Tuesday, November 25, 2014
Jennings, Strouss & Salmon Expands D.C. Office with the Addition of Richard S. Harper
WASHINGTON, DC. (November 25, 2014) – Jennings, Strouss & Salmon, a leading
Phoenix-based law firm, is pleased to announce that Richard S. Harper has
joined the firm’s D.C. office as an associate in the energy department.
“Rich has a proven track record
for excellence in advocacy,” stated Deb Roby, Chair of Jennings, Strouss &
Salmon’s Energy Practice Group. “I am proud of the talent and leadership that
he brings to Jennings, Strouss & Salmon, and I am confident that he will
serve our clients with excellence and distinction.”
Harper focuses his
practice in the area of Energy law. He earned a J.D.
from George Washington University Law School in 2010 and a B.A. in English from
Brigham Young University. Harper is a former Chief Speech Writer for the
Assistant Secretary for Nuclear Energy while serving as Public Affairs
Specialist for the U.S. Department of Energy. Prior to joining Jennings, Strouss & Salmon, he was
an attorney in the General Counsel’s Office, New Reactor Division of the U.S.
Nuclear Regulatory Commission, representing the NRC staff in the licensing of
new nuclear power plants in the United States.
“I was immediately drawn to the culture of Jennings, Strouss
& Salmon,” stated Harper. “The attorneys I have the pleasure of working
with are not only top notch legal practitioners, but genuinely good people as
well. I look forward to utilizing my experience in nuclear energy regulation,
and assisting the firm and clients in other energy regulatory areas.”
About
Jennings, Strouss & Salmon
Jennings, Strouss &
Salmon, PLC, has been providing legal counsel for over 70 years through its
offices in Phoenix,
Peoria, and Yuma, Arizona; and Washington, D.C.
The firm's primary areas of practice include agribusiness; bankruptcy,
reorganization and creditors’ rights; construction; corporate and securities;
employee benefits and pensions; energy; family law and domestic relations;
health care; intellectual property; labor and employment; legal ethics;
litigation; professional liability defense; real estate; surety and fidelity;
tax; and trust and estates. For additional information please visit www.jsslaw.com and follow us on LinkedIn, Facebook and Twitter.
The firm’s
affiliate, B3 Strategies, assists clients with lobbying and public policy
strategy at the local, state, and federal levels. For more information please
visit www.b3strategies.com.
~JSS~
Monday, November 24, 2014
FERC Proposes Policy on Cost Recovery for Modernization of Natural Gas Facilities
Following its open meeting on November 20, 2014, the Federal Energy Regulatory Commission (“FERC”) is seeking comments on a proposed new policy statement (PL15-1-000) that will outline the standards interstate natural gas pipelines must satisfy in order to recover the costs of modernizing their facilities and infrastructure. Once approved, this policy would allow pipelines to recover, through a simplified mechanism such as a surcharge or tracker, capital expenditures made to replace old and inefficient compressors and leak-prone pipes and perform other infrastructure improvements and upgrades to enhance reliability, safety, and regulatory compliance. FERC issued this policy proposal in response to recent federal and state regulations concerning pipeline safety, reliability, and environmental concerns.
Applying the guidelines spelled out in its order approving settlement in Columbia Gas Transmission, LLC,142 FERC ¶ 61,062 (2013), FERC proposed five standards that a pipeline would need to satisfy in its proposal for a cost recovery tracker or surcharge:
- The pipeline’s base rates to which any surcharges would be added must have been recently found just and reasonable, either through a general Natural Gas Act Section 4 rate proceeding or a collaborative effort between the pipeline and its customers (i.e. a settlement). FERC seeks comments addressing other acceptable approaches to demonstrating that existing base rates are just and reasonable.
- The costs eligible for recovery are demonstrated to be one-time capital costs incurred to modify facilities to comply with federal or state safety and environmental regulations, such as those being considered by the Pipeline and Hazardous Materials Safety Administration and by the Environmental Protection Agency, as well as other capital costs shown to be necessary for the safe or efficient operation of the pipeline. The pipeline must demonstrate that the recovered costs are not normal capital maintenance expenditures and are necessary for compliance. As in Columbia Gas, the pipeline would have to specifically identify projects eligible for recovery, the facilities to be upgraded or installed by those projects, and an upper limit on the capital costs related to each project to be included in the surcharge. FERC seeks comments on whether costs of modifications to compressors for waste heat recovery, and costs associated with pipeline expansions should be covered.
