Insights
Nationwide Injunction Renders Corporate Transparency Act Unenforceable
On December 3, 2024, a federal judge temporarily halted the enforcement of the Corporate Transparency Act (CTA), preventing the U.S. Treasury’s FinCEN from requiring Beneficial Ownership Information Reports (BOIR). While the ruling raises constitutional concerns, the case is on appeal. With a January 1, 2025 deadline approaching, businesses should stay alert to potential changes.
Sherwood & Robert Attorneys Selected for 2024 Super Lawyers
Super Lawyers recently named four Sherwood & Robert attorneys to its 2024 lists. Only the top 5% of attorneys are selected for the Super Lawyers’ lists each year and our firm is proud to be part of this select group of outstanding attorneys.
Corporate Transparency Act Constitutional Challenge on Appeal
The Corporate Transparency Act (CTA) is a law that has been much debated since it went into effect in 2024. Because the CTA impacts many of our clients, our firm keeps close watch on the law as it evolves and will share knowledge of important developments.
Sherwood & Robert Welcomes Kurston P. McMurray to the Firm!
After nearly a decade of successfully serving NGL Energy Partners LP (NGL), Kurston P. McMurray officially joined Sherwood & Robert on October 7th. The firm is excited to welcome Mr. McMurray aboard, as his extensive experience in both the public and private sectors will further strengthen the services offered to clients.
The Costs of Uninsured Motorists
As of 2024, Oklahoma has the 18th highest rate of uninsured motorists in the United States, with 13.4% of vehicles on its roads being uninsured. The average person will feel the effect of this, even if they are never involved in an accident themselves.
Women In Law Conference Hosted in Tulsa
For the first time in several years, the Oklahoma Bar Association’s Women In Law Annual Conference was held in Tulsa. Sherwood and Robert is proud to have been a Bronze Sponsor of the sold-out event, which was hosted at the historic Mayo Hotel in downtown Tulsa. Meredith Lindaman and Cheryl Jackson attended to represent our firm and be part of this important day.
Corporate Transparency Act: Access Rule Update
In our previous blog, we covered what the Corporate Transparency Act (CTA)[1] is, and what it means for your company. As expected, there has been an update to the CTA that our firm believes is important to communicate to our clients and community.
Law Clerk Forrest Kinney Makes Law Review
The entire team at Sherwood & Robert would like to congratulate our law clerk, Forrest Kinney, on being selected to the Tulsa Law Review for the upcoming year. He was selected after only one semester of law school.
New Federal Overtime Rules Impact On Your Business or Non-Profit Organization
On July 1, 2024, new federal regulations for overtime rules went into effect under the Fair Labor Standards Act (FLSA). Initiated by the U.S. Department of Labor (DOL), the rules are intended to make more workers eligible for overtime pay.
15 Financial FAQs for Nonprofit Boards
Effective financial governance is vital for the credibility and success of nonprofit organizations. Here are the top 15 financial governance questions that all nonprofit boards should know:
How the Corporate Tax Act Affects Your Estate Plan
The Corporate Transparency Act (CTA) was signed into law in January 2021, and went into effect January 1, 2024. Our previous blog explains in depth the CTA and what it means for companies, but the short story is organizations are now required to report to the Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury about who has an ownership interest in a business. As it’s written, the CTA might seem to only apply to entities created at the state level. But in actuality, the law will have a significant impact on individuals engaged in estate planning and real estate transactions.
New Notification Requirements for Oklahoma Non-Profits
As any non-profit organization knows, it’s incredibly important to share and report on required information in order to maintain their good standing and non-profit status. But many charitable organizations are unaware of a new law that went into effect last year that expands on the activities that should be reported to the State of Oklahoma.
Hugh Robert Receives 2024 Brunton-Will CLE Award
The Tulsa County Bar Foundation honored Sherwood & Robert principal Hugh Robert with the Brunton-Will CLE Award at its 2024 Law Day Luncheon. Given annually, the award spotlights Tulsa County Bar Association members who have provided outstanding contributions in the field of continuing legal education by advising attorneys on the theories and practical considerations of law, developing meaningful and thought-provoking educational programs, and teaching fellow attorneys the highest professional and ethical standards as exemplified by their own conduct in the practice of law.
Important Financial Reports That Every Board Needs
Effective nonprofit boards are characterized by active, engaged members who leverage their skills, experience, and networks to guide the organization toward accomplishing its goals. Attaining that high level of effectiveness isn’t luck; it requires hard work and having the right knowledge to steward the organization forward.
Corporate Transparency Act Ruled Unconstitutional
In our previous blog, we covered what the Corporate Transparency Act (CTA)[1] is, and what it means for your company. As expected, there has been an update to the CTA that our firm believes is important to communicate to our clients and community.
Fiduciary Responsibilities for Board Members
Board members act as stewards of public trust, acquiring knowledge and making sound decisions that ensure an organization’s assets and interests are well-managed. When individuals agree to serve as board members and become these stewards, they take on certain responsibilities that are both legally required and ethically necessary.
Marital Trust: What It Is and How It Works
Estate planning can be difficult to face, but it is one of the most important ways to make sure families are provided for after losing a loved one.
Proudly Sponsoring the 2024 Judicial Dinner
Sherwood & Robert is excited to be a gold sponsor of the 2024 Judicial Dinner hosted by the Tulsa County Bar held Thursday, February 8th.
