While the real estate market is experiencing significant upheaval at the moment with decreased inventory and more tentative buyers, we believe there will be a reasonably quick return to status quo in the real estate market. Potentially, there will be an increase in...
PLDO Law Blog
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Trust Beneficiary Forfeits Beneficial Interest After Violating No-Contest Clause
In July, the Massachusetts Appeal Court in Capobianco v. Dischino Capobianco v. Dischino, 19-P-197 (Mass. App. Ct. Jul. 9, 2020) ruled that a beneficiary forfeited his beneficial interest in a Trust established by his parents when he filed an action seeking to remove...
Terminating Your Interest in a Charitable Trust
A charitable remainder trust (“CRT”) is typically established as an irrevocable trust with an income stream reserved for the person who creates the trust (“the grantor”). When the income stream terminates, the remaining interest in the trust is donated to a charity. A...
Why LLC Operating Agreements Protect You and Your Business
Forming a limited liability company, or “LLC,” does not require an attorney. Articles of organization are filed with the Secretary of State and the LLC is then created; no attorney necessary. However, while registration with the Secretary of State is all that is...
HOW A HOLOGRAPHIC WILL CAN LEAD TO LITIGATION
In season four of Succession, Logan Roy, the patriarch of the family and acting CEO of Waystar Royco, suddenly passes away amid a corporate merger. The majority ownership of the company was divided amongst the Roy Family, in what appears to be a series of highly...
I’VE WATCHED SUCCESSION – WHY ON EARTH WOULD I GIVE MY KIDS THAT LEVEL OF POWER?
Step into the “way back” machine when a younger media mogul, Logan Roy, was contemplating the succession of his empire and grooming his children by giving them management positions in the company. This is a common scenario in business, as well as estate planning....
HOW TO LEGALLY CHANGE OR REVOKE A WILL IN RHODE ISLAND
A last will and testament is a legal document that states your final wishes for your assets and estate. Commonly, the will you originally create will need to be amended or modified as life circumstances change. For example, births, marriages, divorces, and deaths...
WHAT IS A SUBCHAPTER V BANKRUPTCY PROCEEDING? WHY MORE BUSINESSES SHOULD CONSIDER FILING
On August 23, 2019, the Small Business Reorganization Act of 2019 (“SBRA”) was signed into law and became effective on February 19, 2020, which added Subchapter V to Chapter 11 of the United States Bankruptcy Code. Subchapter V is a relatively new and underused avenue...
ARTIFICIAL INTELLIGENCE IN THE HIRING PROCESS: EMPLOYERS BEWARE
The rapid rise of Artificial Intelligence (AI) in the workplace is outpacing our ability to keep up with it. For example, companies are struggling whether and how to allow employees to use ChatGPT at work given the numerous privacy and security risks posed by this new...