-like considerations to take into account.


Where to Sue? Websites Can Affect Jurisdiction

In a nation of 50 different systems of state courts and a highly interconnected national economy, the issue of when one state's courts can assert jurisdiction over a nonresident person or business has always been fertile ground for litigation. State legislatures have addressed the matter with laws that are the civil counterparts to the notion that criminals cannot escape the "long arm of the law." But "long-arm statutes," as they are known, do have their limits.