When preparing to send your child off to college, there are many things parents need to consider. One item that is likely not on the to-do list is having an estate plan for your college student. Typically, young adults heading off to college are 18 years old and...
PLDO Law Blog
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End-Of-Year Tax Planning Tips And What You Should Know For 2020
As we approach the end of 2019, taxpayers need to be mindful to position themselves to minimize their state and federal income tax liability, which is due by April 15 of 2020.This is accomplished by accelerating deductions and deferring income. To accelerate...
General Assembly Eliminates “Open and Obvious” As Complete Defense To Personal Injury Claims
In legislation approved by the Governor on July 15, 2019, the General Assembly amended section 9-20-4 of the General Laws (the Comparative Negligence statute) such that the open and obvious defense to personal injury claims can no longer act as a complete bar to...
The Increasing Sweep of Opioid Litigation
States are now one step closer to holding the Sackler family individually liable for the role they and their pharmaceutical corporation, Purdue Pharma, played in creating and facilitating the nation’s opioid epidemic. In a decision issued on October 8, 2019,...
WORKING CAPITAL IN ASSET DEALS
In an asset sale, the buyer buys a business’ assets in exchange for the purchase price. Then the buyer gets to operate that business, simple, right? In an asset transaction, the transfer of the “business” is often not as simple as signing a document transferring title...
THE TREES CAN STAY (FOR NOW) – A LESSON ON WRIT OF MANDAMUS
In a recently published opinion, the Rhode Island Supreme Court addressed when it is and is not appropriate for the court to grant the issuance of a writ of mandamus. A writ of mandamus is used to compel the performance of an act by a public officer. In the case...
DIRECTED TRUSTS PROVIDE FLEXIBILITY FOR THE CLOSELY-HELD BUSINESS OWNER
In July 2021, Florida adopted the new Florida Uniform Directed Trust Act (“FUDTA”). Modern directed trusts are one of the best vehicles to provide intergenerational wealth preservation and flexibility. Historically, all the functions of a trustee have been handled by...
NUTS & BOLTS OF A ROLL-UP STRATEGY IN BUSINESS ACQUISITIONS
In a roll-up strategy, the buyer—usually a private equity fund—identifies a highly fragmented industry, which is a situation where multiple companies compete, and there is no single or small group of companies that dominates that specific industry. Subsequently, the...
THE SAFE BANKING ACT: WILL 2022 OPEN THE DOOR FOR CANNABIS BUSINESSES TO ACCESS COMMERCIAL BANKING?
Lawful cannabis businesses in the United States have historically and predominately relied on private funding to establish and prop up their operations until they can sustain themselves as revenue-driven enterprises. This is because cannabis remains illegal under...