Laid to Rest: Making a Clear Plan for Your Remains
Sherwood & Robert Attorney Darcy Worth has recently been featured in the Oklahoma Bar journal for her insightful article about the legal pathways available in Oklahoma for individuals to ensure their posthumous wishes are respected, aiming to mitigate potential family disputes over remains.
Sherwood & Robert Attorney AJ Martinez Featured In La Semana
In an article by La Semana, Sherwood & Robert Attorney AJ Martinez discusses the complexities of intellectual property law in the digital era.
Announcement of Firm Name Change - Sherwood & Robert
As part of the advancements we have planned for 2024, our firm is excited to announce Sherwood, McCormick & Robert will become Sherwood & Robert. We are changing our name following the retirement of our long-time colleague, John F. McCormick, Jr.
The Corporate Transparency Act: What It Means For Your Company and FAQ
On January 1, 2021, the National Defense Authorization Act (NDAA) was approved by Congress. Part of the NDAA is the Corporate Transparency Act (CTA).[1] The law goes into effect on January 1, 2024, and will have a significant impact on companies of all sizes and industries.
Lawyers Fighting Hunger Annual Thanksgiving Event a Huge Success
On Saturday, November 11, Lawyers Fighting Hunger held its Live Local, Give Local Annual Thanksgiving Event, which turned out to be one of the most successful years yet.
The Super Lawyers Recognizes Sherwood, McCormick, & Robert Attorneys for 2023
Our firm is proud to announce that four of our attorneys were named on the 2023 Super Lawyers’ lists.
Sherwood, McCormick, & Robert Welcomes Two New Attorneys
Sarah Marshall and Michael Anderson have joined Sherwood, McCormick, & Robert following their bar passage.
Darcy Worth Adds Estate Planning and Probate Expertise to Sherwood, McCormick & Robert
As part of our continual effort to expand the support we offer clients, Sherwood, McCormick, & Robert is proud to announce that Darcy Worth recently joined the firm.
Sherwood McCormick & Robert Sponsor Parkside By Your Side Charity Run
Parkside Psychiatric Hospital hosts By Your Side 5k & 1-Mile Dog Walk & Fun Charity Run annually to support Tulsans with mental health and socioeconomic struggles.
Sherwood McCormick, & Robert Recognized in 2022 Super Lawyers
This year, Sherwood McCormick, & Robert is pleased to congratulate four attorneys within our firm that were recognized by Super Lawyers, Ted Sherwood, Hugh M. Robert, Meredith Lindaman, and AJ Martinez.
Lawyers Fighting Hunger Hosts 13th Annual Easter Food Event
On Saturday April 16th, Lawyers Fighting Hunger hosted their 13th annual Easter food event. Lawyers Fighting Hunger is a 501c3 non-profit founded by Sherwood McCormick & Robert’s very own Hugh Robert.
Basics of Nonprofit Bylaws
If you decide to start a nonprofit, the first step you must take is writing your bylaws. Here's everything you must have in your bylaws, regardless of what type of nonprofit you are looking to start.
Rule Changes For Joint Employment Arrangements
The Fair Labor Standards Act sets out a set of standards for employers, and those standards may change depending on whether you are deemed a joint employer.
Sherwood, McCormick & Robert Helps Lawyers Fighting Hunger Feed 1000 Families in 2021 Event
583,570 people are currently facing hunger in Oklahoma. However, Lawyers Fighting Hunger ensured that 1,000 Tulsa families didn't face that this Thanksgiving. Lawyers Fighting Hunger started in 2009 when our very own Hugh M. Robert noticed that many non-profits had their funding cut right before Thanksgiving.
Oklahoma Eliminates Healthcare Power of Attorney
The power of attorney for healthcare is being eliminated under a new law that replaces the Uniform Durable Power of Attorney act. What does that mean for your healthcare planning?
3 Benefits of an LLC vs. C-Corp for Startup Businesses
Many startups default to using a C-Corp for their business structure, but is that always the right choice? Here's three reasons why you should consider choosing an LLC.
Estate planning can spare unnecessary heartache, stress, and legal costs
When someone doesn't have a will or estate plan, the estate goes through a process called “probate.” The courts then become responsible for distributing assets and settling debts. For large estates or complicated circumstances, this process can take years and cost hundreds of thousands of dollars in legal fees.
Uninsured/Underinsured Motorist Coverage- Is It Really Necessary?
A new study shows that one in four drivers in Oklahoma are on the road and carry no liability insurance (the highest number of uninsured in the Country.) Over half the drivers in Oklahoma either have no insurance or the bare minimum coverage. While the legislature is passing laws that have stiff penalties for not carrying insurance, it is not going to help get your medical bills or lost wages.
Special Rules for Falls that Happen at Casinos
Injuries that take place at a casino require claims to be filed in tribal court and have many special rules about pursuing the claim.
Simple Steps to Avoid Probate
What are the three most common assets in an estate? Generally, a house, car(s), and bank account(s). With all three of these assets, there are ways to transfer them upon death without the need to open a probate.
Planning Ahead: Advanced Directives
An advance directive, also known as a Living Will, is a document that informs healthcare providers as to the type of treatment you wish to receive for various end-of-life situations that render you unable to make treatment decisions.
Oklahoma Uninsured Motorists
Did you know that Oklahoma is the #1 state in the country for uninsured motorists? In 2012, 25.9% of Oklahoman drivers were uninsured. However, there is another problem surfacing in Oklahoma that causes concern for those drivers who are properly insured.