Page not found

We're sorry, the page you were trying to find does not seem to exist.

Full Article

The winner of a $15 million Massachusetts State Lottery prize has been announced but the full name won’t be released.

The lottery announced the Bonzo Family Revocable Trust 2022 of Cranston, Rhode Island has claimed the first $15 million prize in the Massachusetts State Lottery’s “15,000,000 Money Maker” instant ticket game. The trust was represented by trustee Stephen Levesque, Esq.

Massachusetts isn’t one of the at least nine states that allows lottery winners to remain anonymous but it can still happen.

Massachusetts allows lottery winners to create a trust. It then allows the trustee to be able to turn in the winning ticket, receive the check and then deposits it into a bank account set up for the beneficiaries.

“One of the most frequent pieces of advice new lottery winners get from others is to try as hard as possible to remain anonymous,” Baker Law Group’s website states. “If your name and photograph is published, there’s a strong chance you could find yourself quickly harassed with calls and requests for money.”

The law firm allows winners to text or call them to get things moving quickly.

For the Bonzo Family Revocable Trust 2022, Levesque opted to receive its prize in the form of a one-time payment of $9,750,000 before taxes.

The $15 million winning ticket was purchased at 7-Eleven in Fall River, which is located at 1099 William Canning Blvd. The store will also receive a $50,000 bonus for its sale of this ticket.

But the winners don’t remain completely anonymous.

Lottery spokesman Christian Teja previously told The Republican that the secrecy only involves the public. All members of a trust are required to be identified by the lottery for its internal records.

The lottery runs the names of those in a trust past other state agencies, including the state Department of Revenue, the Child Support Enforcement Division, Office of the State Comptroller and the Department of Transitional Assistance. The names of the winners are checked to see if they owe the state money for child support, income taxes, tuition and fees at state colleges, or Mass Health payments. If so, the amount owed is garnished from the winnings.

The $15 million prize ties for the highest prize won in Massachusetts this year.

The other prize was also claimed by a trust.

On March 31, the P.M. Investment Trust of Fall River, which was represented by trustee Joseph H. Silvia, claimed the $15 million prize in a one-time payment of $9,750,000. Silvia was then presented with a check for $6,922,500.

The ticket was for the instant ticket game “Massachusetts Millionaires’ Club.” It was sold at Correia & Sons Market in Somerset, which is located at 500 Read St. That store also received a $50,000 bonus for its sale of this ticket.

Bonzo Family Revocable Trust 2022 of Cranston, RI has claimed the first $15 million prize in the Massachusetts State Lottery’s “15,000,000 Money Maker” instant ticket game.

The trust, represented by trustee Stephen Levesque, Esq., opted to receive its prize in the form of a one-time payment of $9,750,000 (before taxes).

The winning ticket was purchased at 7-Eleven located at 1099 William Canning Blvd. in Fall River. The store will receive a $50,000 bonus for its sale of this ticket.

Even when real estate boundaries are well established, land disputes between neighbors are common. These disputes can become aggressive quickly, so it’s important to have a plan in place and an attorney to contact as quickly as possible. Here are a few tips for navigating and solving land disputes with neighbors.

Learn all the Facts

If a land dispute is inevitable, it’s always better to know as much as possible about the property boundaries in question at the outset of the controversy. A real estate attorney will need to have all the facts about the properties and the dispute before working on the case, so a professional analysis of the properties will be necessary. Analyses typically involve hiring a professional to survey and appraise the properties, as well as perform a full title search.

Try to Work it out

Litigation in land disputes is often time consuming and expensive. If the value and area of the property in question are insignificant enough, it’s probably in everyone’s best interest simply to work out the issue outside of the courtroom. Assuming relations between neighbors are friendly, meeting a few times to discuss the facts and reach a solution may be all that is required to solve the land dispute. On the other hand, if one or both neighbors are unwilling to discuss the issue politely, it will be quickly obvious that attorneys are needed.

Bring in an Attorney

When solving a land dispute becomes impossible due to uncooperative neighbors, it’s time to get a real estate attorney involved. The first step for a lawyer is usually to send a letter to the other neighbor to request action or to make a sensible settlement offer. If exchanging attorneys’ letters doesn’t resolve the dispute, it may be time to file an official complaint in court so that all the evidence can be examined. Remember, most land disputes end in settlements, and this may be the best option to avoid a lengthy and costly trial process.

If you’re experiencing a land dispute with a neighbor, please consult The Law Offices of Stephen P. Levesque as soon as possible. Our office has helped many clients reach their desired results in real estate, bankruptcy, divorce, estate planning, and other legal matters. We also provide services to handle easements, adverse possession, subdivision, and cases involving forced sales or partitions. For a free, no-pressure consultation, contact us online or call (401) 490-4900.

