Many people shudder to think of the impact of financing long-term care with the financial resources that they've spent a lifetime building. Long-term care, more commonly known as nursing home care, is very expensive, with an average cost of $8,000 or more per month. There are various means of financing long-term care; however, most Americans believe that the federal government or Medicare will pay for their long-term care costs. Unfortunately, this is not the case. Our legal team can help you plan for the future and protect your assets.

If you've been in an auto accident, you probably need help settling and paying your medical bills, dealing with insurers, and bringing litigation for your injuries. Our legal team can help.

Most small businesses are financially cyclical to some extent, with some days, weeks, months and years better than others. Although good financial planning can lessen the impact of economic downturn, many businesses do experience some level of financial hardship at one time or another. These times can be especially difficult if the business owner becomes uncertain of his ability to make a monthly payment to a secured lender.

There are ways to deal with cash-flow problems as they apply to secured lender obligations. It is important to put them into perspective by way of a timeline. Usually the inability to pay is not an unforeseen occurrence discovered on the day a payment is due, but rather is foreseeable at least 90 to 120 days in advance. This is generally the most crucial time period and is referred to as "pre-default".

The biggest mistake small business owners tend to make during the pre-default period is ignoring the imminent financial tidal wave because they unreasonably believe that a miracle correction will set things straight. However, if the issue is acknowledged quickly at the outset, there are more options available to correct the situation. In addition, pre-default solutions are generally easier to impose and less costly than after the "tidal wave" hits.

Our attorneys can help you to avoid complex, costly, formal, and public bankruptcy proceedings when financial hardship arises.

• Construction Loans - If you're looking for an often short-term, interim loan for financing the cost of residential or commercial construction, rather than outlaying the entire principal amount of the loan at once, your lender can disburse the funds to you in accordance with a construction schedule as your project progresses. We can provide you thorough assistance to ensure that your construction project financing moves forward on the anticipated schedule.

• Purchase Money Financing - This is when the seller of equipment (e.g. machine, device, or vehicle) provides the financing for the acquisition of the equipment to the purchaser and agrees to take back a lien on the equipment as collateral security for the financing. We can assist you in making certain that new equipment is financed expeditiously to avoid any interruption to your ongoing business operations and ensure your business' continuity.

• Asset-Based Loans - This is a commercial loan secured by your company's 'personality' as well as its real property assets. In addition to the lender receiving a real property mortgage on real estate as collateral for the loan, the lender may also collateralize the loan by a lien on accounts receivable (A/R), inventory, and equipment. Often the amount of the loan is directly related to the value of the assets, as measured over a period of time, e.g. annually. We can demystify the complexities of asset based financing, and ensure that all borrowing requirements are clearly stated and understood.

• Equipment Leases - By obtaining the use of machinery, vehicles, or other equipment on a rental basis versus purchase, you avoid the need to invest significant capital for a purchase. This prevents the need to invest capital in equipment. Ownership rests in the hands of the financial institution or leasing company, while your business has the actual use of the equipment. We can work with you to ensure that lease terms are commercially reasonable, agreeable, and provide for favorable terms and conditions.

A Brownfield site is real property in which the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. Brownfield sites are often abandoned industrial or commercial sites.

Previously, both developers and their lenders steered far clear of these sites for fear that the substantial environmental cleanup costs involved would reduce the anticipated project profit margin. Commercial lenders also feared that, in the event of a foreclosure, the bank would be burdened with a contaminated property and substantial attendant cleanup costs.

New federal and state legislation (the Small Business Liability Relief and Brownsfields Revitalization Act, and the Brownsfields Act: Chapter 206 of the Acts of 1998, respectively) now provide financial incentives that can allay these concerns and have reinvented the business model regarding these sites. Our attorneys can help guide you through the process of purchasing and developing a Brownsfields site.

If you need assistance with bringing actions and defense relating to consumer claims, our lawyers can help you represent your interests.

In the event that you find yourself involved in a dispute relating to a breach of contract claim, our attorneys can help you work toward a favorable resolution. We can also review any contracts before you sign them to avoid potential disputes in the future.

There are three principal types of ownership (tenancies) relative to real estate. The most familiar is what is known as "joint tenants". This means that if one person dies, the survivor owns all of the interest in the property. In a "tenancy in common", each owner of the property has an undivided interest in the whole of the property. In this type of tenancy, upon the death of any owner, his share will pass as directed by his will, or by intestacy if he does not have a valid will. A third, special form of ownership allowed in several states is what is known as a "tenancy by the entirety". In this case, only a husband and wife may own the property, and the property passes to the survivor.

Each type of ownership has advantages and disadvantages specific to your situation. Our lawyers can help you determine which suits you best.

Everyone knows that the law prohibits discrimination based on sex, age, religion, or ethnicity, but there are many other areas that can be troublesome for an employer. Before you make a decision about such things as who can and cannot take leave to care for a sick or disabled loved one, or what is or is not a reasonable accommodation, it's a good idea to consult with an employment law attorney.

