Mar
21
The greatest challenge I face in my estate planning practice is motivating clients to follow through with an estate plan. I have seen firsthand the financial and emotional toll on families when the proper planning is not done. Yet as much as I try to educate clients and potential clients about how proper estate planning… Continue reading »
Oct
25
In our last newsletter, I promised to address the many costs of divorce, and started with the most obvious: legal fees. Dissipation of assets is another cost of divorce, whether contested or not. There are many assets that comprise the marital estate, but monetary assets pale in value to the truly irreplaceable assets of marriage:… Continue reading »
Aug
20
You may be aware that the federal estate tax, which was repealed for 2010, resumes in 2011 on estates with assets exceeding $1 million dollars. The Massachusetts estate tax remains in effect and also taxes estate assets over $1 million. In addition to worrying about estate taxes, the law also requires you to pay a… Continue reading »
May
12
The laws in Massachusetts affecting the probate of Wills, dying without a Will (intestate), and the administration of estates have undergone a complete transformation. Effective on July 1, 2011, the Massachusetts Probate Code (the “Code”) repeals the majority of the existing chapters and statutes on probate law in an effort to simplify, streamline and clarify… Continue reading »
May
06
With my oldest daughter now 18 and preparing to go off to college this fall, I suddenly realized that, difficult though it may be for me to comprehend, legally she is an adult. In the Commonwealth of Massachusetts, once a person attains the age of 18, he or she is considered an adult. M.G.L. ch.… Continue reading »
Sep
15
Do you need a legal will? Yes! A will allows you to determine who will receive your assets at your death and when they will receive it. For example, your will can give assets directly to specified recipients or direct your assets to a trust until the beneficiaries of that trust reach a specified age.… Continue reading »
Sep
15
Most real estate investors would agree that among their major concerns when purchasing real estate are limiting personal liability and not having their personal assets subject to creditor claims. To address these concerns, limited liability companies (“LLC”) are growing in popularity as real estate holding entities. Unlike a general partnership, under which all partners may… Continue reading »
Proactive Consultation and Advice
Konowitz & Greenberg, P.C. is not your average law firm. Our unique approach to law both protects individual and corporate clients in the event of law disputes, as well as provides proactive consultation and advice to clients as they plan for success in their business and personal lives.
