Advising clients through hardship withdrawals and required minimum distributions becomes more complicated when tax laws and plan options contradict, as plan options are often more restrictive, Ed Slott writes. "Financial advisors should be familiar with planning strategies that are optional for company plans, before you assure your clients that the strategy is available," he writes.
Law firms are taking such steps as placing advertisements online as they look to represent clients filing lawsuits under New York's Child Victims Act. Courts likely are equipped to handle the cases that will emerge as a result of it, the state's chief administrative judge has said, and judges will undergo specialized training regarding the law.
Institutions including Columbia University, as well as nonprofits and museums, are considering whether to continue accepting philanthropic gifts from the Sackler family, which owns Purdue Pharma. A lawsuit against Purdue involves allegations that aggressive marketing of the company's OxyContin painkiller has helped fuel the opioid crisis in Massachusetts.
Some attorneys are voicing concerns over certain American Law Institute events, one of which is scheduled to take place in a federal courthouse, as the group holds discussions about its restatement of law on insurer liability in civil lawsuits. Such events could create the impression that federal judges endorse the group's restatement, one attorney said.
NASA said its system for managing drone traffic will be on display at sites in Nevada and Texas to "help the commercial drone industry understand the challenges posed by flying in an urban environment." Technology such as collision avoidance will be part of the demonstrations.
Michigan's Select Committee on Reducing Car Insurance Rates has established a website where residents can suggest ideas for lowering auto insurance rates in the state, which has the highest premiums on average in the US.
A lawsuit alleges that the federal government was aware that homes built in Houston's Barker Reservoir were at risk of flooding and allowed them to be inundated during Hurricane Harvey. A legal expert said such cases could shape the future of liability for storm damage.
A South Dakota Senate committee has advanced a proposal that would prohibit a wide range of mobile-device activities while driving. Doug Abraham, a lawyer representing APCIA, told the committee that a 20% to 40% decline in violations has occurred in states that have adopted such measures.
New York's Niagara and Chautauqua counties are exploring the idea of "opting out" of certain aspects of recreational marijuana if the state's legalization efforts succeed. The counties are considering whether they could prohibit purchasing, selling or growing recreational marijuana, although using pot would not be banned.
The Utah House has voted 70-0 in favor of legislation that would allow autonomous-vehicle testing on public roads. The bill now moves to the Senate.
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