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The Massachusetts Parentage Act: A Step Towards Parentage Equality for All
- Julie A. Dialessi-Lafley, Britaney N. Guzman-Bailey, February 2025
- Establishing parentage is important for the well-being of a child because the relationship is the foundation of various rights and responsibilities for both the parent and child alike, including access to educational and medical records, tax benefits, health insurance, government benefits, inheritance rights, financial support, custody, and parenting time…
Important Update on Corporate Transparency Act Compliance
- On December 23, 2024, the Fifth Circuit granted the motion for a stay of the previously granted preliminary injunction that had suspended these requirements. As a result, the CTA reporting requirements are restored, subject to the following extended deadlines…
Charitable Giving Benefits You Too
- Gina M. Barry, December 2024
- As we come to the holiday season, charitable giving comes to the fore. Do you donate money to charity each year? Perhaps you donate to an organization dedicated to finding a cure for an awful disease…
Our Year in Review
- As we close another successful year, we are proud to share the highlights of our philanthropic efforts in 2024. At Bacon Wilson, giving back is at the heart of what we do, and this year has been no exception. Together with our clients, staff, and community partners, we have achieved…
Planning After the Diagnosis
- Gina M. Barry, November 2024
- Imagine that you have just received a medical diagnosis that is likely to result in your incapacity or death in the near future. As your mind reels, you begin to worry about who will help you if you lose the ability to make your own decisions, as well as who will be there to wrap up your affairs when you die…
Good News for Massachusetts Estates
- Hyman G. Darling, November 2024
- In the fall of 2023, the Commonwealth increased the exemption for estate taxes for Massachusetts residents from the $1 million exemption (with the cliff!) to $2 million with no cliff…
Plan Now for Your Partners Sake
- Gina M. Barry, October 2024
- Recently, many committed couples are choosing not to get married, especially if one or both have been previously divorced or widowed. Although unmarried, these couples present themselves as a married couple. They live together and own property and other assets together…
Handling a Dog-Related Injury
- September, 2024
- Dog bites and other injuries caused by dogs can be a traumatic and life-altering experience. They often result in physical injuries, emotional distress, and unexpected medical expenses…
Writing your will: When is the best time?
- Hyman G. Darling, August 2024
- Although August has been designated as the month that people should make a will or revise their estate plan, there is no best time to have a will written. Many clients only sign a will when they are very ill, take a vacation, or some other life event in their life or the life of another person spurs them to call on a lawyer to prepare their estate planning documents…
Supreme Court Decision Overhauls “Buy-Sell” Agreements among business owners
- Jeffrey I. Fialky, July 2024
- On June 10, 2024, the Court’s decision in Connelly v. United States has introduced significant changes to how life insurance proceeds are treated when calculating the value of a business in the context of stockholder buy-sell redemption agreements…
The Decline of the Nuclear Family: Emergence and Challenges of Non-Traditional Family Structures in Modern Society
- Julie Dialessi-Lafley, July 2024
- Historically, a nuclear family (also known as an elementary family, atomic family, cereal packet family or conjugal family) was the traditional family structure which is defined as a family group consisting of parents and their children (one or more), typically living in one home residence…
Establish an Estate Plan Before Your Trip
- Gina M. Barry, July 2024
- Summer is nearly here, and many are heading off for a fun, restful vacation. Perhaps you will head to the shore to enjoy the weather? Perhaps you will visit family or friends? When planning to travel, it is common to experience nervousness…
Bacon Wilson, P.C. Welcomes Four Law Clerks for the 2024-2025 Season
- July, 2024
- Bacon Wilson, P.C. is pleased to announce that Alba Ago, Benjamin Keogh, Gary DeYoung, and Sarah Zaino have been accepted into the Law Clerk program for the 2024-2025 school year. Bacon Wilson created the clerkship program more than forty years ago to allow law school students to gain experience and mentoring in the legal profession. The Clerks are an integral and important part of the firm and participate in various firm events during their time at Bacon Wilson, P.C.
