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McBrayer Blogs

Showing 7 posts from September 2015.

Updating estate plan ensures its accuracy, relevance, effectiveness

Most people are generally aware of the importance of getting an estate plan in place. Regardless of who you are, you can benefit from an estate plan, whether it be a simple or complex one. For family business owners, of course, having an estate plan is particularly important to ensure the success of the business. And, in fact, most family business owners do have estate plans. More >

Survey shows Kentucky needs improvement in “business friendliness”

Getting a business off the ground is no easy matter. Regardless of what state you do business in, there are going to be challenges, but some states make it a bit easier for entrepreneurs than others. According to a recent survey, Kentucky doesn’t rank that highly overall when in this area. The Thumbtack’s Small Business Friendliness Survey found that small business owners throughout the state give the state an overall grade of C+. More >

Is it time to revisit one's estate plan?

It can be hard enough to realize the value of an estate plan. Those who realize such value can still fall into the trap of believing that such a plan is a "one and done" proposition, a set of documents that only needs to be executed once and requires no maintenance. Unfortunately, nothing could be further from the truth. Estate plans should evolve, and just as one's financial situation and family members may change, so should the corresponding estate planning documents. Luckily, there are certain milestones that can hint that an estate plan should be given a tune-up, and these life markers are easy to spot. More >

FTC Issues Guidance for Merger Investigations

In early August, the Federal Trade Commission ("FTC") released guidance on best practices for merger investigations. This is the first major update for such guidance since 2006 and the publication of "Reforms to the Merger Review Process." The new guidance addresses mechanisms by which merging entities can smoothly effectuate an FTC merger investigation in three key areas: Early Voluntary Submission of Information, Effective Use of Withdraw and Refile, and Negotiating the Second Request. More >

Tesla announces stock sale to expand business

Most of our Kentucky readers have probably heard of Tesla Motors, the auto manufacture which produces electric vehicles and sells them directly to consumers rather than going through a dealer. At present, there are only several states which allow direct sales of Tesla vehicles. There are also several states where such sales are prohibited. In states where Tesla vehicles may not be sold, Tesla locations may only serve as showrooms. Kentucky is among the states where there are no Tesla locations. More >

Work with experienced attorney to navigate tax issues with stock sales

In our last post, we began speaking about the recent Tesla Motors stock sale announcement. As we noted, the company is hoping that the move will help expand its business presence, a task that has been somewhat challenging. More >

Third Circuit Upholds Authority of FTC to Uphold Data Security

There are a multitude of federal laws such as HIPAA and Gramm-Leach-Bliley that impose penalties for failure to protect certain types of client data in certain circumstances, and even states have gotten in the act with Kentucky providing a private right of action for consumers affected by data breach. To date, however, there is no comprehensive federal legislation designed to safeguard sensitive client data in all circumstances. The Federal Trade Commission feels otherwise, recently invoking the Federal Trade Commission Act of 1914 ("the Act") to argue that failure to protect client data is an unfair or deceptive business practice in violation of the Act. In the case of FTC v. Wyndham Worldwide Corporation¸ the Third Circuit agreed. More >

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