Trusted Legal Resources

Is Your Trust Safe in a Divorce? The Implications of Jones v. Jones for Estate Planning in Massachusetts

An important recent case in Massachusetts has planning implications for married couples, especially when there is inherited property. The divorce of Jones v. Jones was filed in 2019. Inherited property and gifted property was a significant issue in the divorce. The wife’s mother had set up an irrevocable trust for the benefit of her daughter and had supported the couple financially throughout the marriage. The judge in the case deemed that the trust should be treated as marital property. The wife disagreed on the grounds that the interest in the trust was too speculative to be defined as such. In September 2023, the Massachusetts Appeals Court decided that the trust could be considered marital property. The wife argued that she had not received any distributions from the trust and she would not receive the trust assets in full until her mother’s death. Yet the appeals court found that the existence

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The Corporate Transparency Act – What you Need to Know and What You Need to do

In the last few months, word is slowly spreading about the federal governments new requirements under the Corporate Transparency Act (CTA) that business must disclose information about the beneficial ownership structure of corporations, limited liability companies, limited partnerships, and other entities. Prior to this new law, a corporation or entity could be created and registered to do business without disclosure of the ownership structure. To combat money laundering, the federal government is requiring that this information must be disclosed to the Financial Crimes Enforcement Network. Failure to provide the information can result in significant penalties of $500 per day for up to a total of $10,000. It is estimated that this new law will apply to over thirty-two million entities in 2024. This article will outline what you need to know to start complying with the new law. WHO HAS TO COMPLY WITH THIS REGISTRATION? Every new business entity that

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Residential Real Estate – A 2023 Snapshot

2023 has been a challenging year for residential real estate and everyone is eager to guess, anticipate and predict what 2024 will bring. Without a crystal ball and a magic wand, it is hard to anticipate and change what will happen next year but before we move into the future, it is important to see where we are in December of 2023 and utilize this information to guess what might occur in the new year. Residential interest rates in 2023 have been the focus of everyone’s attention as this is a key factor in evaluating the economy. In December of 2022, the interest rate for a thirty-year residential mortgage averaged about 6.33%. The latest numbers reported that the average interest rate is 7.03%. The good news is that this average is actually lower than interest rates in the proceeding weeks and months. Similarly, fifteen-year fixed mortgage rates which averaged 5.67% in December of 2023

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Cryptocurrency Case Law: What Accountants Need To Know

By Eric P. Rothenberg, Esq. – (Published Article) For many years now, I’ve written articles and spoken on cryptocurrency taxation to lawyers and accountants. The first case, “Kraken I”, was decided August 8, 2022, and the second case, “Kraken II” was just decided on June 30, 2023. While Kraken II is really all about each side (the IRS and Kraken) arguing what information must be provided to the IRS to comply with the summons, it also offers keen insight into the thinking behind IRS decisions and regulations. You may read the entire published article here (Published Article)

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Attorney Christopher J. Catrambone, Esq., LL.M. Joins Estate Planning Practice at Orsi Arone Rothenberg Turner, LLP

“We are thrilled to welcome Christoper to the firm and look forward to the exciting contribution he will make to our practice.” – Rob Arone   Attorney Christopher J. Catrambone is an experienced attorney specializing in estate planning and estate and trust administration. Part of his practice focuses on counseling fiduciaries in the administration and settlement of estates and trusts, including probate administration, asset consolidation and distribution, trust funding, preparation of estate tax returns, and post-mortem estate planning strategies. Chris understands the complexities and nuances of estate administration. He takes great care to ensure that clients are engaged throughout the administration process and begins the relationship by providing a broad chronology of the timeline, actions and obligations of the fiduciaries, followed by a straightforward step-by-step explanation of the actions through settlement. Chris takes a personal approach to his work to help ensure that clients feel comfortable and confident every step

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