Real estate agents have a lot to worry about in their day-to-day jobs. Whether they’re working for the buyer or the seller, the client’s concerns are usually enough to keep a real estate agent occupied. When it comes time to close, there is nothing worse than seeing a sale evaporate because of legal problems. Working with a good real estate attorney can help avoid this issue and save the client money in the long run. Here’s what every real estate agent should understand about closing a sale and why it’s critical to bring an experienced real estate attorney on board.

Attorneys can Clear the Title

One of the major steps that must occur before a housing sale can be closed on is to ensure that there are no encumbrances on the property. Encumbrances can include tax liens, judgments, or claims to the title that may be held by others. A title search will help discover any of these problems during the closing process, but an attorney is the best party to address the issues so that they don’t derail the sale.

They are Seasoned Negotiators

A good real estate attorney can do more than just move paper around. Lawyers are trained to negotiate and can provide a very effective backup for a real estate agent should any problems arise during the closing. If the home inspection reveals any issues that give the buyer a reason to seek a lower price, for example, a lawyer can help negotiate the best way forward to help ensure the sale goes through.

They Provide Detailed Document Review

Another thing real estate attorneys are trained to do is review each and every document in detail. While real estate agents are familiar with escrow documents, it’s always a good idea to have an extra set of eyes to make sure that everything is in order. Minor mistakes that the average reader might skim right over can prove costly later on, and the cost of hiring a real estate attorney to double- and triple-check everything is pennies on the dollar compared to potential future liability.

The Law Offices of Stephen P. Levesque provides experienced and professional legal services for real estate transactions in Rhode Island. With over 20 years of experience in commercial and residential real estate, we can help mitigate some of the thornier issues that may come up in the closing process. Contact us for a consultation today.

According to Forbes, over half of all Americans don’t have even a basic estate plan in place. Although most people probably don’t think of making plans for their assets after death a priority, it’s an important consideration for adults of all ages and stages of life. An experienced estate planning attorney can help clients understand and organize living trusts and wills. While both documents serve the purpose of naming beneficiaries for property, they also have individual features that are useful.

Benefits of a Living Trust

The majority of clients that choose living trusts do so to avoid probate. This is the court process that a will must go through to allow distribution of assets by the executor. Living trusts make the process faster since the successor trustee does not have to go through the court. Instead, he or she pays the debts and distributes assets on their own according to written instructions from the original trustee. While drafting a living trust may involve a bigger up-front investment than drafting a will, the ability to avoid court often avoids an excess financial expense. A living trust allows the client to name someone to handle property in the event of incapacitation and can make the process of handling an estate, particularly a large one, easier for loved ones after death.

Benefits of a Will

For those with young children, a will is usually the more popular option. Although the execution of a will does require the probate court process, it is also unlike a living trust in that it allows clients to name guardians for young children and establish managers for the underage beneficiaries’ property. Additionally, those with little property or extensive debts may find a will to be a better option, as wills specifically instruct the executor on how to pay taxes and debts. Creating a will with an estate planning attorney is a much less complex process than drafting a living trust, and the investment may also be significantly less.

Trying to decide whether you need a living trust or a will? The Law Offices of Stephen P. Levesque, an experienced estate attorney, can help. We know how confusing the process can be. Rely on our guidance to help you make legal decisions with confidence. Contact us online or by calling (401) 490-4900 to schedule your consultation today.

Bankruptcy can be a viable solution for helping individuals and businesses eliminate or restructure debts that they can’t afford to repay. However, there are consequences. A bankruptcy can remain on credit reports for up to a decade, which makes getting a loan difficult. For some, the benefits outweigh the drawbacks, but it’s important to understand each type of bankruptcy before making a decision.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy can discharge most unsecured debts. Secured debts, including alimony, child support, taxes, and student loans, cannot be discharged. Chapter 7 bankruptcy can temporarily stop the foreclosure process, but debtors will need to catch up on their mortgage payments to avoid losing their homes. People whose income is above the state median may not qualify, and debtors choosing Chapter 7 won’t be able to file for this type of bankruptcy again for eight years. The process takes about four months to complete, and some assets may have to be sold to help repay creditors.

