Fall 2013: Condominium Buyers Need to Be Cognizant of Condominium Phasing Rights

For the past six years, following the burst real estate bubble, residential condominium sales remained slow. Recently, however, condominium sales have begun to recover in certain markets, including Boston. Along with this recovery will come not only new project submissions but also construction of additional phases of already existing condominium projects. Condominium projects are often (more…)

Fall 2013: Amending an Irrevocable Trust?

Irrevocable trusts are often used as a tool to remove assets from the a taxable estate, and preserve tax benefits for the trust beneficiaries. Although the grantor of an irrevocable trust may retain some ability to remove or replace trustees or amend administrative provisions of the trust, there is generally no ability to modify the (more…)

Spring 2012: Enforceability of Non-Compete Denied Due to Changed Circumstances

In this ever increasing competitive business marketplace, in order to protect intellectual property, customer relationships and good will, more and more employers are requiring their employees to enter into non-competition, non-solicitation and non-disclosure agreements. In most instances, these standard agreements are signed at the time of hire, placed in the employee’s personnel file and remain (more…)

Spring 2012: The Importance of the Beneficiary Form

Once you have signed your estate planning documents, one more critical task is at hand – properly completing the beneficiary forms on your accounts and assets such as retirement accounts and life insurance policies. All too often, significant attention is devoted to estate planning documents and scant attention to the beneficiary designation. As a general (more…)

Spring 2012: More on Retirement Account Beneficiaries

Most people are aware of the tax rule that requires you to begin taking distributions from your IRAs by April 1st of the year following the year they turn 70 ½. These rules generally require you to withdraw your IRAs over your life expectancy or the joint life expectancy of you and your spouse. If (more…)

Spring 2012: Gift Planning Opportunities

The Tax Relief, Unemployment Insurance Authorization and Job Creation Act of 2010 (the “2010 Tax Act”) provides unprecedented gifting opportunities for 2012 for the transfer of family wealth. The 2010 Tax Act increased the lifetime gift tax exemption to $5 million, indexed for inflation. In fact, the IRS recently announced that the 2012 gift tax (more…)