Attorney Terry Mond has been practicing law since 1978 and joined Gordon, Mond and Ott in 1986. An expert in the area of taxation, he was previously a tax specialist at Thornton and Company, CPA's. He believes that his background in this area is an asset when it comes to Estate Planning and Succession Planning. "Understanding and weighing the tax implications of each decision is critical," he says. And anyone with significant assets needs a solid estate plan. "Heirs can still contest a will in court, but, with a tight document, and a well documented process, their likelihood of success is very low." A member of The Boston Estate Planning Council, Terry also teams up with other professionals to provide advice about things like insurance, and its role in estate plans. "If a client wants to help heirs cover estate taxes, they, or the heirs, can purchase life insurance on the client to pay those taxes. And, from a corporate perspective, in a company where loss of the owner or a partner can negatively affect the business, or result in significant costs, life insurance can help offset both potential losses and expenses," he says. He also handles probate administration.
Terry is a member of the National Academy of Elder Law Attorneys and can help clients with Medicaid (long term care planning) and all other aspects of elder law including Living Wills, Health Care Proxy, and Durable Power of Attorney.
With his background in a CPA firm and years of legal experience, Terry is well-equipped to help clients with Corporate Formation (corporations, partnerships and LLC's), and business operations including stockholder agreements and business contracts.
What differentiates Terry from many other attorneys is his "concerted effort to explain in non-technical language exactly what he is recommending and why. I provide as much detail as a client wants to hear. This gives clients a much-needed level of confidence going forward."
Terry has been married for 27 years and has two daughters, and a dog named "Tracy." He enjoys golf, scuba diving, and tennis.