The coronavirus pandemic has wreaked havoc on the construction industry.It has greatly reduced productivity, caused material prices to skyrocket, and slowed the supply chain. This has impacted nearly all contractors – builders and suppliers – who are forced to allocate or absorb the increased costs.1 They also face performance deadlines that are rendered unrealistic and, in some cases, impossible to meet.Until the pandemic’s effects are greatly alleviated, supply chains will likely remain ambivalent and unpredictable.
For years, by including language in account agreements, banks have been able to apply funds deposited at their institution – funds that would otherwise be controlled by the account holder’s payable on death (POD) designation – directly to a decedent’s outstanding debt owed to that institution, without any need to file a claim (in court or in otherwise).
The following is an example of such a set-off provision, which may be found in an account agreement:
Continue Reading Why Your Clients’ PODs at Banks May Be Ineffective
Simply transferring a farm to the next generation is quite easy. Successfully transitioning a farm business for the mutual benefit of all parties involved, however, is much more complicated. It takes time, planning and the weighing of a multitude of considerations.
Step One is to identify the successor. Will the farm be transitioning to family or to a third party? If to family, does s/he understand the commitment it takes to own and operate the farm business? Doe s/he…
Continue Reading Farm Succession Planning
Whether you are an upstream party who is dissatisfied with a downstream party’s progress (or lack thereof) and want to throw the bums off the job, or a contractor who hasn’t been paid and figure you can work for free anywhere – before you make your next move, ask yourself: Do I feel lucky?
If the answer is ‘yes,’ you aren’t likely to read the rest of this article. But if you do, hopefully you’ll change your tune about…
Continue Reading Risks of Terminating a Construction Contract: Upstream and Downstream Perspectives
By: Attorney Alison C. Petri
Parents have many questions when their child with disabilities is about to turn age eighteen (18). Once your child is an adult you will no longer have the same ability to legally access or assist with your child’s financial or health care decision making. What legal documentation your child needs to get assistance with such issues depends on your child’s disability and their capacity to execute legal documents.
The goal is to implement a…
Continue Reading Planning for Children with Disabilities Transitioning to Adulthood
Technology has made drones less expensive and more powerful. Thus, they are more prevalent today, as both a pastime and a key component of some businesses, including those in the construction context.
Federal, state, and local units of government license and regulate Unmanned Aircraft System (UAS) use, and violations can be subject to state and federal civil and criminal penalties.
In Wisconsin, a drone – technically known as an Unmanned Aircraft System or UAS – is generally defined as…
Continue Reading Sky is the Limit for Drone Use in Construction
I am excited to announce that Attorney Gary Koch has joined the Landlord-Tenant Law team at Petrie + Pettit starting August 30th.
With nearly 20 years of experience, Gary D. Koch joins the Petrie + Pettit S.C. team to assist primarily with its Real Estate Law practice group, focusing on landlord-tenant law. Attorney Koch has represented landlords for over 10 years, has spent his career handling debtor and creditor matters, and is well versed on all facets of landlord/tenant…
Continue Reading Petrie + Pettit Welcome Attorney Gary Koch to its Landlord-Tenant Law Team
Late Thursday, August 26th, the U.S. Supreme Court struck down the CDC’s latest version of the Eviction Moratorium which was set to expire on October 3, 2021. The Supreme Court’s conservative majority stated that the temporary eviction ban exceeded the CDC’s authority to combat communicable diseases, which resulted in landlords’ having to bear the pandemic’s costs, much to their detriment.
The Court wrote that “The moratorium has put . . . millions of landlords across the country, at risk of…
Continue Reading CDC Eviction Moratorium Struck Down By U.S. Supreme Court
The CDC’s eviction moratorium finally ended at midnight on July 31, 2021.
The moratorium could not be extended due to the U.S. Supreme Court’s decision that the CDC exceeded its statutory powers and didn’t have the right to issue an eviction moratorium in the first place. Thus, any future federal moratorium will need to be created by Congress via legislation. Congress tried to organize something in an attempt to pursue legislation late last week but did not have enough people on…
Continue Reading The CDC's Eviction Moratorium Has Finally Ended . . . Now What?
During the COVID-19 pandemic, construction material prices rose substantially and, in some cases, skyrocketed to record high levels.1
Lumber prices reached historic highs in May 2021, with futures prices rising from $423 per thousand board feet as of Jan. 8, 2020, to a $1,607 per thousand board feet on May 10, 2021.2
Although lumber prices have started to fall, prices are still nearly double January 2020 prices. The rise in lumber prices has largely been attributed to…
Continue Reading Construction Material Price Increases: Options for Contractual Risk Shifting
By: Attorney Gina C. Ziegelbauer
This is the question our clients have when they’ve just experienced the loss of their spouse, parent, or other family member. It is a difficult time and everything can feel overwhelming. The answer depends on each individual’s situation, what assets they had, and the planning they had in place for those assets.
Not everything needs to be done immediately. I tell my clients to take their time to grieve and avoid making big decisions…
Continue Reading My Loved One Passed Away…. What Do I Do Now?
Probate avoidance is one of many considerations in a good estate plan. A revocable living trust is a common way of avoiding probate and is the best option for many (but not all) clients. However, a revocable trust will only avoid probate for the assets held by the trust, or payable to the trust because of a Settlor’s death. Consequently, it is imperative that a revocable trust is properly funded. Creating the trust is step one. The second and…
Continue Reading Fund That Trust
We have just learned that the CDC will extend the Moratorium another 30 days through the end of July. It has been reported that this is the last extension of the moratorium that will be granted by the CDC.
There is now the possibility that the U.S. Supreme Court could rule on the lawsuit brought against the CDC for overreaching with the CDC moratorium. If the Supreme Court were to rule against the CDC, this would curtail future governmental…
Continue Reading CDC Extends Eviction Moratorium Another Month