Certified Diverse Businesses in Massachusetts: How to Qualify and Comply with Requirements
- Julie Dialessi-Lafley, Britaney Guzman-Bailey, June 2024
- It is no secret that running a profitable business can be difficult. It can be even more difficult, however, for women, minorities, veterans, persons with disabilities, and members of the LGBTQ+ community, who often face systemic obstacles to achieving sustainable economic status for their businesses…
Six months left to file under the Corporate Transparency Act
- Jennifer Sharrow, June, 2024
- The CTA aims to enhance transparency and combat illegal activities such as money laundering, tax evasion, and financing of terrorism. Compliance is mandatory, and failure to file can result in significant penalties…
The FTC Votes in Favor of Banning Non-Competition Agreements Nationwide
- Tim Netkovick, May, 2024
- On Tuesday, April 23, the Fair Trade Commission (FTC) voted in favor of a rule that would ban non-competition agreements nationwide. The rule has potential far-reaching implications because it would apply retroactively, meaning that it would potentially invalidate the majority of non-compete agreements…
Protect Your Home with a Declaration of Homestead
- Gina Barry, May, 2024
- Very often, a person’s home is their most valuable asset. As the homeowner’s equity grows, they take many steps to protect their investment, including securing homeowner’s insurance and spending countless hours and dollars maintaining the home…
Recognizing Abuse of Older People
- Gina Barry, April, 2024
- Everyone, regardless of age, deserves to be treated in a way that keeps them safe from physical, emotional, and financial harm. Each year, an estimated 2.1 million people older than 65 fall victim to those who abuse their trust and need…
Unmarried Parents Are Still Parents: Considerations for Successful Co-Parenting
- Julie Dialessi-Lafley, March, 2024
- More and more frequently people are opting not to get married but are still desirous of having children and becoming parents whether or not they are in a committed relationship with their partner. The decision to have a child or children creates a permanent connection to the other parent regardless of the marital status of the parents…
Let us demystify the real estate sales process for you
- The Residential Real Estate Department • February, 2024
- If you sold your property in 2023, there are some things you need to know. The sale of your property may be deemed “reportable” to the IRS and you may be responsible for paying capital gains taxes on the profit…
Wills vs. Trusts – Which is right for you?
- Gina Barry, Esq • February, 2024
- You are having a conversation with your neighbors, who have just established their estate plan, and they tell you that their plan includes a Revocable Trust. You only have a Will, and this causes you to worry that a key component of your estate plan is missing…
The Four Basic Estate Planning Documents
- Gina Barry, Esq • January, 2024
- When it comes to estate planning, the adage is true. An ounce of prevention is worth a pound of cure. Many people believe that they do not have enough money to need an estate plan; however, the need for an estate plan is not solely related to the amount of your wealth…
Important Notice Impacting Business Entities
- Jennifer Sharrow, Esq • January, 2024
- A new reporting requirement mandated by the passage of the federal Corporate Transparency Act (CTA) will require most existing and newly formed businesses to report information about their beneficial owners to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). This new requirement applies to limited liability companies, corporations, real estate holding companies, and more…
Medicaid Myths
- Hyman Darling, Esq • December, 2023
- It seems like every day a client tells me that they are going to protect their assets from long-term care expenses by making a gift of $10,000.00 to their children. If this writer got paid every time a client misspoke about this rule, he quite possibly could be retired…
You Can’t Take It With You
- Gina Barry, Esq • December, 2023
- As we come to the holiday season, charitable giving comes to the fore. Do you donate money to charity each year? Perhaps you donate to an organization dedicated to finding a cure for an awful disease. Perhaps you choose to benefit organizations that support and encourage positive growth in our youth…
Estate Tax Update
- Gina Barry, Esq • November, 2023
