In May 2005 an intoxicated Eugene Bottcher drove his vehicle off the road, hitting a boy and narrowly missing the boy’s brother. The boy who had been hit later died at the hospital from his injuries. After Bottcher hit the boy, he continued to drive, and when stopped by a passerby who had witnessed the accident, Bottcher tried to bribe him into not reporting the crime.
Business succession planning for contingent fees is important. The fight between your family and your former partners can be avoided. The example in the case below should motivate you to employ estate planning ideas in your partnership agreement. Alternatively, a buy sell agreement funded by insurance could have helped. It could have saved a lot of time and attorneys fees at the end.
THE SUPREME COURT OF THE STATE OF ALASKA
Supreme Court No. S-14060 Superior Court No. 3KN-04-00052 PR OPINION No. 6779 – May 3, 2013
SUZANNE C. DIMEFF and THE OLETA COWAN TRUST, Appellants,
ESTATE OF ROBERT MERLE COWAN and DALE DOLIFKA, PERSONAL REPRESENTATIVE OF THE ESTATE OF ROBERT COWAN, Appellees.
On March 24, 1989, the oil tanker EXXON VALDEZ ran aground on Bligh Reef in Prince William Sound, spilling 11 million gallons of crude oil. Litigation followed — in what became known as the Exxon Valdez Oil Spill (EVOS) Litigation, over 50 law firms and 30,000 plaintiffs appeared before the United States District Court for the District of Alaska.
Several years later, compensatory damages were calculated at $507.5 million and punitive damages at $2.5 billion. Continue reading “Business Succession Planning for Contingent Fees”
By: Clayton Walker, JD
The IRS issues lots of different notices for lots of different reasons, as tax attorney‘s we’ve seen a lot of these notices. In the upper right section of the notice should be a code. The code explains the purpose of the notice. We’ve assembled a table of the various kinds of notices that they may send you.
The Alaska Court System reported that there were no new opinions issued in Alaska, for any topics including those affecting companies or lawyers. The following is their complete report.
Alaska Appellate Opinions for the week ending April 19, 2013
Supreme Court Opinions — No opinions issued./span>
Supreme Court MOJsNo MOJs issued.–
Court of Appeals Opinions — No opinions issued./span>
Court of Appeals MOJs – No MOJs issued./span>
I was going to post a picture of the Alaska Supreme Court building. But, I haven’t taken any pictures of it. I also could not find any pictures of it in the public domain. So, I substituted the Ellis County Texas courthouse instead. The gothic architecture, turrets, lookout towers and stone exterior are impressive.
Nullum Tempus Occurrit Regi — No Time Runs Against the King.
Williams v. Ketchikan Gateway Borough, Alaska Sup. Ct. S14513 (Feb. 15, 2013). (Holding your personal residence is not exempt from local taxation simply because you built your home with federal grant money.) Was the grant money taxable income in the year received? Are the forgiveness provisions of the repayment terms taxable forgiveness of indebtedness income? If not, should they be?