If you have a will, it is customary and very important to include what is known as a residuary clause, leaving any property not otherwise accounted for to a designated beneficiary or beneficiaries. After payment of your debts and taxes, and satisfaction of specific...
Our foundation is deep, so it is not restrictive.
It has allowed us to expand our practice to benefit our clients’ strategic, technological, and business needs.
Year: 2024
How potential franchisees can make the most of “Discovery Day”
If you’re considering becoming a franchisee, you may have the opportunity to participate in a "Discovery Day" with a franchisor. Discovery Days are an opportunity to find out if a franchisor is the right fit for you before you enter into an agreement. To make the most...
Issues which can be addressed in conjunction with your estate plan
In addition to the preparation and execution of a will and/or any associated trusts for the distribution and management of your financial estate after your death, estate planning provides an opportunity to address other concerns. If you are a parent of minor children,...
When is it time to update your estate plan?
Many people have executed a will, trust(s), health care designation documents, and/or powers of attorney, and put them in a “safe place” for when they’re needed. It is best to review these documents periodically for general assessment, and additionally upon the...
Why you may need to create your estate plan with an eye to 2026
Rhode Island is one of a minority of states that has an estate tax. That tax is in addition to the federal estate tax. For 2024, that tax kicks in only if an estate is valued at more $1,774,583, which is considerably lower than the current federal estate tax...
Financing a franchise
The up-front costs to open a franchised business can be as little as $20,000 and as much as many millions of dollars. For many franchisees, this means finding a way to finance their investment. Many financing options exist and prospective franchisees should consult...
What does “dying intestate” mean?
When you die having executed a valid Last Will and Testament, that is called dying “testate.” When you die without having executed a valid will, you are considered to be “intestate.” Major differences are that in a will you can determine who will inherit your...
Common misconceptions about owning a franchise
Owning a franchise can be very rewarding. It also requires a significant financial investment and a substantial personal commitment of time and effort. While most people have some familiarity with franchising, at least as a customer of franchise businesses, there are...
Are you prepared to commit to a franchise? How can you tell?
Owning a franchise can be your ticket to entrepreneurial freedom and financial success. But before jumping headfirst into a franchise agreement, ensure you are truly ready for everything the business entails. Buying a franchise is not a decision to take lightly....
What is Scope Creep?
Scope creep refers to the gradual expansion of a construction project's original goals and objectives. Scope creep can occur during contract negotiation and during the course of the work. In construction, it often manifests as additional work, changes in design, or...