Resources

Be On Alert—State of Delaware Ramps Up Unclaimed Property Enforcement

For those who thought the State of Delaware had gone out of the unclaimed property business—think again. After a 2017 overhaul of Delaware’s unclaimed property laws and an increased emphasis on voluntary compliance with those laws, Delaware is sending out dozens of “invitations” to companies to enter its’ Abandoned or Unclaimed Property Voluntary Disclosure Agreement Program (the “VDA... Continue Reading

Where There’s a Will, There’s Family: Pre-mortem validation and no-contest clauses to the rescue!

In recent years, many states have enacted pre-mortem validation statutes enabling testators or settlors to take proactive steps to avoid will or trust contests. Pre-mortem validation statutes provide a mechanism to be used during the testator’s life to ensure testamentary documents are declared valid and to avoid post-death challenges. Another approach that offers a strong deterrent to will... Continue Reading

District of Delaware to Continue Operations During Shutdown

On January 16, 2019, the U.S. District Court for the District of Delaware released a Notice regarding Court operations during the current lapse in appropriations. Although the Administrative Office of the United States Courts has advised that funding for Fiscal Year 2019 will be exhausted on Friday, January 25, the Court will “remain open and operational without disruption” after that date,... Continue Reading

Q&A on the Delaware Law Amendments Relating to Limited Liability Company Divisions

On August 1, 2018, the Delaware Limited Liability Company Act (DLLCA) was amended to add, among other things, a division statute (Amendments). The Amendments included new Section 18-217 which permits a Delaware limited liability company (LLC) to divide into two or more LLCs (each a Division company). In a division, the LLC effecting the division (the Dividing company) continues its existence or... Continue Reading

If You Can't Beat 'Em, Join 'Em: UDTA and Directed Trust Statutes Come of Age

Over the last decade, trust law has evolved so the role of trustee can better reflect the open architecture that modern families desire. It’s now commonplace for trust settlors to design so-called “directed trusts,” and existing trusts are frequently transferred to new jurisdictions to be modified through the use of techniques such as decanting, non-judicial settlements agreements, consent... Continue Reading

Analysis of the 2018 Amendments to the Delaware General Corporation Law

The 2018 amendments to the Delaware General Corporation Law (the ‘‘DGCL’’) were recently enacted. The amendments update the ratification statute, Section 204, to address recent case law. Nonstock or ‘‘membership’’ corporations are now also permitted to use the statutory ratification provisions to cure corporate defects. With respect to the avail- ability of appraisal rights in... Continue Reading

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