Barry Gordon

Where There is a Will, There is a Relative

You may have heard me say this before but it is so important that it needs to be repeated:

These days families are not waiting for the parent to die –  they are starting early to cause everlasting friction.

More and more adult children are fighting with each other and with their parents about parental care, control of estates and exercising control.  It is important that parents decide for themselves how they want to be cared for, and will be left for them.

Parents should make certain that they have their primary care physicians provide a certification about their competency at the time they are signing wills and other estate planning documents – especially if there is any possibility that someone might later be inclined to claim that the parent was not capable of signing their own documents and making their own decisions.

Any person designated as power of attorney and/or health care proxy should truly understand the wishes of the person who gave them the power.  Powers should be given to those relatives and professionals who are empathetic and competent, not merely because they are a child or a spouse.

Plan ahead and do not hesitate if you decide to make changes.  At Gordon, Mond & Ott, P.C. we will give you the opportunity to build in continued planning for a set fee.  Call Barry Gordon. 617- 786- 0800.

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

This column constitutes legal advertising, and as such provides information about the law designed to help users safely cope with their own legal needs.  But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances.  Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.

Barry Gordon

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

Thoughts on the Pre-Nuptial Agreement

It is difficult dating, finding someone you enjoy being with, perhaps living together and amazingly getting married.  Add to that the significant number of marriages that end in divorce, and it becomes a practical matter to consider a prenuptial agreement.

If you own valuable assets including a business;  if you are marrying someone who is struggling in business or has children from a first marriage; if you were fortunate to be born into  a wealthy family; or if you are entering into a second marriage, then we believe that you should definitely consider a pre-nup. If it seems crass and unromantic, it’s because it is.

The purpose of a prenuptial agreement is NOT to hedge a bet against love, but to set forth a division of assets should the unfortunate and undesired event of either divorce or death occur.  The agreement can be defined to last for a set number of years, or for forever.

You can always change your mind or modify your position after the wedding is long past by amending the agreement.

The most important thing you must do when entering into this agreement: you must disclose everything that you own.  The reason for full disclosure is twofold: first, later challenges will be reduced if you are honest; and two, incomplete disclosure is not a great way to begin a marriage.

Be honest with your intended, and do your planning months before the wedding.  Don’t do it in the midst of a wedding outfit fitting or when the guests are arriving.

Just recently the Supreme Judicial Court of Massachusetts confirmed the acceptance of post-nuptial agreements.  So, if things are changing in your marriage, this is another discussion to have.

Each spouse needs an attorney to finalize these agreements.  For more information and thoughtful ideas, please call Barry Gordon at Gordon, Mond & Ott, P.C. at  617-786-0800, or email bgordon@gmo-law.com .

Barry Gordon

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

Give Up the Pit Bull and the ‘Three Rs’ of the Legal Process

“Walking out of [your] office it appeared the planet had decreased in mass, or perhaps I shed a few pounds, as my tread was lighter than it has been in weeks:  Thank You.” – Quote from a recent client

What I have found in my practice as a lawyer for more than 40 years is how much energy people spend looking backwards.  I have often heard clients say something like:  “I want a lawyer who is a pit bull.”

Sometimes you do –  but most of the time you don’t.  The reasons why you do not are many, not the least of which include:  you do not know why you want a pit bull, you cannot afford a pit bull, and in all likelihood you will not get the results you want from a pit bull.

We all know the traditional “Three Rs:  Readin’, ‘Ritin’ and ‘Rithmatic.”  Learning them often entails a struggle; BUT they are far easier to deal with than the other “three Rs:  Resentment, Revenge and Regret.” These Three Rs drain us, cause a tremendous amount of stress and severely hinder us and often prevent us from achieving success in our personal and business lives.

So, shedding as much Resentment, Revenge and Regret as possible constitutes the first step on the road to success.  It is a complicated process, and you cannot accomplish it alone.  Working with specific professionals will speed this process along.

Depending upon the issues, these professionals may be lawyers, counselors including psychologists, financial advisors, accountants, social workers and other facilitators.

