The Patient Protection and Affordable Care Act (the “Affordable Care Act”) was enacted by Congress and signed by President Obama on March 23, 2010. The Affordable Care Act is a 2,409 page statute regulating virtually every…more
No matter how much time is invested in designing an estate plan, one’s efforts will be for naught if his or her family can’t find essential documents in case of death or incapacitation. This article offers several tips for…more
Too often, people lend money to family members with little planning and regard for potential unintended consequences. But a “family bank” can enhance the benefits of intrafamily loans, while minimizing the risks. A family bank…more
One health care arrangement that has been soaring in popularity in recent years has been the pairing of a high-deductible health plan (HDHP) with a Health Savings Account (HSA). The good news is that not only is an HSA a viable…more
While high estate tax exemption amounts combined with portability of exemptions between spouses has reduced the effectiveness of credit shelter trusts in some cases, they continue to offer significant benefits, particularly for…more
In This Issue:
- Boosting your estate planning power: How to “supercharge” a credit shelter trust
- ABCs of HSAs: Learn how an HSA can benefit your estate plan
- A family bank professionalizes intrafamily…more
RHODE ISLAND BUSINESSES:ARE YOU TOO CONTROLLING?
Your employees, but not your independent contractors, may think so.
A Rhode Island Supreme Court decision this term serves as an important reminder for businesses…more
In a case of first impression that has important implications for lenders in Rhode Island, the Rhode Island Supreme Court held this term that a usury savings clause in a commercial loan document does not validate an otherwise…more
Before the next big winter storm packs a punch, if you are a landlord or business owner in Rhode Island, make sure you understand your obligation to remove snow accumulation and treat surface areas on your premises…more
TRIAL COURTS MAY NOT CIRCUMVENT SUPREME COURT’S EXCLUSIVE JURISDICTION TO ENLARGE TIME FOR APPEAL.
In an order this term, the Rhode Island Supreme Court held that the Family Court exceeded its authority when it vacated…more
Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an executor’s many…more
A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable planning tool. But it’s susceptible to abuse by scam artists, dishonest caretakers or…more
It’s no secret that the cost of a college education continues to soar. But this article offers three options to help one’s grandchildren deal with this burden while saving gift and estate taxes: direct tuition payments to the…more
Irrespective of the size of a company, whether for-profit or non-profit, being able to respond to crisis situations quickly and effectively is important. Indeed, the welfare of an organization’s employees and protection of its…more
The beneficiary defective inheritor’s trust (BDIT) is a powerful estate planning tool that allows enjoyment of the benefits of a traditional trust without giving up control over the property. BDITs are particularly effective for…more
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