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Idea Power™
Please take a moment to visit our IDEA POWER e-newsletter featuring practice pointers and hot topics information.
On January 25, 2012, Louis P. Winner and Stacy Anne Hoehle were guest lecturers at the Kentucky Bar Association's January 2012 New Lawyers Program in Covington, Kentucky. The New Lawyers Program was attended by over 300 new Kentucky attorneys. Winner and Hoehle lectured on domestic violence advocacy.
On January 24, 2012, Anuj Rastogi, Stacy Anne Hoehle, Charity Neukomm, Robert Packard, and Robyn Smith served as volunteer interviewers for the Univeristy of Louisville Louis D. Brandeis School of Law Student Bar Association's program to help prepare 1L students for summer clerkship interviewers. Over fifty students participated in the program to gain interview and resume feedback from practicing attorneys in the community.
In 2012 Attorney Louis Winner was selected as one of Kentucky’s Top 40 lawyers under 40 by the National Trial Lawyers. Only 40 attorneys under 40 from the entire state of Kentucky are selected for this award each year.
Charity B. Neukomm has been named Vice-Chair of the Bankruptcy Section of the Louisville Bar Association for 2012.
Seiller Waterman is pleased to announce that Irwin Gerald Waterman has been elected Emeritus Counsel to the firm.
Irwin Gerald Waterman has been elected Emeritus Counsel to the firm, September 2011. A 1948 Graduate of the University of Mississippi School of Law, Mr. Waterman also obtained an L.L.M. in taxation from the New York University School of Law. As in previous years he was again named in Louisville Magazine as one of the Best Lawyers in Louisville in the practice of taxation in this, his 63rd year in the practice of Law.
Seiller Waterman extends its congratulations to the following attorneys who have recently achieved Martindale-Hubbell's highest rating of AV Preeminent:
They join our previously AV Preeminent rated attorneys:
Seiller Waterman's Planning and Asset Protection Practice Group is presenting a program for high net worth individuals on estate and gift planning ideas which should be considered for implementation before the end of December, 2012, in order to take advantage of the limited opportunities presented by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act, which was signed by President Obama in mid-December 2010. Seiller Waterman attorneys will be joined by Andrew Auchincloss and David Noosinow, of Bernstein Global Wealth Management, who will quantify the amount of estate and gift tax savings resulting from these planning techniques. This presentation will be held at the Louisville Boat Club on Tuesday, October 25, 2011, at 6:00 p.m. For further information, please contact Cheryl Houle at 502-584-7400 or houle@derbycitylaw.com.
Under the 2010 Act, Congress raised the exclusion for federal estate tax and generation-skipping transfer tax purposes to $5 million, and also raised the lifetime exemption for gift tax purposes to $5 million. At the same time, the 2010 Act lowered these various tax rates to 35%. Unless Congress acts, this law will sunset on December 31, 2012, at which time these exclusions and lifetime exemption will revert back to $1 million, and the tax rates for these purposes will increase to 55%. Due to the uncertainty involving any future law in this area, we strongly suggest that you consider taking advantage of the larger exclusions, exemption, and lower tax rates, as they may not be around after 2012.
Louis P. Winner to be a Guest Speaker on the Dr. Stan Frager Radio Show
Louis P. Winner will be a guest speaker on the Dr. Stan Frager radio show (AM 970) on Sunday, October 2, 2011 from 8PM to 9PM EST, discussing the topic of divorce in the older generation.
Seiller Waterman Attorneys will be Guest Speakers at the 2011 Kentucky Law Update.
Louis P. Winner and Stacy Anne Hoehle will be guest speakers at the 2011 Kentucky Law Update at the Northern Kentucky Convention Center on September 2, 2011. Winner and Hoehle will be giving two presentations: "Amanda's Law and Other Recent Developments in Domestic Violence Law" and "Overview of the New Statewide Family Court Rules." The programs are approved for CLE credit. To attend the seminars, contact the Kentucky Bar Association CLE Commission.
Seiller Waterman attorneys Shawn Fox and Robby Packard, of the firm's Estate Planning and Asset Protection practice group, will be presenting as faculty members at the National Business Institute's upcoming seminar: "Trusts 101: Exploring All Trust Options Available for Your Clients." This seminar will be held Thursday, October 27, 2011, at the Hilton Garden Inn Airport. It is a basic level program designed for professionals who are involved in creating, administering, and terminating trusts, such as attorneys, financial planners, accountants, CPAs, and trust officers, and is designed to give these professionals the knowledge they need to be able to provide their clients with the full spectrum of wealth preservation options. The program has been approved by the Kentucky Bar Association Continuing Legal Education Commission for a maximum of 6.75 credits, of which 1.0 hour relates to ethical considerations. Those interested can register by calling 800-930-6182 or by logging on to www.nbi-sems.com.
