RHODE ISLAND LEGAL PRACTICE AREAS:
Real Estate | Probate | Business | Corporate | Estate Planning
REAL ESTATE LAW: Whether you are buying a new home, summer house or raw land for future development, or selling your home, we can guide you through the real estate transaction process. Whether you are a buyer or seller, landlord or tenant, lender or builder, you will value our deep experience and know-how in complex issues on significant projects, including residential subdivisions and condominiums. We will be by your side from writing the title insurance to closing the transaction. We can also assist you with Real Estate Lease Agreements, Joint Property Ownership, and Partition Actions.
PROBATE ESTATE LAW: Whether it is the administration of a large or small Rhode Island probate estate or Trust we are here to guide you through the legal process. We can assist you with probate and trust administration in Washington, Kent, Providence, Bristol and Newport County. Our RI probate legal services include: presenting the decedent's Rhode Island or out of state Last Will & Testament for probate, appearing in probate court and preparing all probate pleadings, assisting the Rhode Island executor (estate administrator) with collecting, valuing, selling, and distributing estate assets and continuing businesses. We can also handle, on your behalf, the Rhode Island estate tax lien (inheritance lien), settling creditor claims, and transferring real estate to beneficiaries. Allow us to assist you with the administration of a Rhode Island probate estate.
BUSINESS LAW: We represents individuals and entrepreneurs in many different types of Rhode Island businesses, including new and established companies. We can assist you in the selection & formation of your Rhode Island business entity (LLC, Corporation, Partnership), the purchase & sale of business assets, succession planning, business disputes, buy-sell agreements, and contract and lease negotiations and drafting. In addition, we can advise both purchasers and sellers on legal strategies to address issues raised during transactions (asset purchase agreements, stock purchase agreements, and security agreements) and the due diligence process.
ESTATE PLANNING: We draft, on our client's behalf, customized estate planning documents (Last Will & Testament, Revocable Trust, Health Care Surrogate, Durable Power of Attorney, Living Will, Charitable Trusts, Special Needs Trust, etc.) to meet your personal needs and specific goals. We enable clients to protect current assets, minimize exposure to estate tax liability and clarify their wishes regarding the exact distribution of their assets.
2018 TAX LAW CHANGES IMPACTING CHARITABLE GIVING:
When the new tax law was signed by President Trump most experts viewed it as detrimental to future charitable donations and deductions. The significantly increased standard deduction meant fewer taxpayers needed to file an itemized income tax return and non-itemizers would not benefit from a charitable tax deduction. While the value of a charitable deduction may have decreased in value for individuals that reside in states without a state income tax it has increased in value for individuals that reside in states with a state income tax.
Under the new tax law, the deduction for state income taxes is limited to $10,000. While a charitable gift may not result in any reduction in state income taxes it can provide a deduction for federal income tax purposes. Utilizing a charitable gift deduction, after maximizing the amount of your state income tax deduction, can decrease the amount of federal income tax due and owing for those who do not file an itemized income tax return.
In addition, under the new tax law, the donation of appreciated stocks, bonds or other assets still avoided capital gains taxes regardless of whether or not the donor itemizes. Individuals age 70 ½ or older also retained the ability to make a charitable donate directly from their IRA.
RHODE ISLAND LAW