Samuels Law Blog - Page 5 of 46 - Samuels Yoelin Kantor LLP

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Because Your Government CARES

Valerie Sasaki May 27, 2020 No Comments

Valerie Sasaki, of Samuels Yoelin Kantor, LLP facilitated a “Cocktails and Conversation” discussion with the Portland Chapter of Women in Insurance and Financial Services, which explored the recent Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES Act is Congress’ comprehensive legislation to provide relief to individuals, families, and businesses that are adversely affected by the Coronavirus pandemic. Despite frequent news coverage and criticism, the scope and effect of the CARES Act can seem impenetrable because it contains so many separate moving parts. In this discussion, Ms. Sasaki walked through the different components of the CARES Act and explained how each works to combat the economic hardship brought about by the Coronavirus epidemic.

The CARES Act is a $2 trillion economic relief package that creates new aid programs and expands existing programs. State and local governments will receive $339.8 billion, the majority of which goes to specific COVID-19 response efforts. The rest of the state and local government relief is divided between education, community development, and family assistance programs.

Notice and Comment Period for Proposed Corporate Activity Tax (“CAT”) Rules Ends

Valerie Sasaki May 26, 2020 No Comments

Time marches on and the time to comment on several of the Oregon Department of Revenue’s Corporate Activity Tax (“CAT”) rules ends today, May 26 at 5pm. While the Oregon State Bar Taxation Section did not officially comment on the rules, three attorneys, including Samuels Yoelin Kantor, LLP’s Valerie Sasaki, did submit comments on the math problem that is Proposed OAR 150-317-1200. Essentially, the CAT is only imposed on a taxpayer’s Oregon receipts. The question of how to calculate that though, has led to what we believe are some unintended flawed results for taxpayers that have costs and labor concentrated relative to certain income streams.

While the section did not officially comment, several folks whose names don’t appear on the final comments contributed to discussing the comments and accompanying examples, which you can find below as downloads. We are proud to practice as a part of a community that values good tax policy, even in difficult times.

Powerful Words: Positive and Negative Language

Victoria Blachly May 24, 2020 No Comments

Susan Russel shares, through the American Academy of Estate Planning Attorneys, how powerful both positive or negative language can be. These tips are helpful to keep in mind, whether you are managing a difficult legal situation with your counsel or even if you are managing a quarantine.

Top 5 Tips From My Service as a Pro Tem Judge

Anastasia Yu Meisner May 23, 2020 No Comments

With the growing divide between judicial budgets and the demand for court services, Oregon continues to look to part-time judges to help bridge the gap. These part-time judges are known as Pro Tem Judges.

As a private attorney serving as a Pro Tem Judge in the Washington County Probate Court, my public service has been a privilege and honor. And having one foot in both private practice and one inside the Court has provided me with a unique experience. The following 5 tips are specific to my familiarity of the Washington County Probate Court, but most of these tips are good best practices to apply to any probate matter in an Oregon court.

COVID-19 & Forbearance Agreements

Van M. White III May 22, 2020 No Comments

With new times come new terms. Six months ago we had never heard of Coronavirus or social distancing. Now, we hear those terms so often we look forward to the day we never hear them again. Another term we’re starting hear in the wake of the Coronavirus outbreak is forbearance. Prior to COVID-19, most of us probably didn’t know what forbearance meant. Unfortunately, the financial impact of COVID-19 will likely cause many businesses and individuals to seek forbearance agreements with their creditors.

Forbearance means the action of refraining from exercising a legal right, especially enforcing the payment of a debt. A forbearance agreement is an agreement between a lender and a borrower (or a creditor and a debtor) to temporarily suspend the payments owed by the borrower to the lender. Forbearance agreements are often entered into in lieu of the lender filing a lawsuit to foreclose a mortgage or trust deed.