Legal Aid Society's Associates Campaign
Seiller Waterman is pleased to announce that it achieved 100% associate participation in Legal Aid Society's Associates Campaign. The Campaign is a fundraising effort to benefit Legal Aid's clients, many of whom would not be able to secure legal representation without Legal Aid's assistance and tireless efforts. According to Seiller Waterman member Bill Seiller, a longtime Board member for the Legal Aid Society, "Every dollar we spend to help Legal Aid saves the community many more dollars in social costs. This organization is a blessing to so many people who would otherwise be lost in our court system." Seiller Waterman is proud to have supported Legal Aid, one of its favorite local causes.
Seiller Waterman Hosts Program on the Capital Markets
On August 3, 2011, Bernstein Global Wealth Management presented a program on the capital markets at a breakfast meeting for Seiller Waterman attorneys. The program covered the historical and current status of the world stock and bond markets, a discussion of current economic and political events, and future market and economic prognostications. Bernstein has been a valued resource to Seiller Waterman and its clients since 2009, particularly in the areas of estate and gift planning and money management.
Seiller Waterman Team Advises Golden Foods/Golden Brands on the Sale of Businesses to AAK.
On July 1, 2011, Golden Foods/Golden Brands, the leading North American processor of specialty fats and oils and manufacturer of shortenings for the bakery and food service industries, sold its businesses to AarhusKarishamn AB, the world’s leading producer of high value-added specialty vegetable oils and fats.
Seiller Waterman advised Golden Foods/Golden Brands on the sale. Partners, Alan N. Linker, Anuj G. Rastogi, and Robert V. Waterman, led the Seiller Waterman team in this transaction.
Seiller Waterman Attorneys are Best Lawyers in Louisville
Louisville Magazine's 2011 "Best Lawyers as Picked by Their Peers" includes 7 of Seiller Waterman's attorneys. Included are:
Neil C. Bordy
David M. Cantor
Glenn A. Cohen
Joe H. Cohen
Alan N. Linker
Bill V. Seiller
Irwin G. Waterman
Note: Some of these files are in PDF format. They will require Adobe Acrobat Reader, a free download, to view them.
Seiller Waterman’s Intellectual Property Practice Group, under Practice Group Chair Kyle Citrynell, was ranked as one of the top three firms offering Intellectual Property Legal Services in the metro Louisville area in the May 27, 2011 edition of Business First.
Charity B. Neukomm presented The Debtor's Viewpoint at the Collection Law Conference
On May 19, 2011, the University of Kentucky College of Law hosted a Collection Law Conference. Attorney Charity B. Neukomm presented The Debtor's Viewpoint on behalf of Seiller Waterman LLC. The Collection Law Conference covered topics such as Prejudgment Remedies, Post judgment Remedies, and Bankruptcy Issues in Collection Cases. The program was presented to litigators, collection law attorneys, commercial and business counsel, law firm support staff, and collection agency employees. Ms. Neukomm focused on pre-bankruptcy planning and techniques for the effective resolution of collection cases in lieu of bankruptcy.
Louis P. Winner was a guest speaker on the Dr. Stan Frager radio show (AM 970) on April 24, 2011, discussing the topic of family law.
Bankruptcy attorney Neil Bordy helps troubled businesses reorganize and negotiate with creditors.
Business First has named Neil Bordy "The Fixer". Bankruptcy attorney Neil Bordy helps troubled businesses reorganize and negotiate with creditors. Please open link to see photo and article.
Kyle Citrynell, the head of Seiller Waterman's Intellectual Property Practice Group, will be speaking at Kentucky Crafted: The Market 2011, on Saturday, March 19, at 10:30 a.m. Ms. Citrynell and Richard Kolb, President of The Bandana Co., Inc., the creator of Yardbirds® sculptures, will present "Protecting Your Art Work," discussing their experiences protecting Yardbirds® copyrights and trademarks and offering advice on strategies for protecting intellectual properties. Ms. Citrynell has represented The Bandana Co., Inc. in over 30 copyright infringement cases.