- A pipeline must design its proposed surcharge or tracker to protect its captive customers from cost shifts should the pipeline lose shippers or must offer discounts to retain customer business. One way suggested to meet this goal would be for the pipeline to agree to set a floor on the billing determinants that it uses to design the surcharge. FERC seeks comments on similar types of protections that could be imposed.
- A pipeline must permit a periodic review of its approved surcharge or tracker to insure that such charge, as well as the base rates, remains just and reasonable. FERC is open to reasonable methods for accomplishing this goal.
- A pipeline must work collaboratively with its shippers to seek support for the pipeline’s recovery proposal. However, FERC did state that it may approve filings that are found to be just and reasonable but do not necessarily have 100% shipper support.
In addition to requesting comments on the five proposed standards, FERC seeks input on the following related issues:
- Whether pipelines should be allowed to use accelerated amortization methodologies to recover modernization costs; and
- Whether FERC should make any changes to the current reservation charge crediting policy to adjust for disruption of primary service resulting from modernization replacements and upgrades.
Initial comments are due by December 26, 2014. Reply comments are due by January 15, 2015. If you have questions or would like more information on the issues discussed in this article, please feel free to contact us.
Wednesday, November 19, 2014
Gary Newell Featured in District Energy Magazine
Jennings, Strouss & Salmon energy attorney, Gary J. Newell, is featured in the latest edition of District Energy magazine. Read the full article: Recent PURPA Enforcement Actions: Do they signal a policy shift at FERC?
Watch this video to hear Gary Newell discuss additional information about the Public Utility Regulatory Policies Act of 1978 (PURPA).
Thursday, November 6, 2014
Jennings Strouss Ranked in 2015 “Best Law Firms” List
PHOENIX, Ariz. (November 4, 2014) – Jennings,Strouss & Salmon, PLC, a leading Phoenix-based law firm, has been ranked in the 2015 "Best Law Firms" list by U.S. News & World Report and Best Lawyers®. The firm received a Tier 1 national ranking for Energy Law, along with Phoenix and Washington, DC metropolitan rankings for 33 additional practice areas.
Firms included in the 2015 "Best Law Firms” list are recognized for professional excellence with persistently impressive ratings from clients and peers. Achieving a ranking signals a unique combination of quality law practice and breadth of legal expertise.
The 2015 Edition of "Best Law Firms” includes rankings in 74 national practice areas and 120 metropolitan-based practice areas.
The U.S. News – Best Lawyers “Best Law Firms” rankings, for the fifth consecutive year, are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in their field, and review of additional information provided by law firms as part of the formal submission process. Clients and peers were asked to evaluate firms based on the following criteria: responsiveness, understanding of a business and its needs, cost-effectiveness, integrity and civility, as well as whether they would refer a matter to the firm and/or consider the firm a worthy competitor.
This year, in addition to the Tier 1 national ranking for Energy Law, Jennings Strouss was included in the metropolitan rankings for the following areas:METROPOLITAN TIER 1
Phoenix
Administrative / Regulatory Law
Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
Commercial Litigation
Corporate Law
Energy Law
International Trade and Finance Law
Litigation - Bankruptcy
Litigation - Construction
Litigation - Real Estate
Mediation
Medical Malpractice Law - Defendants
Personal Injury Litigation - Defendants
Real Estate Law
Trusts & Estates Law
Washington DC
Energy Law
METROPOLITAN TIER 2
Phoenix
Arbitration
Construction Law
Corporate Governance Law
Employment Law - Management
Health Care Law
International Arbitration - Commercial
Labor Law - Management
Legal Malpractice Law - Defendants
Litigation - Banking & Finance
Mergers & Acquisitions Law
Professional Malpractice Law - Defendants
Securities / Capital Markets Law
Tax Law
METROPOLITAN TIER 3
Phoenix
Banking and Finance Law
Eminent Domain and Condemnation Law
Ethics and Professional Responsibility Law
Litigation - Labor & Employment
Public Finance Law
About “Best Law Firms”
The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in their field, and review of additional information provided by law firms as part of the formal submission process. To be eligible for a ranking, a law firm must have at least one lawyer listed in 20th Edition of The Best Lawyers in America© list for that particular location and specialty.
The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in their field, and review of additional information provided by law firms as part of the formal submission process. To be eligible for a ranking, a law firm must have at least one lawyer listed in 20th Edition of The Best Lawyers in America© list for that particular location and specialty.
About U.S. News & World Report
U.S. News & World Report is a multimedia publisher of news, consumer advice, rankings and analysis. Focusing on Education, Health, Personal Finance, Travel, Cars and News & Opinion, www.usnews.com has earned a reputation as the leading provider of consumer advice and analysis that helps its readers make informed life decisions. U.S. News & World Report's signature franchise includes its "Best" series of consumer advice guides and publications that include rankings of colleges, hospitals, mutual funds, cars and more.
