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HISTORICALLY LOW INTEREST RATES  AND  THE TAX RELIEF ACT OF 2010
PROVIDE UNIQUE TAX SAVINGS OPPORTUNITIES FOR A LIMITED TIME

Pabian & Russell, LLC is pleased to announce that six of our attorneys have been included on the annual Massachusetts Super Lawyers® and Rising Stars list appearing in the November 2011 edition of New England Super Lawyers and Boston Magazine.

Please join us in congratulating:

Jay M. Pabian

Robert M. Russell, Jr.

Karyn M. Ellinger

Steven M. Carr

Lara A. McKenna

Sarah M. Allen

This year, in addition to inclusion on the 2011 Massachusetts Super Lawyers list, Jay M. Pabian and Robert M. Russell, Jr. have also been selected for inclusion on the 2011 Top 100 Lawyers in Massachusetts list.Jay M. Pabianwas also selected for inclusion on the Top 100 Lawyers in New England list. 

We are also pleased to announce that this is the fourth year in a row that Jay M. Pabian, Robert M. Russell, Jr., Karyn M. Ellinger, and Steven M. Carr have been included on the annual Massachusetts Super Lawyers and Rising Stars list.

Super Lawyers selects attorneys using a rigorous, multiphase rating process.  Peer nominations and evaluations are combined with third party research.  The attorneys listed in Super Lawyers are limited to 5% of the total lawyers in Massachusetts.  The attorneys listed in Rising Stars are limited to 2.5% of the outstanding emerging lawyers in Massachusetts who are age 40 and under, or have been practicing for 10 years or less.  The Massachusetts Super Lawyers and Rising Stars list appears in the November 2011 issues of New England Super Lawyers and Boston Magazine.

For more information on Massachusetts Super Lawyers, visit www.superlawyers.com/massachusetts.
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FEDERAL TAX LAW ENACTED DECEMBER 17, 2010

CREATES LIMITED GIFTING OPPORTUNITIES

THAT REQUIRE ACTION BY DECEMBER 31, 2010

Federal transfer tax laws enacted last Friday, December 17, 2010 afford certain limited gifting opportunities for individuals who are contemplating significant lifetime gifts to grandchildren or more remote descendants and are willing to implement gifting strategies prior to December 31, 2010.  

Under the new law, the federal estate tax exemption is $5 Million per person for 2010, 2011 and 2012.  The federal gift tax exemption remains at $1 Million for 2010, but jumps to $5 Million on January 1, 2011 and remains at that level through 2012.  Individuals considering taxable year-end gifting this year may wish to delay such gifts until next year, since transfers this year in excess of $1 Million will trigger a gift tax at a rate of 35%, payable on April 15, 2011.

The generation-skipping transfer (“GST”) tax is reinstated under the new law.  The GST exemption for 2010, 2011 and 2012 is $5 Million; however, in 2010 the GST tax rate is 0%.  Next year, the GST tax rate will be 35%.  Individuals contemplating significant lifetime gifts to grandchildren or more remote descendants should consider the following opportunities that will only be available until December 31, 2010:

• For those individuals who have not yet used their lifetime gift exemption, taxable gifts to grandchildren or more remote descendants, either outright or to certain properly-drafted trusts, up to $1 Million per donor, will not trigger any current transfer taxes (gift or GST) and will not reduce the donor’s $5 Million GST exemption available next year.

• Significant gifts to grandchildren or more remote descendants (in excess of $5 Million per donor) outright or to certain trusts will not be subject to GST tax and those gifts will not reduce the donor’s GST exemption available next year.  Such gifts will, however, trigger a gift tax payable on April 15, 2011.

Consideration should also be given to making distributions before December 31, 2010 from multi-generational trusts that are not fully-exempt from GST tax:

• Trustees of trusts funded with proceeds from successful GRATs or other advanced planning strategies should consider distributions to grandchildren or more remote descendants, or to further trusts for their benefit, since such distributions will not be subject to GST tax this year.

Please contact us as soon as possible if any of these strategies are applicable to your situation.  We realize that you have a very short time to act if you wish to implement any of the above strategies, due to the fact that this new law was enacted just last week.  We will issue a more comprehensive advisory on the new law and its impact on planning in 2011 and 2012 shortly after the New Year.

Best wishes to you and your family for a happy holiday season.

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July 22, 2010- Pabian & Russell, LLC sponsors and will run in the 10th Annual Thompson Island Outward Bound Education Center's 4k Trail Run

Pabian & Russell, LLC is an official Race Sponsor at this year’s Thompson Island 4k Trail Run!  Proceeds from this event directly support the programs Thompson Island Outward Bound Education Center provides to more than 6,500 students from greater Boston each year.  By using challenging outdoor activities and the natural resources of Thompson Island, the Outward Bound Center provides educational programs that help youth develop self-confidence, leadership and social responsibility skills, as well as improve academic achievement. 

All Firm members will be running, jogging, and/or walking for this great cause! The 4K Trail Run will be held on September 23, 2010.  Please see the Thompson Island website if you are interested in participating in this event.
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June 8, 2010- Pabian & Russell, LLC to volunteer at the 28th Annual Jimmy Fund Scooper Bowl presented by FedEx

For the fifth year in a row, firm members will be volunteering at the annual Jimmy Fund Scooper Bowl!  Come and visit us on Thursday, June 10, between 2:00pm and 5:30pm at City Hall Plaza in Boston where we will be scooping your favorite flavors.  The all-you-can-eat ice cream festival includes ice cream, sorbet, frozen yogurt and gelato from Baskin' Robbins, Ben & Jerry's, Breyers, Garelick Farms and many more!  All proceeds support cancer care and research for adults and children at Dana-Farber Cancer Institute. You can find out more information on our Community page. We hope to see you on the 10th!

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March 1, 2010- Pabian & Russell, LLC participates in 1st Annual Massachusetts Legal Food Frenzy 

We are pleased to announce Pabian & Russell, LLC’s participation in the First Annual Massachusetts Legal Food Frenzy!  This is a benevolent competition within the legal community to raise funds and collect food to support The Greater Boston Food Bank.  All proceeds will benefit hungry families across eastern Massachusetts and support the critical mission to relieve hunger in our area. 

The goal for the 2010 Legal Food Frenzy, which will run from March 1- March 12, 2010, is to bring in 500,000 pounds of food (or its equivalent in monetary donations).  This event is sponsored by the Office of the Attorney General of Massachusetts and the Greater Boston Food Bank. 

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