There are constant and ongoing changes occurring within employment law. These changes can result from many sources including the legislature, various regulatory agencies, and court cases. To avoid litigation, your company's policies and procedures should reflect the latest state of the law. A comprehensive employee manual is a great way to start, but if you fail to regularly update that manual to reflect the current laws and standards, it isn't worth much. A company audit is an ideal way to ensure that you are in full compliance. Our attorneys can help you protect your business by keeping you apprised of current employment law.

As every residential landlord knows, obtaining a judgment for eviction can be difficult and expensive. Under the old bankruptcy law, tenants could file and cause a lengthy delay of a hard-fought eviction.

Now, under the Bankruptcy Abuse Prevention and Consumer Protection Act, (BAPCPA) if a residential landlord has a judgment for possession by the time the tenant files for bankruptcy, the stay does not prevent the landlord from continuing to evict the tenant 30 days after the petition was filed. With few exceptions, in a majority of cases, it is likely that a debtor's financial distress will prevent any cure, thus permitting the landlord to move forward with eviction in a relatively short period of time. Bacon Wilson can help facilitate the process for you.

Many expectant parents have questions about how much leave they are entitled to after the arrival of a new child. The laws are different for expectant mothers and fathers. Depending on the employer, some expectant fathers may be unable to take paternity leave when their child is born. Conversely, depending on the employer, expectant mothers may be able to take up to twenty (20) weeks of leave under State and Federal Law.

The Family and Medical Leave Act (FMLA) provides for twelve (12) weeks of leave, regardless of the gender of the employee, for the birth and care of a newborn child, care for a newly adopted or foster child, or leave for a serious illness to the employee. Leave can be for paternity, maternity, or specific personal health reasons, depending on the needs of the employee. But there are conditions that apply to the family and medical leave. Our lawyers can help clarify them for you.

• Construction project loans - Regardless of the sophistication of your financing commitments, we will provide the appropriate construction loan documentation and expertise for your deals, including projects involving multi-income, historical, and new market tax credits.

• Purchase money financing - You need to document and secure the financing of various business assets through a perfected first priority purchase money security interest, whether as a standalone initial credit facility, or in conjunction with existing credit to third party secured lenders. We can help.

• Asset based loans - Whether you are providing asset based financing to fund ongoing working capital needs, machinery and equipment, or commercial real estate, we can assist you with properly documenting and securing the necessary credit facilities.

• Capital equipment leasing - When your financing commitment includes a capital equipment leasing component, we can provide you with the tools to successfully complete this portion of your overall loan package.

• Workouts, including dispositions of businesses and asset portfolios - Lenders sometimes encounter borrowers with troubled credit. We can provide you with the necessary tools to complete a successful workout, and where necessary, a timely liquidation of both real and personal property collateral.

• Regulatory and compliance matters - Sometimes you need timely answers to specific questions about regulatory and compliance questions in connection with your lending practices. We'll help clear up your confusion.

Massachusetts law may hold employers liable for harassment or retaliation, be it sexual harassment or for other reasons, even if it was not a supervisor who engaged in prohibited activity. If a supervisor or a managerial employee learns that a worker is being harassed by another employee, it is imperative that immediate remedial steps are taken to avoid liability. It is a good idea to consult with an employment law attorney to avoid problems.

If you've been injured in an auto accident, a slip-and-fall situation, or at work, or if you're the victim of negligent medical treatment, you probably just want life to get back to normal. Our legal team can handle the coordination of medical expense payments and deal with insurers so you can concentrate on recovering.

Everyone has a will, whether or not they know it. You might say: "I never drafted a will, so I can't possibly have one." The reality is that if you fail to draft or properly execute a valid will, then the laws in your state will determine how your estate will be distributed. Thus, even though you may have failed to formally address your wishes about how to distribute your estate, state law will step in to distribute your estate (based on their guidelines and determination) upon your passing. A will is a legal document that states your wishes regarding the distribution and settlement of your estate (the property that you own and hold in your name) after you have passed away. As a legal document, a will is designed to guarantee that your wishes be carried out. In a well-drafted will, you determine and state:

• How your property will pass (either by gift or trust)
• When the distribution will be made, (i.e. when a child reaches the age of 21,)
• Who will serve as your executor/trustee

In basic terms, a will guarantees that your wishes will be carried out in the way you have requested once you die. If you die without a written will, then you are said to have died "intestate" and your estate will be distributed by the probate court according to state law. The problem that can occur with this process is that the laws in your state may not yield the same results that you wish to occur upon your passing. Our legal team can help you create a will that will state how you want your estate to be distributed following your death.

Conducting a "like-kind" exchange under the Internal Revenue Code section 1031 is one of the few legitimate tax shelters available to individuals, corporations, and other business entities engaging in the disposition of assets. Deferred exchanges allow taxpayers to engage in transactions for the exchange of like-kind property and avoid capital gains tax on the appreciation in the value of their property. A 1031 exchange (or a tax-deferred exchange) permits investment property owners to sell a property and defer tax payments by reinvesting the proceeds of the sale into a like-kind property.

