Happy Holidays
Happy Holidays from the LMICK Board and Staff. We wish you, our loyal and valued insureds, the most wonderful of holiday seasons. We are so grateful for the trust you place in us to protect your practices. We look forward to continuing our service to you and all the attorneys of the Commonwealth of Kentucky in 2025 and beyond. Please let us know how we can be of assistance to you and your practice.
News & Updates
We intend for this to be an abbreviated LMICK Minute with the focus on sending you our holiday wishes. There are a couple of items, however, that we need to include due to the timeliness of the information or the challenges of the season.
The Corporate Transparency Act – UPDATED
In February and March of 2024, through a note in the LMICK Minute and via the first quarter CLE, respectively, we advised of the requirements of the Federal Beneficial Ownership Information Reporting Rule under the Corporate Transparency Act (“CTA”) (31 U.S.C. § 5336). In September, 2024, we shared a link to an article providing a comprehensive summary of the application of the CTA which imposes federal filing requirements on nearly every business in the country. The article further included a discussion of the bills in Congress that would modify or repeal the CTA and the pending cases challenging the CTA’s constitutionality.
Most recently, on December 3rd, a Texas Federal District Court, finding that Congress acted outside its enumerated powers, preliminarily held that the CTA and its related regulations are unconstitutional. Texas Top Cop Shop, Inc. v. Garland, 2024 U.S. Dist. Lexis 218294 (E.D. Tx. Dec. 3, 2024). The Court went on to issue a nationwide injunction against the reporting requirements required by the CTA. So, what now? The Court stated that “[j]ust as the injunction against enforcement of the CTA should apply nationwide, a stay of the Reporting Rule should apply nationwide.” It stands to reason then that this means that reporting companies currently have no obligation to file and update beneficial ownership reports. Tread lightly, however, as this ruling will almost assuredly be appealed to the 5th Circuit Court of Appeals. If you represent a reporting company, then you will need to help your clients understand whether to halt compliance activities or proceed with the current reporting deadline of January 1, 2025.
Kentucky Law Update Guidance – A Gentle Reminder
Kentucky Law Update (“KLU”) season is over. Along with Yvette Hourigan of KYLAP and Laura Day DelCotto, of DelCotto Law Group PLLC and Chair of the KBA Well-Being Committee, LMICK presented a program on how to ethically and practically “pause” your practice. We were delighted to see so many of you across the state at the KLUs. You asked insightful questions and provided great feedback and comments. A theme you heard from us in the presentation was planning, planning and more planning. As you think about your business preparations for the coming year (call them New Year’s resolutions if you must), please consider making some time in the first quarter of 2025 to start planning for the time when you will need to pause your practice.
If you missed the presentation and want some guidance on the necessary planning, please reach out to Yvette, Laura Day or
Our Home is Your Home – We Hope to See you in 2025
LMICK recently added to its footprint by leasing some contiguous office space that contains a corner conference room. With this added space, LMICK has 3 conference rooms that we are happy to make available to any of our insureds who need accommodations for mediations, meetings, depositions, etc. If you find yourself needing office space in the Hurstbourne Road and Linn Station Road area of Louisville in the coming weeks and months, please give us a call to make those arrangements.
Practice Management
Are you Using AI in your Law Practice? More to Come in 2025!
For months in 2024, LMICK has been talking to you about generative Artificial Intelligence and its uses in the practice of law. Our goal in 2024 was simply to encourage you to read the KBA and ABA ethics opinions on AI and to explore AI to become more familiar with it and what it can do. It has been encouraging to hear from some of you who attended a LMICK presentation on AI tell us that you’ve started to experiment with AI even if you are not yet using it in your practice. For those of you who are still a bit afraid of it, use ChatGPT, Perplexity, or one of the many other free AI platforms, to find the KBA and ABA ethics opinions and ask that the opinions be summarized. You will be amazed at what AI can do in just a few seconds.
Stay tuned for more AI content from LMICK in 2025. We will still be encouraging you to simply try it out but will be providing additional information on more sophisticated uses of AI in your practices. If you have suggestions for what you want and need to learn about AI, please let us know. We’d love to hear from you so that we can tailor our AI content to what might be most useful for you in your practices.
Lawyer Well-Being
We know the holidays are not always joyful and can be a difficult time for many. We don’t all live in a Hallmark holiday movie script with the perfect family, friends and holiday plans. Perhaps you find yourself with stress-filled holiday hustle and bustle or with family drama that is only exacerbated by the holidays. For some, the holidays are a lonely time. Whatever your holiday challenges, don’t forget to give yourself grace and space to deal with the complicated emotions that often arrive with the holiday season.
Know that Help is Always Available
If you are struggling with grief, sadness, anxiety, depression, or another emotion or stressor that is negatively impacting your daily life this holiday season, please reach out for help. All Kentucky lawyers are eligible for four (4) free visits with a mental health professional through the Kentucky Lawyers Assistance Program. For more information about the variety of confidential resources KYLAP offers, please visit www.KYLAP.org.
Upcoming Events
We look forward to seeing you!
Our 2025 engagements calendar is already filling up. We will resume our listing of events and engagements in the January LMICK Minute. We hope to see you out and about in 2025.
We want to hear from you! Have a CLE topic you would like to see? Send suggestions to
Need a CLE Speaker in 2025? We would love to speak to your group this year! You can check out our updated list of available topics and request to schedule, here.