Attorneys
Worcester
Worcester
The Guaranty Building
370 Main Street, 12th Floor
Worcester, MA 01608
Framingham
Framingham
The Meadows
161 Worcester Road, Suite 501
Framingham, MA 01701
Cape Cod
Cape Cod
1597 Falmouth Road
Centerville, MA 02632
Medfield
Medfield
Olde Medfield Square
266 Main Street, Bldg. 2, Suite 15A
Medfield, MA 02052
New Bedford
New Bedford
651 Orchard Street, Suite 107
New Bedford, MA 02744
Providence
Providence
1 Richmond Square, Suite 303N
Providence, RI 02906
Boston
Boston
12 Post Office Square, 6th Floor
Boston, MA 02109
Hudson
Hudson
69 Main Street
Hudson, MA 01749
Practice Areas
Niche industries
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Cannabis & Breweries
Cannabis & Breweries
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Closely Held and Family-Owned Businesses
Closely Held and Family-Owned Businesses
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Condominiums
Condominiums
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Medical & Dental Practices
Medical & Dental Practices
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Private Foundations
Private Foundations
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Real Estate Developers
Real Estate Developers
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Restaurants
Restaurants
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All Industries
  • Multiple Dates

Estate Planning Webinar

Please join Fletcher Tilton Tax Attorney and Certified Elder Law Attorney Michael T. Lahti for an informative webinar. In the comfort of your own home or office, you will learn why some wills do not work, even when drafted correctly.  Details for the next upcoming date.

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  • Multiple Dates

How to Administer a Special Needs Trust

This annual training and update for Parents, Trustees and Successor Trustees of Special Needs Trusts and OBRA ‘93 Trusts has been reconfigured into a three-part series of evening webinars to accommodate these unusual times.  Details for the next upcoming date.

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  • Tue. Nov. 17, 2020
  • 6:00-7:00 PM
 

Thrive Support & Advocacy Virtual Workshop

Fletcher Tilton attorney Theresa Varnet, M.S.W., J.D. will speak about ABLE Accounts with 1st and 3rd Party Special Needs Trusts.

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View Past Seminars

Articles

The CARES Act: What Business Owners Need to Know - PART 2

By Elena J. Despotopulos on April 7, 2020
As promised, here is an important update regarding the Paycheck Protection Program (PPP) component of the CARES Act.

The Treasury has updated PPP loan information with more details and specifics regarding businesses that are excluded from consideration, primarily related to criminal activity. Below are the most notable updates:

Interest rate is fixed at 0.50%

Maturity is 2 years

Forgiveness:
  • Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs
  • Applicants have until June 30, 2020 to restore full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020 to avoid a reduction in forgiveness
When to apply:

  • Starting April 3, 2020 small businesses and sole proprietorships can begin applying and receiving loans through existing SBA lenders
  • Starting April 10, 2020 independent contractors and self-employed individuals can apply for and receive loans through existing SBA lenders
  • Additional lenders will be approved and available to make these loans soon.
  • While the program is open until June 30, 2020 it is suggested that applicants apply ASAP. Even $349 billion is a finite amount!
The application includes further restrictions, and the loan will NOT be approved if any of the following are true:
  • The business or any of its owners is presently suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded from participating in the transaction by any Federal department or agency, or is presently involved in any bankruptcy;
  • The business, any of its owners, or any business owned or controlled by any of them is delinquent or has defaulted in the last 7 years--and caused a loss to the government—on a direct or guaranteed loan obtained from the SBA or any other federal agency;
  • Any owner with 20% or greater interest in the business (or an applicant who is an individual) is presently subject to indictment, criminal information, arraignment, or other means by which formal criminal charges are brought in any jurisdiction, or is presently incarcerated, on probation or on parole;
  • Any owner with 20% or greater interest in the business (or an applicant who is an individual) has been convicted, pleaded guilty, pleaded nolo contendere, been placed on pretrial diversion or been placed on any form of parole or probation (including probation before judgment) within the last 7 years for any felony or misdemeanor for a crime against a minor;
  • Any owner with 20% or greater interest in the business (or an applicant who is an individual) is not a US citizen or Lawful Permanent Resident.
The Treasury fact sheet is available here.

Additionally, the application is available here.


©2020. This material is intended to offer general information to clients and potential clients of the firm, which information is current to the best of our knowledge on the date indicated below. The information is general and should not be treated as specific legal advice applicable to a particular situation. Fletcher Tilton PC assumes no responsibility for any individual’s reliance on the information disseminated unless, of course, that reliance is as a result of the firm’s specific recommendation made to a client as part of our representation of the client. Please note that changes in the law occur and that information contained herein may need to be reverified from time to time to ensure it is still current. This information was last updated March 2020.
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