Governor Carney Appoints Ellen Magee as Sussex County Register of Wills – State of Delaware News
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NEWS FEED
Governor Carney Appoints Ellen Magee as Sussex County Register of WillsDate Posted: January 2, 2021
First $700,000 in Opioid Impact Fee Funding Allocated for Treatment of Substance Use DisorderDate Posted: January 1, 2021
Governor Carney, DPH, DEMA Announce Community COVID-19 Testing Sites Date Posted: January 1, 2021
Weekly COVID-19 Update-Dec. 31, 2020: New Positive Cases, Hospitalizations Remain Elevated, Deaths Continue to IncreaseDate Posted: December 31, 2020
New 2nd Street On-Ramp to I-95 Southbound OpensDate Posted: December 31, 2020
DPH Announces First Flu-Related Death of 2020-2021 SeasonDate Posted: December 30, 2020
Suspension of required minimum distributions for qualified retirement plan accounts
Valuations
In general: Many estate and business succession planning tools require a valuation of a business or real property or other assets. The best valuations are done by independent third parties, and these take time.
Please plan ahead: it might already be too late for 2020. There are many reasons for valuations: succession planning, estate planning, stock and option programs, partnership splits, refinancing, recapitalization, divorce, etc. There is inherent tension on the reasons for the valuation and the use of the valuation. For example, for estate and succession planning purposes, lower valuations are desired. However, for stock redemption and option programs, the valuations often need to be at fair market value. Please keep these items in mind when securing and using a valuation.
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Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on or before the maturity of the loan including before the end of the covered period if the borrower has used all of the loan proceeds. But that does not mean a borrower should submit a loan forgiveness application as soon as possible. There are many considerations you should take into account when deciding when to submit forgiveness applications to the lender. Patience and adequate preparation might be more than just virtues in the PPP loan forgiveness context; they might lead to financial benefits for borrowers as well. This article discusses the timing considerations and other items that might affect a borrower’s decision to submit the loan forgiveness application to its lender.