Tomassi Law, LLC

Rhode Island has enacted a new law regulating real estate wholesaling, effective January 1, 2027. The law applies to people who, more than once in a 12-month period, secure, negotiate, or facilitate the sale of real estate to assign an equitable interest for financial gain. Key requirements include: - A valid, active Rhode Island real estate license for wholesalers who do not qualify for an existing statutory exemption. - Written disclosures regarding the intent to assign the contract. - A non-waivable three-business-day cancellation right for sellers and buyers in covered transactions. - Monetary penalties for violations. For investors, buyers, sellers, and real estate professionals, the practical takeaway is documentation and timing. Contracts, assignment language, disclosure forms, and cancellation mechanics should be reviewed before a deal moves forward. Tomassi Law, LLC provides contract review, negotiation guidance, and title and closing services for Rhode Island investors, wholesalers, private lenders, buyers, and sellers. Closings are available in English and Spanish. Learn more at www.attorney-ri.com. This post provides general information only and is not legal advice. Every transaction is different. Consult a qualified attorney regarding your specific circumstances.

A contested will or trust can lead to costly, slow litigation and lasting family strain. For Rhode Island families, reducing that risk starts with thoughtful planning and clear documents. Disputes may arise from ambiguous terms, unexpected or unequal distributions, concerns about capacity or undue influence, poorly documented decisions, conflict between siblings or a surviving spouse and children, or disagreements over trustee selection and decisions. Careful planning can help: - State intentions precisely and consider a no-contest clause where appropriate. - Document capacity and independent decision-making, especially when health concerns are present. - Choose a professional, neutral fiduciary when family dynamics are strained. - Use a letter of intent to explain unequal distributions, and involve beneficiaries where appropriate. - Keep beneficiary designations and asset titles aligned with the plan, and update documents after major life events. Prevention during drafting is often more effective than trying to resolve conflict through litigation later. For personalized guidance, contact Attorney Jared Tomassi at www.attorney-ri.com. This post is for general educational purposes only, not legal advice. The outcome of any dispute depends on the documents, facts, and applicable Rhode Island law.

Could the person selling a property actually be an impostor? ALTA research found that 59% of title companies reported at least one seller impersonation fraud attempt in 2025, more than double the prior year. In this scheme, a fraudster poses as a property owner, often targeting vacant land, vacation homes, or property owned from out of state. Using public records or intercepted mail, they may try to sell the property to an unsuspecting buyer or redirect closing proceeds to a fraudulent account. Watch for warning signs: - An out-of-state seller who insists on remote-only communication - Pressure to close quickly or an unexplained sharp price reduction - Notarization concerns or requests to change wire instructions Pause and verify concerns through a trusted contact method you independently confirm. An experienced closing attorney and licensed title insurance producer can help verify identity, confirm the seller is the record owner, and assess title insurance coverage. Coverage is subject to policy terms. Tomassi Law provides English- and Spanish-language closing services for Rhode Island buyers and sellers. Learn more at www.attorney-ri.com This post is general information, not legal advice. Consult an attorney about your specific circumstances.

Your home may be worth considerably more than it was when you last updated your estate plan. Cotality reports Rhode Island home prices are up about 5.09% year over year, among the strongest gains in New England. As home equity grows, it may be a good time to review whether your will, trust, Medicaid planning strategy, and beneficiary designations still reflect your family’s circumstances and wishes. Changes in property values may also make it worthwhile to revisit how Rhode Island estate tax considerations fit into your overall plan. A thoughtful review can help keep your plans aligned with the assets you have today and the legacy you want to leave. Tomassi Law provides experienced, personalized estate planning guidance to Rhode Island families. Learn more at www.attorney-ri.com. This post is for general informational purposes only and is not legal or tax advice. Every situation is different; consult a qualified professional about your specific circumstances.

A lower asking price does not automatically mean an easier path to closing. The details between the agreement and the closing table still matter. In September 2026, Rhode Island’s average listing prices were down approximately 3.87% year over year for the first time, while inventory continued to build gradually and the median sale price held near $525,000. That difference can create friction during a transaction. An appraisal may come in below the agreed price. Buyers and sellers may need to discuss an appraisal gap, inspection findings, or repair credits. Financing contingencies can take longer, and properties may spend more days on the market. When terms change, make sure every agreed change to the price, credits, or deadlines is documented in writing. If a renegotiation or addendum could affect contract deadlines, rights, or the ability to close, involve the closing attorney early so the appropriate documents and timing can be reviewed. Tomassi Law provides English and Spanish closing services for Rhode Island buyers and sellers. Learn more at www.attorney-ri.com. This post is for general informational purposes only and is not legal or financial advice. Every transaction is different; consult appropriate professionals about your circumstances.

