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If you or your Trust own or manage a business, you’ll be required to report information about the company's ownership under the new Corporate Transparency Act. And if you, or your Trust, create a new company in 2024, that report could be due in as little as 30 days. In this blog, I’ll share how to get a year-long reporting extension for your new business, but you’ll need to act before the end of the year. Read more…

There’s a lot to know about Wills. You need to understand the difference between a Will and Living Will, how Wills should be executed, and how they can be modified, terminated, or challenged. You also need to understand the probate process and how that can affect the outcome of your estate planning goals.

A last will and testament in Rhode Island is a legal document instructing what should happen to your assets and property (known as your estate) at the time of your death. But it does not stop there. You can assign a guardian for children and appoint an executor for your estate, and much more. Over the course of a lifetime, however, many events create circumstances that require you to change your Will. You remarried. You had a falling out with a family member. You started a business. Your partner died. You got a divorce. You had another child. Whatever the event is, you should change your Will to reflect the new circumstances. At The Law Offices of Senerchia & Sheehan, our estate planning attorney in Cranston believes in updating Wills on a regular basis so that they reflect the current situation in your life. If you have a Will and need to make changes to it, contact us online or at (401) 615-3880 to schedule a Free and learn more. In the meantime, here’s generally what you should know about changing Wills.

Have a great business idea in Rhode Island that you need to put into action? Over the last few decades, startups have taken over, and some of the best are not limited to tech startups. They are in every industry, from health (e.g., Devoted Health) to consumer and retail (e.g., Juul Labs), e-commerce (e.g., goPuff), artificial intelligence (e.g., ByteDance), financial tech (e.g., Stripe), supply chain (e.g., Instacart) and more. Getting started with your startup business, however, is the hard part. There are laws and regulations that must be followed. Getting it right can mean either a solid foundation from which your business will grow or a rocky foundation from which your business may fail. At The Law Offices of Senerchia & Sheehan, we want your startup to grow. Our startup attorney based in Cranston will help you get established with the best business structure for your idea while also meeting all your legal obligations to help you avoid future fines or potential lawsuits. Contact us at (401) 615-3880 to schedule a Free today.

Student loans are great because they help so many people further their education in Rhode Island and beyond. Upon graduation, though, they must pay back their loans. If they do not get well-paying jobs, then paying off the loans can be difficult. When a financial situation becomes difficult and bankruptcy seems like the only option, many debtors wonder if they can include student loans in their bankruptcy filing. Much confusion exists because student loans can be federal or private – the former typically cannot be discharged while the latter might be dischargeable. At The Law Offices of Senerchia & Sheehan, our bankruptcy lawyer in Cranston helps clients considering bankruptcy understand what debt can and cannot be included and how to proceed properly and timely. Contact us at (401) 615-3880 to schedule a Free and move one step closer to financial independence.

Trusts are a common tool used in Rhode Island estate plans. Wills are no longer the dominant method to secure property and assets for loved ones. Trusts, in fact, provide a number of benefits to the settlor or trustor – the person who creates the trust – while they are still alive, so in many ways, it makes sense to create a trust. The problem is this: appointing a trustee who will comply with the law, fulfill the terms of the trust, and always act in good faith. Appointing the right trustee is critical because they have many obligations to uphold.

Bankruptcy During a Divorce in Rhode Island As a general rule, it’s best to keep divorce and bankruptcy proceedings separate, rather than filing for them at the same time. The crossover of assets between the two cases can drag out both proceedings, costing you more time, money, and stress. A pending Chapter 7 or 13 bankruptcy can restrict a divorce court’s ability to divide your marital assets. Issues that typically arise during divorce proceedings, such as child support or alimony, may delay the finalization of a bankruptcy case. There is also this, the two proceedings, even if filed at the same time, will likely not proceed along the same timeline. In the unlikely event the cases are pending simultaneously, your bankruptcy case will be suspended until the divorce court apportions debt and assets to each party. So, trying to do both at the same time will not work and does not provide any benefits that could outweigh the many disadvantages.

Business Formation Lawyer in Rhode Island Have an idea for a business? Where do you start transforming that idea into a business? Determining business formation is one of the first and most important steps to starting a business in Rhode Island. It can make a difference in terms of taxes, liability, profitability, growth, and more. Getting it right from the very beginning is critical. At The Law Offices of Senerchia & Sheehan P.C, our business attorney will review your business idea with you and advise you on all your best legal options. From that point on, our business attorney will guide you through the process, proactively making sure you have all the forms, documentation, and other necessary information and strategies in place for a successful venture. Contact our business lawyer today at (401) 615-3880 to schedule a Free.

A beneficiary designation involves naming the person who will directly receive an asset in the event of the death of its owner. Assets that allow for beneficiary designations include insurance policies, retirement accounts such as 401(k) plans, annuities, and other financial accounts. Trusts also require beneficiary designations. You can also choose beneficiaries in your Last Will and Testament.  To note, beneficiaries are slightly different from heirs. Beneficiaries are chosen while heirs (though they can be chosen) are those who inherit the property of a person who dies intestate, or without a will. The designation process ensures the named beneficiary directly receives the asset, rather than it passing to the estate and going through probate, which can cost significant time and money. 

Crafting a thoughtful estate plan isn't just about financial matters; it's about securing a promising future for your children, especially those who are minors. While the idea of estate planning might sound complex, enlisting the support of a knowledgeable attorney can offer remarkable advantages to ensure the welfare and prosperity of your young beneficiaries. This blog delves into why involving an attorney in your estate planning process can be a game-changer for the well-being and potential of your minor children.

Empowering Your Children's Future: How Collaborating with an Attorney on Your Estate Plan Benefits Minors Crafting a thoughtful estate plan isn't just about financial matters; it's about securing a promising future for your children, especially those who are minors. While the idea of estate ...

Losing a loved one is an emotionally challenging experience, and during this difficult time, there are practical matters that require attention, such as handling probate and real property transfers. At The Law Offices of Senerchia & Sheeha, we understand the complexities involved in these legal processes and the impact they can have on families. With our Attorneys specialized in estate planning and probate law, we offer invaluable guidance to ensure a smooth and efficient resolution of estate matters. In this blog, we will explore the vital role of the Attorneys at Senerchia & Sheehan in navigating probate and real property transfers, highlighting the benefits we bring to our clients.

When it comes to property division during a divorce or separation in Rhode Island, hiring an attorney who specializes in family law is crucial to protect your interests and ensure a fair distribution of assets. Our experienced attorneys at The Law Offices of Senerchia & Sheehan will provide you with the necessary legal expertise, guidance, and advocacy throughout the process, helping you navigate the complexities of property division and working towards a satisfactory resolution. Remember, seeking professional legal advice early on can save you time, stress, and potential financial losses in the long run.

Understanding which Debts are  Dischargeable Debts in Bankruptcy Bankruptcy is a legal process designed to help individuals and businesses facing overwhelming debt. It provides an opportunity to obtain a fresh financial start by eliminating or restructuring debts. In the state of Rhode Island, bankruptcy laws govern the dischargeability of debts, determining which debts can be eliminated through the bankruptcy process. In this blog post, we will explore the concept of dischargeable debts in bankruptcy, specifically focusing on Rhode Island's laws and regulations.