U.S. News & World Report is a multimedia publisher of news, consumer advice, rankings and analysis. Focusing on Education, Health, Personal Finance, Travel, Cars and News & Opinion, www.usnews.com has earned a reputation as the leading provider of consumer advice and analysis that helps its readers make informed life decisions. U.S. News & World Report's signature franchise includes its "Best" series of consumer advice guides and publications that include rankings of colleges, hospitals, mutual funds, cars and more.
About Jennings, Strouss & Salmon, PLC
Jennings, Strouss & Salmon, PLC, has been providing legal counsel for over 70 years through its offices in Phoenix, Peoria, and Yuma, Arizona; and Washington, D.C. The firm's primary areas of practice include agribusiness; bankruptcy, reorganization and creditors’ rights; construction; corporate and securities; employee benefits and pensions; energy; family law and domestic relations; health care; intellectual property; labor and employment; legal ethics; litigation; professional liability defense; real estate; surety and fidelity; tax; and trust and estates. For additional information please visit www.jsslaw.com and follow us on LinkedIn, Facebook and Twitter.
The firm’s affiliate, B3 Strategies, assists clients with lobbying and public policy strategy at the local, state, and federal levels. For more information please visit www.b3strategies.com. ~JSS~
Contact: Dawn O. Anderson | danderson@jsslaw.com| 602.495.2806
Wednesday, November 5, 2014
The Beneficiary Deed – Is It Right for You?
It is common knowledge that the purpose
of a Will is to ensure assets are distributed according to a person’s wishes
upon his or her death. In addition, many people will go a step further, perhaps
upon the advice of their attorney or accountant, and have a trust prepared to
help avoid the sometimes lengthy legal process of probate, as well as potentially
help minimize or avoid federal estate tax; however, in Arizona, there exists another
effective, yet lesser known, estate planning tool called a “beneficiary
deed.”
A beneficiary deed is a deed to real
property that specifies who should receive ownership of the real estate upon
the death of the current property owner. The designated beneficiary can be
either an individual or it can identify multiple beneficiaries. A beneficiary
deed can also designate a successor beneficiary. For instance, you may provide
that your home goes to your son, but if he predeceases you, the property goes
to your brother. In order to be effective, the beneficiary deed must be
executed in accordance with the law and recorded in the office of the county
recorder of the county in which the property is located prior to the death of
the property owner. Further, the person
designated to receive the property need not sign the document, nor are they
required to receive notice that they have been designated as a beneficiary.
A property owner may also change or
revoke a beneficiary deed, even if it has already been recorded. If there are co-owners of the property, the
beneficiary deed can be revoked by any of the owners who signed the deed
initially. A beneficiary deed will not prevent using the property to secure a
loan, and will not prevent the owner from selling his or her home.
In addition to the above described
flexibility, another advantage of utilizing a beneficiary deed is the fact that
the real estate passes to the individual designated without having to go
through probate, much like it would if a trust were prepared; however, a
beneficiary deed can be generated more quickly and less expensively than
preparing a trust. The beneficiary deed also has advantages over gifting
property to a family member or friend prior to death, as it permits the owner
to maintain control of the property, and avoid gift tax liability. It also allows the recipient to get the
stepped up basis, up to the value of the property, at the time of your
death.
Depending on the individual situation,
there are also potential disadvantages to using a beneficiary deed. For
instance, if the beneficiary to whom an owner intends to leave the property is
a minor, it may be better to have a trust created, allowing the trustee to
oversee and maintain the property until the minor reaches an appropriate age.
Another potential drawback to using a beneficiary deed in lieu of a trust is
that the property remains as part of the estate for purposes of calculating the
value for estate taxes. Although the
foregoing may be a non-issue for those whose estate value does not exceed the
current exemption amount of $5,340,000, for those whose estate exceeds the
current exemption amount, this is something to consider.
The above references are not intended
to be an exhaustive list of the pros and cons of beneficiary deeds. Contact an
estate planning attorney to discuss your individual circumstances before
deciding how best to proceed to determine the best plans to satisfy your individual
estate planning needs.
*Garrett
Olexa is a member of the law firm of Jennings, Strouss & Salmon, PLC. His
practice includes estate planning and estate planning litigation. Mr. Olexa can be contacted at golexa@jsslaw.com or 623.878.2222.
Subscribe to:
Posts (Atom)