Monument sculptor and long-standing Seiller Waterman client, Ed Hamilton, has been named the 2011 Morgan Professor by the University of Louisville, Department of Fine Arts, and is teaching Public Art, a graduate course, during the 2011 spring semester. Mr. Hamilton's course examines the interface between artist and architect in the creation of public works of art, and traces the creation of a public monument—from concept and commission, through committees, financing, and legalities, to execution and installation. Kyle Citrynell will be joining Mr. Hamilton as a guest lecturer on March 29, 2011; she will be lecturing on legal issues related to public art. Mr. Hamilton is well known for his sculptures in Louisville (e.g., the Lincoln Memorial in Waterfront Park, York on the Belvedere), across the state (e.g., the Justice William E. McAnulty, Jr. Memorial in Lexington, the Whitney M. Young, Jr. Memorial at Kentucky State University), and nationally (e.g. The Spirit of Freedom, African-American Civil War Memorial in Washinton, DC, The Amistad Memorial in New Haven, CN, The Joe Louis Memorial in Detroit, MI). For more information on Mr. Hamilton, visit www.edhamiltonworks.com.
Stacy Anne Hoehle was a panelist at the American Bar Association's 6th Circuit Spring Meeting and Governor Election on February 26, 2011. The event, hosted by the University of Louisville Louis D. Brandeis School of Law, drew law students from Kentucky, Indiana, Ohio, Michigan, and South Carolina. Hoehle shared insight about adjusting and thriving in the legal profession, and refining career expectations while in law school. Ms. Hoehle is a member of the firm's Family Law practice group.
Winner and Hoehle present Family Law half-day seminar
On November 4, 2010, the Family Law Section of the Louisville Bar Association hosted a half-day CLE seminar. Attorneys Louis P. Winner and Stacy Anne Hoehle presented on behalf of Seiller Waterman LLC. Andrew W. Green of Cotton Allen PSC was also a speaker. Winner, Hoehle, and Green discussed the Defense of Marriage Act, ramifications of Perry v. Schwarzenegger, and tax/estate planning for same-sex couples.
SW SPONSORS INTELLECTUAL PROPERTY SYMPOSIUM.
Seiller Waterman is a proud sponsor of this year's Intellectual Property Symposium for the University of Louisville Law Review. The Symposium will be at the University Club on Friday, November 5, 2010 from 3:00 p.m. to 7:00 p.m. This year's panel will include distinguished professors and practitioners from around the country (in addition to a professor from the University of Turku, Finland). Attendance is free. Registration for 3 CLE credits is $75.00, which can be paid by cash or check at the event (or in advance). To attend for free, to register for CLE credits, and for further information about the Symposium, including a schedule of the speakers, please go to http://www.law.louisville.edu/students/lawreview/symposium
Seiller & Waterman Member to speak at the Fundamental Probate and Practice Seminar
C. Shawn Fox, a member of Seiller & Waterman's Estate and Probate Practice Group, will be a speaker at the Fundamental Probate and Practice Seminar on November 15, 2010 in Louisville, Ky.
KENTUCKY COURT OF APPEALS AWARDS TRUST FUNDS TO SEILLER WATERMAN CLIENTS
Alan Linker headed a team of Seiller Waterman attorneys who recently achieved a victory in the Kentucky Court of Appeals on behalf of several prominent charities, including the Humane Society of the United States and People for the Ethical Treatment of Animals. The case involved a dispute over the distribution of a very large trust between the charities and the heirs-at-law of the trust settlor. In a unanimous published decision, the Court of Appeals adopted the position advanced by Seiller Waterman attorneys and awarded the entire proceeds of the trust to the charities. Read that opinion here.
IMPORTANT - Estate Tax Changes in 2010
What everyone in the estate planning legal community thought would never happen has happened. Congress did not enact legislation prior to December 31, 2009 to avoid the complicated one-year repeal of the federal estate tax and avoid the return to a carry-over basis regime for individuals dying in 2010. The current law will reinstate the estate tax on January 1, 2011 and will drastically reduce the estate tax exemption from $3.5 million (as it was in 2009) to $1 million for all individuals dying after January 1, 2011.
The one year return to carry-over basis requires beneficiaries of individuals dying in 2010 to inherit the same cost basis as the deceased individual had in his/her assets instead of receiving a fully stepped-up basis to the date of death value of such assets. This change could result in significant income taxes to beneficiaries when the assets are sold.
