In this episode, host Michael Clear welcomes back Corporate Partner R.J. Kornhaas to unpack the critical responsibilities and risks associated with modern board membership. Michael and R.J. supply actionable insights on the legal and fiduciary duties board members must uphold, how to assess an organization before joining, and the questions every prospective director should ask.
Digital Assets may be poised to revolutionize the financial world and the velocity of moving money across the economy. On this episode of Future Focused: Sophisticated Estate Planning, host Erin Nicholls and Corporate partner R.J. Kornhaas welcome guest Jake Claver, Managing Director of Digital Ascension Group, a multifamily office serving high-net-worth and ultra-high-net-worth clients. Jake
In the final episode of our speaker series, Partners and Family Office Co-Chairs, Erin Nicholls, R.J. Kornhaas, and Dimitri Tournas delve into the unique capabilities and services offered to high net worth individuals and family offices, highlighting the firm’s expertise in real estate, corporate transactions, and personalized private client services. This episode also
On this episode, hosts Erin Nicholls and Michael Clear welcome corporate Partner R.J. Kornhaas to discuss the intricacies of investing in privately held businesses and business succession planning. They delve into essential considerations, such as the types of investments—including convertible notes and preferred stock—and emphasize the importance of having legal counsel review documents to safeguard
On the fourth episode of our speaker series, Partners Erin Nicholls, R.J. Kornhaas and Dimitri Tournas dive into the key compliance requirements of the Corporate Transparency Act (CTA) and its impact on small to medium-sized companies. They break down the new federal beneficial ownership registry, the filing requirements, and the challenges of identifying beneficial
What is a Family Office?
A family office is a private wealth management entity that may provide a variety of services to a wealthy family, such as investment management, financial planning, estate planning, and philanthropy. Family offices can be set up as a standalone entity or as a division of a larger company. The beauty
New York has become the first state to enact an analogue to the federal Corporate Transparency Act (the “CTA”), having signed the New York Limited Liability Company Transparency Act (“NYLTA”) into law on December 22, 2023, and later amending it on March 1, 2024. The NYLTA, which will become effective on January 1, 2026, aims
On Friday, March 1, 2024, Federal District Court Judge Liles Burke of the US District Court for the Northern District of Alabama issued a ruling on National Small Business United d/b/a National Small Business Association v. Yellen, in which the Court found that the Corporate Transparency Act (CTA) is unconstitutional “[b]ecause the CTA exceeds the
The reporting requirements under the Corporate Transparency Act (CTA) will come into effect on January 1, 2024. The U.S. Treasury estimates that more than 32 million pre-existing entities and approximately 5 million new reporting companies annually over the next decade will have to register under the CTA.
The CTA was enacted on January 1, 2021
Originally published on February 11, 2021.
The Corporate Transparency Act (CTA) was enacted on January 1, 2021 as part of the National Defense Authorization Act creating a federal beneficial ownership registry applicable to corporations, limited liability companies (LLCs) and most partnerships. Targeted at small, privately-held business entities, the CTA requires these organizations to report