What’s New?

Corporate Transparency Act or CTA

  CLIENT ALERT: CORPORATE TRANSPARENCY ACT This message is to notify you of some important regulatory changes that will impact many business entities and may require your attention. The Corporate Transparency Act (CTA), enacted by Congress in 2021, imposes new reporting requirements on many corporations, limited liability companies, limited partnerships and other business entities. Effective January 1, 2024, CTA requires “reporting companies” to report certain beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCen) of the U.S. Department of

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December 2020 – Robert Holloway listed in Marquis Who’s Who®

‘Marquis Who’s Who® has chronicled the lives of the most accomplished individuals and innovators from every significant field of endeavor, including politics, business, medicine, law, education, art, religion and entertainment.’ Bravo Bob! https://www.24-7pressrelease.com/press-release/477659/robert-holloway-celebrated-for-dedication-to-the-field-of-law

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Robert Holloway featured on WBZ radio

Our own Robert Holloway, former Massachusetts Bar Association President, joins WBZ in studio to offer a crash course on how to get the legal help you need, whatever your problem might be. To listen to the Podcast, click here.    

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Estate Planning Update – Estate Recovery Alert

Governor Baker’s Fiscal Year 2017 budget includes a proposal that would allow Mass Health estate recovery from non-probate assets.  The current law defines an “estate” against which recovery can be made as “all real and personal property and other assets includable in the decedent’s probate estate under the General Laws”.  Governor Baker’s proposal would apply to individuals who become eligible after July 1, 2016 and seeks to define such estate as: any interest in real and personal property and other

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Duties of Stockholders of Close Corporations

Many smaller business owners elect to conduct their enterprise in the form of a corporation or limited liability company.  In doing so, they recognize the benefits this form of entity provides such as limited liability and perpetual existence, among others.  However, what may be underappreciated is the nature of the obligations and duties stockholders of close corporations and members of limited liability companies owe to one another and to the entity itself.  These obligations and duties are fiduciary in nature. Business owners would

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