There are some exceptions to the carry-over basis rule. Estates may be able to increase the basis in certain assets by up to $1.3 million and up to another $3 million for qualified assets that pass to a spouse or certain trusts established solely for the benefit of a spouse. To avoid the unnecessary exposure to additional income taxes and take advantage of these basis adjustment rates, proper planning and drafting of documents is required.
The one-year repeal of the estate tax may also have an unexpected and adverse impact on Wills and trusts drafted with commonly used formula provisions, resulting in distributions contrary to those intended.
While the concept of no estate tax sounds like a good thing, the current law is fraught with pitfalls, but also presents potential planning opportunities. Please keep in mind that Congress could pass a new law in 2010, and attempt to make it retroactive to the first of this year. We encourage you to review your existing documents with us to see what, if any, changes might be required in light of the current status of the law.
Attorneys are 2010 Kentucky Super Lawyers:
Louis Winner heads Seiller Waterman's family law section.
With a practice which stretches across Kentucky and a national presence, Mr. Winner was recognized in 2006 by the judges in Jefferson County as one of the rising stars in the family law field. His recent article, Facebook meets Family Law, appeared in the Louisville Bar Briefs. Mr. Winner is licensed in Kentucky, New York and Texas. For more information on Mr. Winner, visit louisvillefamilylaw.com
Seiller Waterman LLC, led by the firm's senior real estate member, Joseph H. Cohen, is providing legal services for the upcoming Airport's Residential Sound Insulation Program. The Federal Aviation Administration (FAA) has determined that certain homes around the Airport are eligible for sound insulation improvements to minimize aircraft noise inside the home. The Louisville Regional Airport Authority (LRAA) is working with the FAA and C & S Engineers (which created the QuieterHome® Program) to administer these improvements.
Seiller Waterman recently gave their support to the Kentucky Bar Association "Rule of Law" Symposium on the Kentucky State University campus. Our support proved essential in making this historic event a success.
Kyle Citrynell authored the 6th Circuit Review Editor for the Defense Research Institute Commercial Litigation publication, The Business Suit, in 2009-2010 and will continue to cover developments in the 6th Circuit for the Business Suit in 2011.
Pam Greenwell was recently elected to the Board of Directors of the Louisville Forum.
Attorneys are 2009 Kentucky Super Lawyers:
Seiller Waterman Attorneys are TOP Lawyers
Louisville Magazine's 2009 "TOP Lawyers as Picked by Their Peers" includes 9 of Seiller Waterman's attorneys. Included are:
Neil C. Bordy
David M. Cantor
Glenn A. Cohen
Joe H. Cohen
Alan N. Linker
Bill V. Seiller
Irwin G. Waterman
Robert V. Waterman
A Seiller Waterman Litigation Team, Bill V. Seiller, Chris Bates, and Kyle Citrynell, finished a two week trial in U.S. District Court, Eastern District of Kentucky. The jury returned a three million dollar verdict on behalf of Seiller Waterman's corporate client against two former officers and directors for breach of fiduciary duty. The jury also returned a verdict against an incorporated Foundation for aiding and abetting the officers/directors in their breach.
BULLITT COUNTY JURY AWARDS SEILLER WATERMAN CLIENT $1.1 MILLION AGAINST McDONALD'S CORPORATION
After a month long trial, a Bullitt County, Kentucky jury awarded Donna Summers $1.1 million against McDonald's Corporation. Ms. Summers, represented by Glenn Cohen and Cindy Effinger, sued McDonald's Corporation for its intentional failure to train and warn her about a bizarre hoax caller who had plagued the fast food industry, including McDonald's, for more than ten years. As a result of her unwitting participation in the hoax call, Ms. Summers was charged with a crime, and ultimately entered an Alford Plea on that crime. Ms. Summers proved at trial that McDonald's knew its managers would be subject to criminal charges for their participation in the hoax call because several of its managers in the past were also charged with crimes. However, McDonald's did nothing to inform or warn its managers of the danger this hoax caller posed to its managers and employees. In fact, Ms. Summers proved at trial that McDonald's did not inform high level executives, including those responsible for the safety and security of its employees and customers, about this hoax caller. Ms. Summers proved that McDonald's knew she would fall victim to this caller and did nothing to warn her about it.
The jury awarded Ms. Summers $100,000 on her claim of intentional infliction of emotional distress against McDonald's, and placed equal fault on McDonald's and the hoax caller. The jury also awarded Ms. Summers $1 million in punitive damages against McDonald's for its reckless disregard of Ms. Summers' life and safety.
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