Chapter 13 Bankruptcy

Under Chapter 13 bankruptcy, debtors set up a payment plan to repay all or most of their debts. Payments will be made over three or five years. Most remaining unsecured debts will be discharged after the repayment period. This type of bankruptcy allows debtors to keep their assets. It can also put a stop to the foreclosure process, allowing past-due mortgage payments to be made through the repayment plan. There are no income limitations for Chapter 13 bankruptcies, but secured and unsecured debts can’t exceed certain amounts. This form of bankruptcy falls off of a debtor’s credit report after seven years and can be filed for again in two years. Individuals considering Chapter 13 bankruptcy should hire a bankruptcy attorney to help them submit their repayment plans in court.

Chapter 11 and Chapter 12

Two additional types of bankruptcy, Chapter 11 and Chapter 12, also seek to eliminate or restructure debt. Corporations and large businesses typically file for Chapter 11 bankruptcies; while farmers and fishermen generally choose Chapter 12 because of its higher debt limits, flexible repayment plans, and other benefits.

Are You Considering Filing for Bankruptcy?

Despite the prevalence of misinformation about bankruptcy, it can be a useful tool. If you’re looking for a way to restructure your debt, let attorney Stephen P. Levesque help you decide if bankruptcy is your best option. He can answer your questions, recommend a course of action, and help you navigate the legal process. To schedule a consultation, call The Law Offices of Stephen P. Levesque at (401) 490-4900 or contact us online.

Trusts are an integral part of estate planning for many individuals. Understanding the most common types of trusts offers insight into how these tools can be used to provide for future generations.

Revocable Trusts

With a revocable trust, the person who creates the trusts retains full control over the assets therein. He or she has complete freedom to change or cancel the trust. A revocable trust is sometimes called a “living trust.” This structure is often used to avoid probate, which can cause a lengthy delay of settling the individual’s estate. However, assets held within the trust are available to the creator’s creditors, if any.

Irrevocable Trusts

Irrevocable trusts transfer the assets to the trust beneficiary and cannot be controlled or revoked by the creator. One type of irrevocable trust, a life insurance trust, provides tax advantages when created to hold life insurance proceeds.

Minor Trusts

These trust funds are commonly established to save money for children and grandchildren. When the beneficiaries of the trust reach a certain age, they are often given the funds to use as they please.

Spendthrift Trust

This form of trust is managed by an independent trustee. He or she has the final say in how the funds are spent. This structure could be used to provide for a minor child without giving the child full control, for example.

Special Needs Trusts

An individual who is disabled or has special needs may rely on government benefits. A special needs trust allows this person to benefit from a loved one’s estate without losing government assistance.

Marital Trust

This type of trust is designed to protect assets and can be used to benefit from estate planning tax guidelines. When one spouse passes away, the other spouse receives the marital trust. Any remaining assets pass to children or other beneficiaries after the second spouse passes.

Rhode Island residents can rely on The Law Offices of Stephen P. Levesque for their estate planning needs. We can help create trusts and manage wills to ensure that an individual’s estate is administered in accordance with his or her wishes. Call (401) 490-4900 or contact us online to schedule a consultation.

Misinformation about bankruptcy is often repeated among those who don’t understand exactly how it works. Individuals who are struggling with debt should learn the facts when determining whether bankruptcy is a viable solution. These are the truths behind three common bankruptcy myths.

Bankruptcy Results in Complete Property Loss

Many people think they will lose their home, vehicles, and other assets if they file for bankruptcy. However, most individuals who file for bankruptcy keep their possessions, including any items essential to their daily lives. Valuable assets, such as luxury items, may be sold to settle a portion of the debt.

In Chapter 13 cases, the value of assets is weighed against the amount of debt when creating a court-approved repayment plan. However, an individual can opt to keep his or her car or home if payments can be made under the terms of the plan. A bankruptcy attorney can advise about this process.

Credit Will Never Recover After Bankruptcy

It’s possible to rebuild credit after a bankruptcy filing. Many individuals who file for bankruptcy can actually qualify for credit cards, car loans, and other forms of credit soon after the case is discharged. However, rates are typically higher than those offered to individuals with perfect credit. A bankruptcy remains on a person’s credit report for up to 10 years.

Bankruptcy is a Last Resort

Common wisdom suggests that debts should be paid even if an individual can no longer afford to do so and that bankruptcy should only be pursued in the absence of any other option. In fact, it can be advantageous to file for bankruptcy when compared to accruing interest, fees, and other costs associated with debt repayment. In general, a consumer should consider bankruptcy if he or she pays more than 50 percent of his or her annual income toward debt and the total amount of that debt will not be repaid within five years.

Families in Rhode Island who are considering bankruptcy can use the legal counsel of The Law Offices of Stephen P. Levesque to weigh their options. We can provide helpful resources and answer questions about the process. Call (401) 490-4900 or contact us online for a free, confidential consultation.