Seyfarth Shaw LLP’s Post

Navigating financial management with adult children involves important decisions. Is it more advantageous to have joint accounts or to grant them power of attorney? Joint accounts offer immediate access but come with shared liability. Power of attorney provides control without ownership changes but requires careful selection of a trusted agent. Both options have distinct legal and financial implications. What are your thoughts or experiences with these arrangements? Let's discuss the best strategies for protecting and managing family assets effectively. #FinancialPlanning #EstateManagement #WealthManagement #LegalAdvice Feel free to share your insights and experiences!

I am thrilled to announce that I recently co-authored (Myron Rumeld Daniel B. Wesson) an article on ERISA class action litigation related to 401(k) fees and investment performance, which was published by Benefits Law Journal. The article is titled ERISA Fee and Investment Litigation – 2023 Developments and Best Practices to Mitigate Risk. It provides a brief overview of 2023 trends and developments, explores more closely the key rulings and developments from 2023, and is packed with valuable insights and practical tips for anyone working in this space.   If you have not been following this area of litigation, it is one of the most active in the labor and employment space. As we note in the article, there are currently over $10 trillion in assets held by 401(k) and similar plans in the United States. And, in 2023 alone, plaintiffs brought dozens of new class action cases and secured roughly $261 million in settlements with $85 million for attorneys’ fees. If you're interested in reading the full article, feel free to reach out privately, and I'll be happy to share a copy with you.   #ERISA #FeeLitigation #InvestmentLitigation #ERISAClassAction #FiduciaryDuty #LegalInsights #LitigationTrends

Check out our recent E-Newsletter for the latest firm news updates! Click here to find out more: https://lnkd.in/gBfpfXXC #newsletter2024 #foxlawfirm

It is never too early to set up a Lasting Power of Attorney... Having an LPA gives peace of mind that your finances, assets, and/or health needs are managed if you lose the capacity to do so. Swipe to find out more. Don’t leave it too late, start your LPA now: https://bit.ly/42soTcG #PowerofAttorney #LPA #LegalAdvice 

It is never too early to set up a Lasting Power of Attorney... Having an LPA gives peace of mind that your finances, assets, and/or health needs are managed if you lose the capacity to do so. Swipe to find out more. Don’t leave it too late, start your LPA now: https://bit.ly/45MjkWx #PowerofAttorney #LPA #LegalAdvice 

When entrusted to manage someone's assets or affairs, the highest legal obligation is fiduciary duty - acting with utmost good faith and undivided loyalty in the best interests of the person being served (the beneficiary). Fiduciaries can face severe consequences like removal, repayment of profits, monetary damages, and potential criminal liability for breaching these duties. At Outside Chief Legal, our corporate attorneys provide comprehensive guidance to companies, executives, board members, fund managers, trustees and other fiduciaries. Beyond legal expertise, we leverage business acumen to structure duties practically while facilitating core objectives. Proper fiduciary practices strengthen accountability and fortify beneficiary confidence critical for business success. Elevate standards by partnering with Outside Chief Legal's fiduciary duty professionals. #FiduciaryDuty #TrustObligation #EntrepreneurRisks #CorporateGovernance #BoardOfDirectors #InvestmentManagement #OutsideChiefLegal #ProtectAndPromote #OCL

It is never too early to set up a Lasting Power of Attorney... Having an LPA gives peace of mind that your finances, assets, and/or health needs are managed if you lose the capacity to do so. Swipe to find out more. Don’t leave it too late, start your LPA now: https://bit.ly/3Ov8rST #PowerofAttorney #LPA #LegalAdvice

Attention business owners, professionals, and property owners! The risks associated with your endeavors are on the rise, and legal protection is more crucial than ever. Our law firm specializes in creating legally sound asset protection strategies to shield your assets from potential litigation, judgments, and more. Don't rely solely on insurance—consult with our asset protection attorney to explore trust structures, business entities, and legal arrangements tailored to safeguard your wealth. Let's fortify your financial future together. https://buff.ly/48CWqT7 #AssetProtection #LegalSecurity #BusinessRiskManagement

Watch our informative video to discover the different types of recovery available and gain valuable insights into securing the compensation you deserve. Stay informed and empowered with our guidance! https://bit.ly/4aMwaHW #AccidentRecovery #LegalRights #InjuryCompensation

Curious about when Trust Litigation becomes essential? 🤔 Greg McIntyre breaks it down in his latest video: 👉 When a trustee fails to report accounting to beneficiaries. 👉 Need to sue the trustee for breaches or negligence. 👉 Validating or dissolving a trust becomes necessary. 👉 Suspicions arise about trustee's misuse of trust assets. Don't miss out on valuable insights! Watch now and empower yourself with knowledge! 💡 #TrustLitigation #LegalInsights #GregMcIntyre #EmpowerYourself Ready to take the next step? Contact us for a FREE consultation today! 📞💬 Call 1-888-999-6600 or visit mcelderlaw.com/scheduling to book an appointment. #FreeConsultation #TrustLitigation #CharlotteNC #ShelbyNC #HendersonvilleNC