Pets are as loved as any other member of a family these days. Although our pets can’t inherit money, you can protect them if they outlive you. There are two main considerations when planning for your pets in the event of your death or incapacity: placement and...
PLDO Law Blog
Estate & Trust Law |
Three “Must Have” Estate Plan Documents Every Parent Needs For Their College Student
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...
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...
Changes In The Wind for Retirement Benefits – Possible
Last spring the United States House of Representatives by an over whelming majority passed the most significant changes to the IRA/401(k) laws since their original passage in the mid 1970’s. If signed into law these changes will: allow part-time workers who work less...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
PAY EQUITY IN RHODE ISLAND: EMPLOYERS, ARE YOU IN COMPLIANCE?
Rhode Island’s Pay Equity Act was expanded in 2023, creating additional obligations for employers with employees located in, or working from, the state. Once only prohibiting differences in wages based on gender, Rhode Island’s Pay Equity Act prohibits differences in...
ESTATE PLANNING FOR THE BUSINESS. HOW TO PREPARE FOR THE DEATH OF A BUSINESS OWNER
In the final season of “Succession,” Logan Roy’s death creates a power vacuum within Waystar Royco, the fictional media conglomerate that Logan founded and acted as CEO of until his death. This raises a difficult question that many, if not all, business owners face:...