Each professional will give you the specific support you need and will ask questions, challenge you, and allow you to express your thoughts.  They will help you to disgorge all the anguish, anger and frustration that you could not discuss with anyone else.

Without forgetting the past, you can forgive and move forward.

Okay, so all of this does not sound like it came from a lawyer.  Yet here I am saying it, because I have seen (and heard from) clients who let go of their “pit bull” demands, and achieve peace and success in even the most contentious of legal proceedings.  And sometimes all it takes from me is good, focused listening.

Of course, there are times when you need a pit bull — and we are fully capable to provide those services as well.

Call Barry Gordon at Gordon, Mond & Ott, P.C. for an in-depth consultation from an attorney who listens.

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C.  A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business.  Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN,  the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Barry Gordon

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

A ‘MUST-READ’ FOR FAMILY BUSINESS MEMBERS

Sometimes trying to summarize something that has been written very well loses too much of the essence of the article.  Thus is the case with an article about litigation in family owned businesses, written by George F. Burns, a friend who is an attorney in Maine.

If you have a family business, you owe it to yourself and your company to read the article HERE.  It covers the pitfalls and true costs – whether you win or lose — of litigating differences among family members.  (Link provided with permission of the author.)

MARK YOUR CALENDARS

On June 22, I will be leading an evening seminar in conjunction with Glen Dowden of Ameriprise Financial and Patrick Sherman of RiverSource Insurance, discussing “Planning for, Managing and Preserving Success.”  It is a seminar that focuses on forgiving yourself and others for past mistakes, being transparent with those you care for, and making your business and life successful.

Scheduled for 5:00 p.m., at the Granite Grille (703 Granite Avenue) in Braintree, the event is free but there will be a limited number of seats.  To reserve yours, please contact me by June 21^st at 617-786-0800, or by Email at bgordon@gmo-law.com.

~~~~~~~~~~~~~~~~~~

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C.  A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business.  Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN,  the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Strive to be a “10″ in 2010 and you will be.

Barry Gordon

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

Planning Creates the ‘Wonderful’ in Your Business Future

The future looks wonderful. If you do not think so, look backward.  It will not look as good as looking forward.

For a future to look wonderful, it requires is planning.  Not short term planning, but long term planning.  It is appropriate to plan out 10 or more years.  Why spend each day worrying about tomorrow?  In 10 years there will be 3,650 tomorrows.  Each one will make you more anxious than the rest.

If you are a client of Gordon, Mond & Ott, P.C., we will work with you and your other advisors to come up with a long tem plan to allow you to succeed in your business.  We believe in an integrated approach to business planning.  Based upon our years of experience we will provide sound and innovative ideas that will allow you to pursue your goals — and even enjoy the process.

In June we will be conducting a seminar which will address many of your concerns, and allow you to ask many of the questions that you have been thinking about but have not had an opportunity to ask.  Email me, Barry Gordon, (bgordon@gmo-law.com) if you are interested in attending a seminar.

~~~~~~~~~~~~~~~~~~

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C.  A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business.  Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN,  the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Strive to be a “10″ in 2010 and you will be.

Barry Gordon

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

Tips for Estate Planning

Car sales are climbing, crocuses (croci, for you Latin scholars) are up, winter coats no longer shield our backs each day nor does the yoke of winter weigh on our shoulders.

A bright smile and a good attitude will multiply your opportunities for a job, either full or part time.

Since most people are now thinking about their taxes, it’s a good time to look at estate planning. You may need a will, but if there are kids or grandkids that you want to benefit a trust is in order.  Make sure the people you want to benefit are truly protected.

Talk to your parents and make sure they have their financial needs are in order, ns well as their estate plans, health care proxies and powers of  attorney.  While these discussions may cause some temporary stress it will be minimal compared to what would happen after the funeral.  Believe me, the discussion will be cathartic and well received.

Consider reverse mortgages for you parents to allow them to stay in their homes. Consider refinancing now while rates are low.  If you have the means, help your kids buy a house while they can still get a tax credit.

