Trust the Leader
Many families, especially those with high net worth, are deeply interested and involved with philanthropy. Over the last several years, such families have transformed their vision of philanthropy from giving to a number of charitable organizations to strategic philanthropy – funding particular projects for charitable organizations.
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The IRS has released the 2021 cost-of-living adjustments applicable to the dollar limitations on benefits and contributions of retirement plans and health and welfare benefit plans. Plan sponsors should update their systems and formulas to include the limits that have been adjusted. These limits are effective January 1, 2021.
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Many contracts contain an “inability to perform” provision. And these same provisions also often times provide specific excusable reasons for a party to not perform, followed by a catchall statement, setting forth “or any other cause beyond the parties reasonable control, whether or not such other cause shall be similar in nature to those hereinbefore enumerated”. With the COVID-19 pandemic still in full effect, businesses across New York City have begun to face significant economic hardships, and are thus pointing to this catchall statement, as confirmation that they are likely excused from performing their contractual duties. However, they should not… Read more
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