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T&E Litigation Newsletter - 4/26/13
Practice: Probate & Fiduciary Litigation | | In Yeomans v. Stackpole, Docket No. MICV2011-01702-F, 2013 Mass. LEXIS 237 (April 13, 2013), the Middlesex Superior Court addressed the question of whether a law firm could be held vicariously liable for legal malpractice based on the alleged breach of fiduciary duty of one of its lawyers as a trustee. |
Peace on the PILOT Front?
Practice: Medical, Educational and Cultural Institutions | | Part of Boston’s “special sauce” are the many educational, medical and cultural institutions that anchor economic activity and impart vitality. Although charitable institutions make use of municipal services, most are exempt from real estate taxes under Massachusetts law. This creates a conundrum for the City of Boston, which relies more on real estate taxes than other major cities. |
Boston Moves a Step Closer to Building Labeling
Practice: Green Business, Real Estate | | We reported to you last November that Boston’s Office of Environmental and Energy Services was crafting an ordinance that would require reporting of energy efficiency performance for Boston buildings. This so-called Energy Disclosure Ordinance is now before the City Council for approval, with some modifications. |
T&E Litigation Newsletter - 1/16/13
Practice: Probate & Fiduciary Litigation | | In Staten v. O’Neill, Case No. 11-P-23, 2013 Mass. App. Unpub. LEXIS 3 (Jan. 3, 2013), a decision issued pursuant to Rule 1:28, the Appeals Court affirmed the dismissal of claims against a lawyer by his former clients, the successor trustees of a trust he had represented. |
New Tax Provisions: Fiscal Cliff Averted – Sequestration Resumes in Two Months
Practice: Tax | | On January 1, 2013, Congress passed H.R. 8, the American Taxpayer Relief Act of 2012 to avert the immediate tax increases and spending cuts (i.e., the so-called “fiscal cliff”) that were otherwise scheduled to take effect January 1, 2013. Although averting the fiscal cliff, the legislation merely delayed the automatic sequestration of spending cuts until March 1, 2013. |
T&E Litigation Newsletter - 1/3/13
Practice: Probate & Fiduciary Litigation | | In Estate of Young v. United States of America, Civil Action No. 11-11829-RWZ, 2012 U.S. Dist. LEXIS 178232 (D. Mass. Dec. 17, 2012), the U.S. District Court for the District of Massachusetts entered summary judgment for the United States on the plaintiff Estate’s claim for a refund of a tax penalty. |
T&E Litigation Newsletter - 12/19/12
Practice: Probate & Fiduciary Litigation | | In Fortier v. Sullivan, Case No. 12-P-231, 2012 Mass. App. Unpub. LEXIS 1258 (Dec. 11, 2012), a decision issued pursuant to Rule 1:28, a beneficiary of a will sued the testator’s estate planning attorney for professional negligence and breach of contract. |
T&E Litigation Newsletter - 10/9/12
Practice: Probate & Fiduciary Litigation | | In Porst v. Deutsche Bank National Trust Company, No. 11-04137, 2012 Bankr. LEXIS 4680 (Bankr. D. Mass. Oct. 4, 2012), the U.S. Bankruptcy Court for the District of Massachusetts discussed what constitutes valid revocation of a revocable trust and whether the trustee of a revocable trust owes any duties to contingent remainder beneficiaries. |
T&E Litigation Newsletter - 10/3/12
Practice: Probate & Fiduciary Litigation | | In Sacchetti v. Sacchetti, Case No. 10-P-2200, 2012 Mass. App. Unpub. LEXIS 1000 (Sept. 24, 2012), a decision issued pursuant to Rule 1:28, the Appeals Court addressed cross-appeals from a judgment following the eleven-day trial of a dispute between father and son concerning the father’s assets. |
The Time is Now: Making Tax-Free Gifts in 2012
Practice: Private Client & Trust | | Gift and generation-skipping transfer tax exemption amounts of $5,120,000 and tax rates of 35% create a unique opportunity to transfer assets to children, grandchildren and other family members with little or no transfer taxes. In 2013, if Congress does not extend or make these exemption amounts and tax rates permanent, the exemptions from gift and GST tax will automatically decrease and the tax rates will rise substantially. |
T&E Litigation Newsletter - 8/27/12
Practice: Probate & Fiduciary Litigation | | In Bedard v. Corliss, Case Nos. 11-P-2118 & 11-P-2173, 2012 Mass. App. LEXIS 241 (Aug. 23, 2012), the Appeals Court addressed complications arising in the intestate estate of a wife when it was learned that she and her surviving husband had not been validly married. |
Implications of Financial Reforms for Commercial Real Estate
Practice: Real Estate | PDF | It will take years before the financial industry has a clear picture of the regulatory framework created by Dodd-Frank, and the full ramifications for financing CRE properties will not be known for years to come. But it is not too early to provide initial answers to some of the questions that people are asking. |
Tax Pitfalls for Purchasers of Distressed Debt
Practice: Tax | | The current economic downturn has resulted in opportunities for investors to invest in distressed debt instruments. Debt investors, however, need to be aware of potential tax pitfalls before acquiring these bargains. |
Trademarks and Social Networking
Practice: Intellectual Property | | Many companies and organizations have begun to use social networks as a means of marketing their products and services and getting found on the Internet. However, organizations need to stay up to speed on these media and be proactive to protect their brands and other valuable intellectual property. |
Allocating and Minimizing the Risk of Construction Delays
Practice: Construction, Construction/Real Estate | | When a construction delay occurs, there is no question that the Owner suffers financially. But the extent to which an Owner can recover its loss of income from the Contractor, and, more importantly, minimize the risk that such delays will occur, depends largely on how the construction contract was drawn up – long before the first piece of heavy equipment rolled onto the site. |
FDIC May Not Honor Letters of Credit Issued by Failed Banks
Practice: Real Estate | PDF | Since 1995, the Federal Deposit Insurance Corporation (“FDIC”) has taken the position that it may not honor unsecured letters of credit issued by financial institutions that are placed in FDIC receivership. In the recent economic downturn, the FDIC has advised commercial landlords that this policy is still in effect. |
Madoff Scandal and How it Affects Customers of BMIS
Practice: Corporate | PDF | Following the shocking news that former NASD chairman, Bernard Madoff, had allegedly perpetrated a multibillion dollar Ponzi scheme on clients of his firm, the U.S. District Court for the Southern District of New York has ordered its liquidation. |
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