- When a Massachusetts resident passes away, every asset that they own is subject to estate tax. Estate tax is imposed by both the Commonwealth of Massachusetts (state estate tax) and the United States government (federal estate tax). While this may seem to create a fairly large burden, both the state and federal estate tax systems provide a credit that allows the deceased individual to pass a certain amount of assets without paying any estate tax…
Avoiding Caregiver Stress
- Gina Barry, Esq • October, 2023
- “I’m so stressed out!” Certainly, all of us have made this proclamation. Take a moment now to think of how you felt at that time, and you will get a glimpse into the daily lives of our nation’s family caregivers. A caregiver is anyone who helps another person in need with daily tasks, such as bathing, cooking, eating, taking medications, dressing, using the bathroom, shopping, and house cleaning…
Planning for Long-Term Care
- Gina Barry, Esq • September, 2023
- Long-term care costs can deplete your assets at an alarming rate. Many people will enter a nursing home during their lifetime where they will incur the average monthly cost of $13,000 for an average stay of 2.5 years…
Estate Planning Concerns for Women
- Gina Barry, Esq • August, 2023
- When it comes to financial independence and estate planning, women face a unique set of challenges. Statistically, a married woman is most likely going to outlive her husband. In 2022, the average age of a widow was 59 years old…
Roadmap for Recording- New Requirements for Businesses Under the Corporate Transparency Act
- Jennifer Sharrow, Esq • August, 2023
- Businesses get ready, the federal government is implementing new reporting requirements that will bring even the smallest businesses under the purview of the U.S. Department of Treasury. All entities registered with a Secretary of State are now required to make mandatory reports which require specific and detailed information…
Remote Online Notarization – A Sea Change for a Longstanding Legal Requirement
- Sarah Federation, Esq • Jeffrey Fialky, Esq July, 2023
- Most individuals have at some point had special documents executed in the presence of a notary public- perhaps in connection with estate planning, banking, or the purchase or sale of real estate. Massachusetts, like many other states throughout the Country, has a very specific and particular set of statutory requirements for notaries public compliance…
Special Needs Require Special Planning
- Gina M. Barry, Esq • July, 2023
- According to the Centers for Disease Control and Prevention, in the United States today, 61 million adults are considered disabled. Their disability may entitle them to receive various benefits that are provided by the federal and state government. Some of these benefits, such as Medicaid, Supplemental Security Income (“SSI”), food stamps (“SNAP”), housing, or fuel assistance, may only be available to the disabled person if they meet eligibility requirements that require the disabled person to have income or assets less than a certain amount…
Establish an Estate Plan Before Your Trip
- Gina M. Barry, Esq • June, 2023
- Summer is nearly here, and many are heading off for a fun, restful vacation. Plans are being made to head to the shore to enjoy the weather, and many are also making plans to visit family or friends. When planning to travel, it is common to experience nervousness…
Ensuring Your End of Life Wishes Are Honored
- Gina M. Barry, Esq • May, 2023
- No one likes to think about what might happen if they were in a serious accident or contracted an illness that left them unable to speak and make their wishes known. Unfortunately, such situations occur every day…
Estate Planning Considerations for Men
- Gina M. Barry, Esq • April, 2023
- As women continue to make strides in business and politics, traditional gender roles are changing; however, some things have not changed. Statistics show that it is typically a male who delays estate planning, primarily due to silly superstitions, procrastination, or a stubborn resistance…
Good Grief
- Gina M. Barry, Esq • March, 2023
- Imagine if you were to pass away today. Your loved ones would be devastated, but would, nonetheless, be called upon to tend to your final affairs – arranging your funeral, managing your final debts, and possibly even having to probate your estate…
Blended Families
- Gina M. Barry, Esq • February, 2023
- Blended families, which are families that include a couple and their children born of their current and all previous relationships, have become increasingly more common. They currently outnumber non-blended families, which are families that include a couple and the children born of the couple only…