Simply put, a like-kind exchange is a method whereby a property owner trades one or more relinquished properties for one or more replacement properties of like-kind, while deferring the payment of federal income taxes and some state taxes on the transaction. The Bacon Wilson legal team can help.

When medical treatment mistakes are made that cause serious harm to you or a family member, we can help you obtain restitution for your pain and suffering.

An employer may be held liable for an intentional or illegal act committed by his employee. The employer's knowledge of past acts of impropriety, violence, or disorder by an employee may be sufficient to forewarn the employer that the employee may engage in future wrongful conduct. Bacon Wilson can help counsel you in hiring responsibly and what to do if you find yourself the target of a negligent hiring suit.

Many companies find it necessary to have agreements with employees that protect against competition and the use of company trade secrets by departing employees. The laws regarding enforceability of these agreements are complicated. Bacon Wilson can offer you legal counsel in this matter.

If you've been injured in an auto accident, a slip-and-fall situation, or at work, or if you're the victim of negligent medical treatment, you probably just want life to get back to normal. Our legal team can handle the coordination of medical expense payments and deal with insurers so you can concentrate on recovering.

If you or a family member are injured by a defective product and need assistance in your recovery against the manufacturer of the product, our legal team can guide you through the process.

There are three principal types of ownership (tenancies) relative to real estate. The most familiar is what is known as "joint tenants". This means that if one person dies, the survivor owns all of the interest in the property. In a "tenancy in common", each owner of the property has an undivided interest in the whole of the property. In this type of tenancy, upon the death of any owner, his share will pass as directed by his will, or by intestacy if he does not have a valid will. A third, special form of ownership allowed in several states is what is known as a "tenancy by the entirety". In this case, only a husband and wife may own the property, and the property passes to the survivor.

Each type of ownership has advantages and disadvantages specific to your situation. Our lawyers can help you determine which suits you best.

You may have maintained a home, summer cottage, ski chalet, or similar property for family use. A qualified personal residence trust (QPRT) may accomplish your objective of maintaining this property after your death so that your children will be able to use it for future generations. The property will mostly have appreciated since you purchased it, and the QRPT may be utilized to reduce taxes upon passing the property to your children, so that they won't be forced to sell it.

There are two primary goals of employers in offering severance packages to employees: first, extending fairness and compensation to longer-term employees and second, reducing the employer's exposure to potential liability in a lawsuit or administrative claim. Severance packages are complicated and best offered under the direction of an employment law attorney.

If you suffer from injuries caused by a fall on a property such as a store, parking lot, or another area not properly maintained in safe condition, the Bacon Wilson attorneys can help.

Owners of closely held business must plan well in advance to prepare for and ensure the continued success of the company following a triggering event such as the death, disability, or retirement of one of its shareholders. For family-owned businesses looking to carry the organization along through generations, the typical track record is ominous. According to the Small Business Administration, 90% of the 21 million U.S. businesses are family-owned, and one-third of Fortune 500 businesses are either family-owned or family-controlled. However, only 30% of family-run companies today succeed into the second generation and only 15% are passed on into the third generation. At Bacon Wilson, we can assist with the orderly transition of your business.

Revocable trusts, also known as an "inter-vivos trusts" or "living trusts", are among the most useful estate planning tools for the management and distribution of family assets. Trusts serve a wide range of functions and may be appropriate for a variety of family financial circumstances and goals.

A common misconception is that trusts are only for the very wealthy. In reality, trusts can be used in variety of different circumstances and are a powerful way to manage assets.

Forming a trust consists of several steps:

• The trust is created by the "grantor".
• The trust is funded, meaning that the grantor's assets are placed into the trust. Assets can include stocks, bonds, mutual funds, real estate, bank accounts, etc.
• The trustee(s) accept the responsibilities as expressed in the trust document. The trustee can be the grantor during his or her lifetime.
• The trust itself contains dispositive provisions to instruct the trustee in managing the investments and distributing income or principal to the beneficiaries. This is the roadmap detailing how your property is distributed.
• Beneficiaries are chosen to benefit from the trust. This typically includes the grantor during his or her lifetime, as well as family, friends, or charities upon the grantor's death.

There are a number of helpful functions that trusts can perform:

• A trust can help with business succession when it is desired that certain parties run the business and others benefit from its gain.
• A trust can ensure the continued management of a business or personal finances.
• A trust can direct the trustee to provide full management in the event of incapacity.
• Assets held in a trust avoid probate and its attendant delays and costs.
• Dearly loved pets can be cared for upon the death or incapacity of the owner.
• The trust can be part of overall estate planning and can allow for control of assets even after death.

A trust has a number of beneficial attributes. The trust, and therefore its assets, can be professionally managed if you name a bank or trust company as its trustee. Certain tax benefits can be gained, especially for married couples. Financial privacy is maximized when your estate avoids the public process of probate.

Other types of trusts include:

• A special needs trust to maintain benefits for a disabled individual
• An irrevocable trust to allow life insurance benefits to pass tax-free to younger generations
• An alternative irrevocable trust to protect assets from long-term care expenses

Bacon Wilson's experienced attorneys can help you navigate your trust options and select the type most appropriate for your needs.