June

Noncompete agreements are legal contracts that restrict employees from working for competitors or starting competing businesses for a specified period and/or within a certain geographic area after leaving a job. These agreements aim to protect employers by preventing former employees from using proprietary knowledge or trade secrets in competing ventures. However, the Federal Trade Commission (FTC) has recently finalized a rule to ban most noncompete agreements nationwide, effective September 4, 2024. This move is intended to promote competition, increase wages, and foster innovation, though it has sparked controversy regarding its impact on businesses' ability to protect trade secrets and make long-term investments in their workforce.

Discover the power of Self-Cancelling Installment Notes (SCINs) for family business transfers and estate planning. Learn how SCINs work, their tax benefits, and when to use them. Explore the advantages of SCINs in minimizing gift and estate taxes while transferring property between family members. Understand the impact on your estate and the income tax rules surrounding these financial instruments. Optimize your wealth transfer strategy with expert insights on Self-Cancelling Installment Notes.