Category: News

LEGAL UPDATE: New Massachusetts Homestead Legislation Signed Into Law

On December 16, 2010 Governor Patrick signed into law “An Act Relative to the Estate of Homestead”, a comprehensive revision of the Massachusetts declaration of homestead law. Under prior law, a declaration of homestead protected up to $500,000 of equity in your primary residence.  This protection was available only if the homeowner actually filed a declaration of homestead at the registry of deeds.  Prior law contained several confusing provisions that sometimes disadvantaged homeowners. The new Homestead Legislation goes into effect on

Read More...

Tax Update – 2010 Tax Relief Act

Congress approved and President Obama signed into law on December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This letter is intended to inform clients about changes made by this far-reaching tax law and impress upon them the many ways in which the new law will impact their personal and business tax situations. Re: 2010 Tax Relief Act: General Information After weeks of intense negotiations between the White House and Congressional leaders, Congress passed,

Read More...

Legal Update – Massachusetts Adopts Additional Foreclosure Requirements

The Massachusetts legislature recently enacted emergency legislation which requires lenders to comply with new rules before foreclosing on a residential property.  The new law essentially (i) expands existing pre-foreclosure notice requirements and (ii) creates a new statutory chapter granting additional protections to tenants impacted by foreclosures. Pre-Foreclosure Notice Requirements. The new bill, S 2407, (Chapter 258 of the Acts of 2010) temporarily revises G.L. c. 244, §35A (the revisions expire on December 31, 2015).  The law now requires that lenders

Read More...

Tax Update – Small Business Jobs Act

On September 27, 2010, the President signed the Small Business Jobs Act of 2010, passed by Congress the prior week.  The Act’s title “Small Business Jobs Act of 2010” does not reflect its true scope; its provisions impact businesses of many sizes. In addition to the many non-tax provisions related to small business lending and access to capital, tax provisions in the legislation include a retroactive extension of bonus depreciation, a doubling of the Code Sec. 179 expense limit, a

Read More...

Legal Update – CORI Law

On August 6, 2010, Governor Deval Patrick signed into law long-promised amendments to the Massachusetts Criminal Offender Record Information law, commonly referred to as the CORI law.  The amendments are generally effective as of February 6, 2012.  However, the amendments relating to written employment applications become effective on November 4, 2010.  These changes will have important ramifications for employers that use criminal offender record information to learn about criminal charges, arrests and incarceration of current and prospective employees. Initial Written

Read More...