When no lender’s checklist exists, the transaction still needs one. In a financed purchase, the lender typically drives title, insurance, payoff, and closing requirements. In a cash, private-money, hard-money, or assignment transaction, the parties must build that discipline themselves. Before closing, confirm: - The vesting entity is correct and authorized to take title, whether an LLC, trust, or individual. - Assignment terms are documented clearly, including who has authority to assign and who must sign. - There are no gaps in insurance coverage, and the correct insured parties are included. - Any prior private loan is properly paid off, with documented payoff figures and lien releases. - Funds are verified, wire instructions are independently confirmed, and wire-fraud precautions are followed. - The deed is prepared accurately and recorded properly after closing. These details matter to Rhode Island investors, wholesalers, private and hard-money lenders, and the real estate professionals who work with them. A transaction can move quickly without skipping the safeguards that protect ownership, funds, and enforceability. Tomassi Law, LLC provides experienced guidance for cash purchases, private lending, hard-money transactions, wholesale deals, assignments, title matters, and closings. English and Spanish closing services are available. Learn more at www.attorney-ri.com. This post is for general informational purposes only and is not legal advice. Every transaction should be evaluated based on its specific facts. #RhodeIslandRealEstate #PrivateLending #HardMoney #RealEstateInvesting #AssignmentDeals

Rhode Island’s new radon law will affect residential real estate closings beginning June 1, 2027. For purchase and sale agreements executed on or after that date, a radon test will generally be required before closing. - The test must be completed no earlier than one year before closing by a certified or licensed individual. - An unsafe result is above the EPA action level of 4.0 picocuries per liter. - If the result is unsafe, mitigation must be completed before closing when possible. Otherwise, the estimated mitigation cost must be held in escrow until the work is completed. - Results must be provided to the buyer, seller, and any lender designated by the buyer. Planning a Rhode Island purchase or sale? Tomassi Law, LLC provides closing and title services in English and Spanish. Visit www.attorney-ri.com to learn more. This post provides general information only and is not legal advice.

Estate planning demand is surging. Recent reporting indicates estate planning is now the single most common reason Americans contact a lawyer, representing roughly 1 in 6 legal inquiries, up from about 1 in 9 a decade ago. Trust-related questions have reportedly grown roughly sevenfold over the same period, driven in part by the coming transfer of wealth to the next generation. For Rhode Island families, this means more questions about revocable and irrevocable trusts, keeping assets out of probate, planning for incapacity, and leaving a clear legacy for heirs. The right plan may include a last will and testament to express your wishes, a revocable trust for flexible management of assets, an irrevocable trust for certain specialized planning needs, a durable power of attorney for financial decisions, a healthcare power of attorney for medical decisions, and a living will for end-of-life preferences. For 20 years, Tomassi Law has guided Rhode Island families through wills, trusts, powers of attorney, and healthcare directives with practical, affordable planning and clear communication. We offer English- and Spanish-language support because every family deserves trusted guidance. Learn more at www.attorney-ri.com. This post provides general information only and is not legal advice. Every estate plan should be tailored to individual circumstances.

Trust administration after a grantor’s death is where complexity often begins. The practical work extends far beyond simply following the trust’s instructions. Key administration issues may include: - Securing trust assets, applying for the trust’s taxpayer identification number when required, and confirming the controlling trust agreement, schedules, and amendments. - Marshaling and valuing assets while determining what belongs to the trust and what remains probate property or part of the decedent’s estate. - Maintaining detailed accounting records, allocating receipts and expenses between income and principal, preparing trust income tax filings, and coordinating with the personal representative and estate professionals. - Distinguishing mandatory distributions from discretionary distributions and applying the correct standard to each beneficiary. - Administering continuing trusts, sub-trusts, and lifetime-beneficiary trusts created at death, where the trustee’s responsibilities may continue across multiple generations. - Managing trust-owned real estate, business interests, and investments in accordance with the trust terms and prudent-investor standards. - Identifying conflicts and self-dealing risks, particularly when a family trustee is also a beneficiary, and documenting decisions, valuations, notices, and beneficiary accountings. Errors can lead to disputes, tax problems, removal, surcharge claims, or personal fiduciary liability. Depending on the circumstances, mistakes may also limit protections provided by the trust document or applicable law. Trustees often benefit from engaging trust counsel and an accountant early, not after a problem develops. Grantors should also address successor-trustee planning and provide clear administrative instructions while documents are being drafted. Attorney Jared Tomassi can help Rhode Island families plan for and address complex trust administration matters at www.attorney-ri.com. This post is general education only. Trustee duties and administration depend on the specific trust document and Rhode Island law. It is not individualized legal, tax, or financial advice.

Long-term care planning is not only a Medicaid question. It is a cost-of-care strategy. Care may be paid for through several sources, used in sequence or combined: - Personal savings, retirement income, and other available resources. - Home equity, depending on the family’s goals and circumstances. - Traditional long-term care insurance. - Hybrid life insurance or annuity policies with a long-term-care rider. - Veterans’ benefits, where applicable. - Family caregiving arrangements supported by clear, written personal-care or caregiver agreements. - Medicaid as a later-stage payer when eligibility rules are met. Medicare generally does not pay for ongoing custodial long-term care. The setting also matters. Home care, assisted living, and skilled nursing can create very different cost profiles and planning considerations. Planning while health and capacity are still good may preserve more options, including the ability to obtain insurance while an applicant is still underwritable. Waiting until a crisis can limit choices, increase pressure on family members, and make coordinated planning more difficult. A thoughtful plan should connect care funding with the broader estate plan and include family communication about who may help, how decisions will be made, and how caregiving responsibilities will be documented. Schedule a personalized consultation with Attorney Jared Tomassi at www.attorney-ri.com. This post provides general education only. Eligibility rules and coverage vary. It is not individualized legal, tax, insurance, or financial advice.