Resources

Client Alerts, News Articles, Blog Posts, & Multimedia

Everything you need to know about BMD and the industry.

You can now enter into a Postnuptial Agreement in Ohio!

Client Alert
July 21, 2023

Earlier this year, Ohio was one of just two states (Iowa) that did not permit couples to enter into postnuptial agreements – agreements made between married couples that separate their marital and non-marital property in the event of death or a future divorce. The Ohio Legislature changed this on March 23, 2023, when it passed S.B. 210 legalizing these agreements.

The new law considers that a couple’s financial health and goals often change throughout their marriage and that they should have the option to terminate or update an existing prenuptial agreement, or execute (and later modify if needed) a postnuptial agreement, to reflect these changes. To exercise any one of these options, the following conditions must be satisfied: 1) the agreement is in writing and signed by both spouses; 2) the agreement is entered into freely without fraud, duress, coercion, or overreaching; 3) there was full disclosure, or full knowledge, and understanding of the nature, value, and extent of the property of both spouses; and 4) the terms do not promote or encourage divorce or profiteering by divorce.[1]

Life is unpredictable and the new law affords Ohio couples greater flexibility when planning for their futures, which most likely look very different now than they did before marriage. The law also takes the pressure off engaged couples who are contemplating entering into a prenuptial agreement. Additionally, the ability to enter into a postnuptial agreement lessens the burden of dividing up assets if a couple were to ultimately divorce.

For questions regarding S.B. 210 and your options, please contact Cassandra Manna at clmanna@bmdllc.com or (216) 658-2206.

[1]  S.B. 210, 134th Gen. Assemb., Reg. Sess. (Ohio 2023). 

SB 210Postnuptial Agreement
Client Alert

Will Federal Legislation Open Cannabis Acquisition Floodgate?

February 18, 2021Are potential buyers quietly lobbying at federal and state levels to kick open the door to launch a new round of strategic acquisitions? Will presently pending federal legislation, the SAFE and MORE Acts, providing safe harbor for banks and re- or de-scheduling marijuana, be sufficient to mobilize into action major non-cannabis companies that previously shunned the cannabis industry due to the unknown implications of owning businesses whose activities are illegal under federal law?Client Alert

The Future of the Families First Coronavirus Response Act

February 3, 2021Over the last year we all have had to adjust to the new normal ushered in by the coronavirus pandemic. Schools and daycares closed, businesses transitioned from in-office work to work from home, bars and restaurants have closed their doors...all to slow the spread and try to prevent this pandemic from spiraling out of control. The start of the pandemic was utter pandemonium. Working parents trying to balance both caring for their now at-home children and their livelihood. Businesses trying to decide how to implement leave policies with limited information. Employees determining if they could financially afford to take time off. We were all flying by the seat of our pants trying to adjust to our new normal.Client Alert

Ohio Supreme Court Clarifies Medical Statute of Limitations

February 1, 2021The Ohio Supreme Court issued a decision in late December that clarifies and finalizes the Ohio law regarding the period of time in which patients can assert claims for medical malpractice. The Court was examining the interplay between three different statutes being the statute of limitations, the statute of repose, and the savings statute.Client Alert

Ohio Hospitals and Healthcare Clinics: It’s Time to Revisit Your Billing and Collection Practices

February 1, 2021According to a recent Cuyahoga County case, certain healthcare entities may not be protected from liability when engaging in unfair or deceptive billing acts. This decision is consistent with the growing trend across the country to encourage price transparency and eliminate unfair surprise billing practices by health care organizations. Now is the time for hospitals and other health care organizations to revisit their billing and collection policies and procedures to confirm that they are legally defensible and consistent with best practices.Client Alert

HIPAA Business Associate Agreements: Why These Contracts Matter

January 27, 2021No one loves drafting, reading or negotiating HIPAA Business Associate Agreements (BAAs). Yet many of us need to do so, and some of us do so daily. They are often boring, dense and technical, but BAAs are important from both a legal and a business perspective, and they deserve our attention. Failure to enter a BAA when one is required can constitute a HIPAA violation that results in substantial liability, as demonstrated by certain recent Department of Health & Human Services (HHS) settlements.1 A business associate who makes a disclosure that is not authorized by the applicable BAA or required by law can be subject to civil and, in some cases, criminal penalties. Further, parties are often presented with BAAs that contain onerous one-sided indemnification and other provisions that can be devasting to an organization in the event of a HIPAA breach. The significance of a BAA is often not fully understood by the parties until something goes wrong (e.g., a HIPAA security incident or breach, an Office of Civil Rights (OCR) audit or a fracture in the relationship between the parties) and, at that point, there is limited opportunity to mitigate legal and business risk. Ideally, attention should be given at the commencement of the business associate relationship, when the parties are able, to thoughtfully addressing regulatory requirements, planning and preparing for potential adverse events and appropriately allocating risk among the parties. As with most healthcare regulatory compliance initiatives, a proactive approach with respect to BAAs is preferable. This article provides a broad overview of certain BAA requirements and some practical negotiating tips for the parties involved.
Older posts
Newer posts