There are specific estate planning strategies that, on the surface, may sound appealing. This includes owning property jointly with a child or other family member. However, these techniques can result in unwelcome outcomes that outweigh potential benefits.
To be clear, owning an asset with your child as “joint tenants with right of survivorship” offers advantages.…
Your will is meant to ensure that your final wishes are honored. However, it can sometimes be contested, potentially leading to lengthy legal battles and financial disputes among your heirs. Understanding when and why a will might be contested — and how to safeguard your intentions — can help prevent unnecessary complications for your loved…
Estate planning is not a task that often comes to mind for those who are newlyweds or those parents who are in the midst of raising young children. Either you’re still enjoying the post-wedding excitement and promise of a new phase with a partner, or you’re living day-to-day with an infant or toddler who demands…
Earth Day provides an opportunity to reflect on environmental and sustainability topics, including recently proposed legislation in the Rhode Island General Assembly including efforts to enshrine a right to a clean and healthy environment in the state constitution, reform of the Coastal Resources Management Council, and to expand renewable energy development on brownfields or other…
If you possess paintings, sculptures or other art pieces, they may represent a significant portion of your estate. Thus, these assets must be properly accounted for in your estate plan.
In your planning, you’ll want to preserve the value of your collection and avoid unnecessary taxes, but also be sure to spell out how your…
On February 27, 2025, the Rhode Island General Assembly announced a 12-bill package, aimed at addressing housing issues faced by the state of Rhode Island. This marks the fifth package of housing bills introduced since 2021 and builds upon the slate of housing-related bills passed in August 2024, pursuant to a package of legislation introduced…
Buy-sell agreements are essential estate and succession planning tools for many family businesses and other closely held companies. These agreements, among other things, ensure that the business stays within the family or other ownership group.
Typically, this is accomplished by providing that if an owner dies or leaves the business, the company or the remaining…
Many federal contractors and grant recipients are seeking guidance regarding Diversity, Equity and Inclusion (“DEI”) in the wake of the Fourth Circuit Court of Appeals upholding President Trump’s Executive Orders on DEI (“DEI Executive Orders”) while the case proceeds on appeal. The Fourth Circuit Court of Appeals stayed a District Court preliminary injunction which would…
Here’s a quick estate planning tip: one of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax exclusion. For 2025, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per beneficiary if you split the gifts with…
In recent years, more and more businesses and individuals are using dash cameras in their vehicles. These cameras generally point forward through the windshield of a vehicle and record footage which can be saved and accessed later in the event of an accident. Such footage often becomes crucial evidence in litigation arising from motor vehicle…