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Wood + Lamping LLP is proud to have been named a Tier 1 firm in eight practice areas, a Tier 2 firm in three practice areas, and a Tier 3 firm in two practice areas in Cincinnati for the 2025 edition of Best Law Firms® United States.
IMPORTANT LEGAL UPDATE
On March 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that limits the definition of “reporting company” to include only entities created under the law of a foreign country that are registered to do business in the United States. Under the new rule, businesses formed in the United States do not need to file BOI reports.Updated Deadlines for Foreign EntitiesForeign entities meeting the new “reporting company” definition must comply with revised deadlines:• Existing Foreign Entities: Those foreign entities that registered to do business in the United States before March 21, 2025, must file BOI reports no later than April 20, 2025.• New Foreign Entities: Foreign entities registering on or after March 21, 2025, have 30 days from the effective date of their registration to file an initial BOI report.Solicitation of Public CommentsFinCEN is accepting public comments on this interim final rule. The rule could change in response to such comments, but FinCEN plans to have a final rule in place within the year.Bottom Line1. Domestic companies and their beneficial owners are no longer required to file BOI reports.2. Foreign entities must file BOI reports and comply with the new deadlines.3. The new rule is in effect now, but it could change as it works through the regulatory process.FinCEN has not provided any indication what will be done with the data it received from entities that had already filed before these changes occurred.For detailed information, the full text of the rule is here.
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We are committed to delivering innovative solutions in an efficient, cost-effective, and comprehensive way—something we accomplish by leveraging our expertise in 17 distinct practice areas.
About Wood + Lamping
We pride ourselves on our values. There is no one-size-fits-all approach, and we are deeply committed to finding creative, customized solutions for you.
Experienced
Since 1927 we have been committed to delivering innovative solutions in an efficient, cost-effective, and comprehensive way.
Personable
We treat each client as we would expect to be treated ourselves—with respect, integrity, & compassion.
Responsive
As your legal representative, we are vested in you and mindful of your time and money. We are here when you need us.
16 Wood + Lamping Attorneys named Best Lawyers for 2025!
We’re thrilled to announce the 2025 class of Best Lawyers®. Congratulations to our award recipients!
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News & Insights
November 25, 2024
The probate administration process in Ohio is an important and necessary legal procedure that ensures the proper distribution of a deceased person’s assets and the settlement of their final affairs. While probate can seem complex, especially during a time of great emotional difficulty, it serves an important role in providing structure and clarity to the disposition of the decedent’s estate. For Ohio residents and those inheriting assets from a deceased person who resided in Ohio, understanding how probate works here can make the process less daunting. In this article, I outline the key steps of the Ohio probate administration process, the role of the probate court and the executor or administrator, and ways to streamline the whole process.
Becoming a parent is a wonderful adventure, and new parents have their hands full with learning how to parent. As emotional and stressful as it is to think about who will take care of their children in the event of their untimely deaths, parents should have a plan in place. In this episode of Simply Money, Mark Reckman outlines basic things that parents should know and should think about when going about the process of nominating a guardian for their children.
On April 23, 2024, the Federal Trade Commission (FTC) announced an administrative rule that would ban almost all non-competition agreements. The rule is scheduled to take effect in about four months (around August 2024). Within a couple days several businesses, including the U.S. Chamber of Commerce, filed lawsuits requesting that the rule be overturned. The courts may either reject the rule entirely, delay the effective date of the rule, or uphold the rule and permit it to take effect.
November 25, 2024
The probate administration process in Ohio is an important and necessary legal procedure that ensures the proper distribution of a deceased person’s assets and the settlement of their final affairs. While probate can seem complex, especially during a time of great emotional difficulty, it serves an important role in providing structure and clarity to the disposition of the decedent’s estate. For Ohio residents and those inheriting assets from a deceased person who resided in Ohio, understanding how probate works here can make the process less daunting. In this article, I outline the key steps of the Ohio probate administration process, the role of the probate court and the executor or administrator, and ways to streamline the whole process.
Becoming a parent is a wonderful adventure, and new parents have their hands full with learning how to parent. As emotional and stressful as it is to think about who will take care of their children in the event of their untimely deaths, parents should have a plan in place. In this episode of Simply Money, Mark Reckman outlines basic things that parents should know and should think about when going about the process of nominating a guardian for their children.
On April 23, 2024, the Federal Trade Commission (FTC) announced an administrative rule that would ban almost all non-competition agreements. The rule is scheduled to take effect in about four months (around August 2024). Within a couple days several businesses, including the U.S. Chamber of Commerce, filed lawsuits requesting that the rule be overturned. The courts may either reject the rule entirely, delay the effective date of the rule, or uphold the rule and permit it to take effect.
