PLDO Law Blog
HOW A HOLOGRAPHIC WILL CAN LEAD TO LITIGATION
In season four of Succession, Logan Roy, the patriarch of the family and acting CEO of Waystar Royco, suddenly passes away amid a corporate merger. The majority ownership of the company was divided amongst the Roy Family, in what appears to be a series of highly...
I’VE WATCHED SUCCESSION – WHY ON EARTH WOULD I GIVE MY KIDS THAT LEVEL OF POWER?
Step into the “way back” machine when a younger media mogul, Logan Roy, was contemplating the succession of his empire and grooming his children by giving them management positions in the company. This is a common scenario in business, as well as estate planning....
HOW TO LEGALLY CHANGE OR REVOKE A WILL IN RHODE ISLAND
A last will and testament is a legal document that states your final wishes for your assets and estate. Commonly, the will you originally create will need to be amended or modified as life circumstances change. For example, births, marriages, divorces, and deaths...
WHAT IS A SUBCHAPTER V BANKRUPTCY PROCEEDING? WHY MORE BUSINESSES SHOULD CONSIDER FILING
On August 23, 2019, the Small Business Reorganization Act of 2019 (“SBRA”) was signed into law and became effective on February 19, 2020, which added Subchapter V to Chapter 11 of the United States Bankruptcy Code. Subchapter V is a relatively new and underused avenue...
ARTIFICIAL INTELLIGENCE IN THE HIRING PROCESS: EMPLOYERS BEWARE
The rapid rise of Artificial Intelligence (AI) in the workplace is outpacing our ability to keep up with it. For example, companies are struggling whether and how to allow employees to use ChatGPT at work given the numerous privacy and security risks posed by this new...
FLORIDA CANNABIS LAWS UPDATE
While Florida Governor Ron DeSantis has made clear his opposition to legalizing recreational cannabis use in Florida, trends certainly seem like they are going in that direction. For example, in April, the state doubled the number of licenses available to cultivators...
COMPREHENSIVE CHANGES TO LAND USE AND ZONING LAWS
As part of the 2023 legislative session, the Rhode Island General Assembly passed numerous laws, all with varying degrees of impact on zoning and land use issues. One such bill changes the standard by which municipal zoning boards judge applications for a dimensional...
IRS TARGETS MONETIZED INSTALLMENT SALES IN PROPOSED REGULATIONS
IRS Commissioner Werfel has continued the theme from the Dirty Dozen list published in early 2023 to promulgate regulations regarding monetized installment sales. This particular brand of transaction has been marketed to high income individuals with the promise of a...
KEYS TO THE KINGDOM: BALANCING MERIT VS. INHERIT MODELS IN THE FAMILY BUSINESS
A recent article published by Harvard Business Review outlines the importance of distinguishing between merit compensation and inheritance.1 In most family businesses, the second generation inherit positions and compensation, which is usually a formula for disaster....
