1031 Exchanges and Vacation Homes – What you need to know.

With it being vacation season when many people gather with families and friends at their vacation property, owners often wonder what they can do to address the tax ramifications of their vacation property should they decide to sell. Vacation property, especially those on Cape Cod and other high demand vacation spots, appreciate quickly and with that owners become concerned about the capital gain tax consequences upon the sale of the property. In other instances, real estate investors want to consider using proceeds from the sale of investment real estate to acquire a vacation or second home, utilizing the profits from the sale to defer the taxes. Over the last forty years, there has been some changes as to whether vacation property could be subject to a 1031 exchange – this article will detail the history and the state of the law in 2023 on vacation property 1031 exchanges so that

Orsi Arone Rothenberg and Turner, LLP Congratulates our Partner, Bob Orsi, on his Retirement

Orsi Arone Rothenberg and Turner, LLP congratulates our partner, Bob Orsi, on his retirement. We thank Bob for his many years of service to the firm and to our clients, and wish him a happy and healthy retirement. We at Orsi Arone Rothenberg Turner, LLP thank our clients for allowing us to continue representing them and know that our team will continue to deliver the high caliber legal representation that our friend and colleague Bob Orsi brought to the legal profession and our firm. We remain committed to Bob’s legacy of providing our clients with unparalleled experience, knowledge and professionalism in all matters. We also welcome Allison Lane, Esq. as the new chairperson of the firm’s real estate department. If you have any questions about a real estate matter or would like to schedule a meeting with Allison, please reach out to the firm at 781-239-8900, or by email directly

Attorney Allison R. Lane Joins Orsi Arone Rothenberg Turner, LLP to Lead Real Estate Practice

“We are excited to welcome Allison to lead our real estate and business law practice and have her wealth of experience and expertise in commercial and residential real estate in a continued tradition of excellence for our clients.” – Rob Arone Attorney Allison R. Lane has over twenty-five years of experience in real estate, finance, and business law. She has a strong background in complex commercial real estate and has represented commercial lenders in high value financing transactions, including drafting loan documents, contracts and leases, and conducting due diligence. Her experience includes a wide range of knowledge and skill in commercial and residential real estate transactions and commercial lending. She has worked with many clients ranging from individuals to nonprofits to for-profit institutions. Allison has extensive knowledge and experience in the areas of condominium law as well as complex title and survey matters. She has also represented both lenders and

Estate Planning Pop Quiz

Posted by Robert L. Arone August means school is back in session or just around the corner, signaling the return of new school supplies, homework, and pop quizzes. Try your hand at this estate planning pop quiz to see if your knowledge of estate planning makes the grade. Question #1: True or false? The only people involved in an estate plan are the client and the estate planning attorney who drafts the documents. Answer: False. Many advisors such as financial planners, certified public accountants (CPAs), and insurance agents play an important role in the estate planning process. For example, one of the first steps in creating an estate plan is understanding what property the client owns. This may include tangible property such as real estate, vehicles, and collectibles, as well as intangible assets such as retirement accounts and insurance policies. A client’s advisors can help the estate planning attorney understand everything the client owns

Your Role in a Client’s Summertime Family Gathering

Posted by Robert L. Arone Along with warmer weather and lazy days spent at the pool, summertime also often includes a family gathering, such as a Fourth of July barbecue, a family vacation, a reunion, or time spent at a family cabin or lake house. Whatever the form, in our always-on-the-go society, getting the whole family together is a rare occurrence. Clients should take advantage of this time together to discuss their estate and financial wishes with their families. As an advisor, you can help facilitate and encourage this discussion in the following ways. Meet Your Client’s Trusted Decision Makers Now You can encourage a client to discuss their estate and financial plans with their family by offering to meet with your client and their trusted decision makers now. Clients often select adult children to act in trusted decision-making roles, such as a successor trustee, executor or personal representative, or

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1031 Exchanges and Vacation Homes – What you need to know.

Orsi Arone Rothenberg and Turner, LLP Congratulates our Partner, Bob Orsi, on his Retirement

Attorney Allison R. Lane Joins Orsi Arone Rothenberg Turner, LLP to Lead Real Estate Practice

Estate Planning Pop Quiz

Your Role in a Client’s Summertime Family Gathering

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Trusted Legal Resources

1031 Exchanges and Vacation Homes – What you need to know.

Orsi Arone Rothenberg and Turner, LLP Congratulates our Partner, Bob Orsi, on his Retirement

Attorney Allison R. Lane Joins Orsi Arone Rothenberg Turner, LLP to Lead Real Estate Practice

Estate Planning Pop Quiz

Your Role in a Client’s Summertime Family Gathering

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How Can We Help?

© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

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