Borrowers, or debtors, adversely affected by the Coronavirus outbreak may need to enter into forbearance agreements with their creditors if unable to make their payments when due. Pursuant to the CARES Act, persons who have a federally backed mortgage can seek forbearance of their mortgage payments for up to nearly a year (they can initially apply for 180 days and then seek a 180 day extension). Many mortgages are federally backed. Interested persons should contact their loan servicer to determine if their mortgage is federally backed. Even if a mortgage isn’t federally backed, given the widespread financial impact of the outbreak, there is a fair chance the lender has some forbearance or other options available.

Stimulus Checks Incorrectly Sent to Deceased People – What To Do Now?

Anastasia Yu Meisner May 13, 2020 No Comments

The recently passed CARES Act included many provisions to provide economic aid, relief and stimulus for America. As a part of the new law many Americans will receive stimulus checks officially called Economic Impact Payments.

US citizens and permanent residents qualify to receive $1,200 for single and head of household filers, and $2,400 for married couple filer, with an adjusted gross income (AGI) up to $75,000 for individuals who file as single or married filing separately, $112,500 for head of household filers, and $150,000 for married couples filing joint returns. Reduced amounts will be sent to those who have a higher AGI. However, those with an AGI over $99,001 for single or married filing jointly, $136,501 for head of household, and $198,001 for married filing jointly, will not receive any money.

POLST & COVID-19: Are Your Legal Documents Current & Do They Reflect Your Wishes?

Victoria Blachly May 13, 2020 No Comments

Dr. Susan Tolle, Chair of the Oregon POLST Coalition, created a 5-minute video that guides viewers through a POLST form (Portable Orders for Life-Sustaining Treatment). This standardized, single page, brightly colored form can be vital for healthcare providers in managing fragile or seriously ill patients towards the end of life, and particularly helpful for managing one’s wishes for intensive care treatment and assisted breathing with ventilators.

Reviewing Investment Account Statements During Market Volatility – Five Red Flags

Darlene Pasieczny May 7, 2020 No Comments

Seeing that account balance number can hurt. And not all investment losses are potentially recoverable or due to inappropriate recommendations by a financial advisor. But in times of market volatility, reviewing investment account statements might reveal claims for losses that are actionable and recoverable – if prompt action is taken.

Warren Buffet’s much repeated quote, “only when the tide goes out do you discover who’s been swimming naked,” rings true once again today in the sawtooth market volatility of the coronavirus global pandemic. The Dow Jones Industrial average hit a record high of 29,551 in mid-February. Today it stands about 20% lower than that, having seen the price of crude oil slipping into negative territory and other wild news. Some market sectors have been hit disproportionately, and there is no end in sight to the turmoil. Investors are waking to unexpected margin calls while struggling to maintain liquid assets.

Guardians & COVID-19: Facts You Should Know

Victoria Blachly May 1, 2020 No Comments

The National Guardianship Association, National Center for State Courts, and ABA Commission on Law and Aging created a helpful “FAQs for Guardians about the COVID-19 Pandemic”.

Things are shifting swiftly, from state to state or facility to facility, so this information about access or contact with vulnerable adults and access with the courts will provide some guidance.

The Pandemic Makes the Power of Attorney More Important Than Ever

Anastasia Yu Meisner May 1, 2020 No Comments

Do you have a loved one living in a care facility and due to Covid-19 they are not able to leave? Or are you self-isolating in your home and unable to run your typical errands? Are any of your or your loved one’s financial or medical needs being unmet due to the Corona Virus? If so, you’re not alone.

I recently received a call from a daughter whose elderly mother was stuck in a care facility. Both the daughter and her mother were befuddled because all of the mother’s financial affairs were on hold.

As a general practice the daughter would organize her mother’s monthly bills and go through them with her. She would help her mother write checks to pay her doctor co-pays, her cable bill, etc. Also the daughter would join her mother on calls to manage her mother’s banking and investments needs.

Now the daughter can’t visit her mother. And both women wanted to know if they would be in trouble with bill collectors or at the very least pay a lot of late fees if they were not able to timely address mom’s financial affairs.