Blog

Middle Class Also Feels Pinch of Rhode Island and Massachusetts Estate Tax

Estate Planning

Many Massachusetts and Rhode Island residents are surprised to learn that, despite being of relatively modest means, their estate will likely be subject to a Massachusetts or Rhode Island estate tax.  The Massachusetts estate tax kicks in at $1 million, while the Rhode Island estate tax threshold is just under $900,000.  While that may sound […]

Middle Class Also Feels Pinch of Rhode Island and Massachusetts Estate Tax Read More »

Your “Independent Contractor” May Be An Employee in Massachusetts or RI

Small Business

Massachusetts and Rhode Island small businesses use so-called “independent contractors” for two main reasons – a) to avoid having to pay payroll tax, workers compensation, and other benefits for that person; and 2) to avoid legal liability for that person’s negligence.  Unfortunately, too many Rhode Island and Massachusetts small businesses mistakenly think that calling someone

Your “Independent Contractor” May Be An Employee in Massachusetts or RI Read More »

Rhode Island and Massachusetts Estate Planning Not Just for Wealthy

Estate Planning

As a Massachusetts and Rhode Island estate planning attorney, a common misperception I encounter is that someone needs to be wealthy to need an “estate plan.”  That is a terrible misunderstanding.  The term “estate plan” refers, in part, to those documents such as wills, health care proxies, powers of attorney, and trusts which protect us,

Rhode Island and Massachusetts Estate Planning Not Just for Wealthy Read More »

Proper Massachusetts Estate Planning Should Include Power of Attorney

Estate Planning

          As a Massachusetts estate planning attorney, I have learned that most people equate estate planning with wills only.  We tend to focus primarily on how our assets will be distributed and on financially providing for our survivors.  These are obviously essential considerations in estate planning.  Equally important, however, is how our affairs will be

Proper Massachusetts Estate Planning Should Include Power of Attorney Read More »

Reducing or Avoiding Massachusetts Estate Tax Through Irrevocable Life Insurance Trust

Estate Planning

If you are likely to fall into the Massachusetts estate tax bracket, one tax savings option to strongly consider is an irrevocable life insurance trust (“ILIT”).  An ILIT is a trust which owns your life insurance policy instead of you owning it yourself.  The beneficiaries remain the same.  When used properly, an ILIT can remove

Reducing or Avoiding Massachusetts Estate Tax Through Irrevocable Life Insurance Trust Read More »

Operating Agreements Critical for Massachusetts and RI Small Businesses

Small Business

If you own a small business in Massachusetts or Rhode Island with one or more co-owners or partners, you should have an operating agreement drafted by a Massachusetts or Rhode Island small business attorney.  Among other things, an operating agreement spells out each partner’s ownership interest, rights, and duties, as well as procedures for resolving

Operating Agreements Critical for Massachusetts and RI Small Businesses Read More »