More and more Americans are faced with the prospect of outliving their resources and rely on Medicaid to bridge the gap between expensive long-term health care and dwindling personal assets. Eligibility for Medicaid assistance, however, requires that an applicant's...
PLDO Law Blog
Trust & Estate Law
Trust Beneficiary Lacks Standing to Sue for Breach of Contract Calling for Trust to be Funded
On April 20, 2017, the Supreme Court issued a decision in Glassie v. Doucette, No. 2014-108-Appeal (R.I. 2017), holding that a Trust beneficiary lacked standing to sue as a third party intended beneficiary of a contract which called for the creation and funding of the...
Proposed 2704 Regulations May Have Substantial Impact on Estate Planning
Proposed 2704 Regulations, as they are now drafted, would make vast and substantial changes to the valuation of interests in many family-controlled entities, such as a Family Limited Partnership (FLP) or Limited Liability Company (LLC), for purposes of estate, gift,...
Be Wary of Tax Laws Concerning IRAs
This past June, the IRS issued a Private Letter Ruling (201623001) which impacts surviving spouses in community property states. The decedent and the surviving spouse were married in 2004 and lived in a community property state. They had a son, whom the decedent named...
CONSIDERATIONS FOR NEGOTIATING COMMERCIAL LEASES
While some of the provisions contained in commercial lease agreements may be considered commonplace or “boilerplate” language, there are certain issues that require specific attention, depending upon your position in such transactions as the landlord/lessor or the...
PLANNING FOR THE MORTALITY OF A CLOSELY-HELD BUSINESS
When launching a new business venture, it is likely (and more fun) to focus on strategic planning, growth and implementation. However, it is vital in the early stages to give serious consideration to an exit strategy and business succession plan. Business structures...
PERSPECTIVE – CONTINUING VIABILITY OF SINGLE-MEMBER LLCS IN FLORIDA
The use of Limited Liability Companies (LLCs) is very popular in Florida. Most people assume LLCs offer sufficient protection from claims by judgment creditors against a member’s ownership interest. However, for the past decade, I have expressed concern regarding the...
CANNABIS ADVERTISING IN THE AGE OF REGIONAL COMPETITION
Long gone are the days of a state-sanctioned marijuana program standing in isolation in a sea of neighboring prohibitionist states. Presently, over 35 states have legalized medical marijuana, and more than 15 have legalized recreational cannabis. With increased...
IMPORTANT MA DECISION ON SOFTWARE SALES TAX APPORTIONMENT
The case of Oracle USA, Inc. v. Commissioner of Revenue was recently decided by the Massachusetts Supreme Judicial Court in favor of the taxpayer. The case is important for at least two reasons: First, the Court found that Massachusetts taxpayers have a statutory...