For all these reasons and many more call Gordon, Mond & Ott, P.C..

Also, for those of you providing care as a caregiver, try reading The Caregiver’s Compass by Whiteside

~~~~~~~~~~~~~~~~~~

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C.  A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business.  Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN,  the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Strive to be a “10″ in 2010 and you will be.

Barry Gordon

YOUR LEGAL TEAM CAN ROOT OUT WHAT’S HIDING BEHIND A PARTNERSHIP DISSOLUTION

By Barry Gordon,
Attorney at Law
bgordon@gmo-law.com

When dissolving any kind of partnership, division of assets may seem to be the major issue;  and while the net proceeds are the measurable outcome of a divorce or business break-up, and often define “who won,” there are no winners in a lengthy and contentious battle.

What gets lost in the process are emotional energy, relationships, self-esteem, sleep, and very often one’s health.  We are available, as your lawyers, to work through these issues — with the assistance of other professionals on an as-needed basis.  While you may be thinking only of the short term legal costs, you are really using our experience and expertise to leverage your future!

The irony of most partnership dissolutions is that while everyone trains their focus on financial issues, this rarely serves as the root of the argument.  More often it is about betrayal and the feeling of being let down by someone once trusted.  Sometimes it is about jealousies -– some of which date back decades, even as far as childhood and sibling rivalries!  Other times it’s an emotional attachment to an object of little financial value, but which represents something significant in the life of one of the parties.  Even if someone gets the amount of money they feel they are owed, the other issues don’t go away, and in fact, they may get worse.

In difficult times, you need more than straight legal representation.  You need someone to help you hold it all together.  You need someone with a seasoned team of experts at the ready.  As one of our clients said, “You were the firm anchor who held us on the mooring wave, after wave, after tsunami!”

If you are going through a difficult legal situation and would like help moving on with your life, please call me.  I am good at helping you hold it together.

~~~~~~~~~~~~~~~~~~

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C.  A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business.  Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN,  the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Strive to be a “10″ in 2010 and you will be.

Use Your GMO-GPS to Guide Your Current Status Review

Gordon, Mond & Ott, P.C. is your GPS for the New Year, the new decade. Start the decade with simple resolutions:

1. Don’t sweat the small stuff.
2. Make a list of the three most important issues to tackle this year and rank the three issues in terms of importance to complete. Any more than the three will be overwhelming.
3. Where you need professional assistance, get the best you can get.

Gordon, Mond & Ott, P.C. has combined legal experience of more than one hundred years. When you feel overwhelmed and alone call us, so we can work with you to get you on the right track for the new decade.

With regard to your personal life, make sure your insurance coverage (health, life and disability) are up-to-date. If you changed your marital status, make sure the people you want to benefit are named correctly as your life insurance, 401(k) and IRA beneficiaries.

Make sure that you have a homestead on your home.

With regard to your business, are you incorporated? Are you in the right type of corporate entity? Have you confirmed all your corporate actions with votes of shareholders and directors, and more importantly, have you made a business plan for 2010 (and beyond)?

Do the individuals who do your books give you all the information you need? Many businesses are experiencing embezzlement and theft. Does it seem like you should have more money in your account, or is an employee spending more than you expect that he or she should be able to spend?

Have you shopped around for insurance costs? Have you asked your landlord if a rent modification can be achieved?

Call Janet LaBerge of Dirty Deeds (Done Dirt Cheap) to help you get rid of things you do not need and other people can use. Get a teeth whitening or laser makeover with the help of Patty Funder — and finally, make a donation to the SSWBN Educational Foundation.

Barry Gordon is an attorney in Quincy, MA who is President of Gordon, Mond & Ott, P.C. A graduate of Northeastern University and Boston University School of Law, he represents families, businesses and financial institutions. His concentrations include real estate and business. Barry is a member of the Massachusetts Bar, the Florida Bar, SSWBN, the South Shore Chamber of Commerce and the Art and Business Council of Boston.

Strive to be a “10″ in 2010 and you will be.