Remarriage is an exciting new chapter in life, but it also brings unique estate planning challenges. If you have children from a previous marriage and/or substantial assets, taking proactive steps ensures your loved ones receive the protection they deserve. Updating Beneficiary Designations Even if you do not have a full estate plan in place, you … [Read More]
Incapacity Planning: Consider the Potential Impact of Alzheimer’s Disease
Everyone is aware of the existence of Alzheimer’s disease, but a lot of people do not fully understand the threat that it poses. We all know that Alzheimer’s causes dementia, but it is also the sixth leading cause of death in the United States. Let’s look at the impact from an elder law and incapacity … [Read More]
How Can a Special Needs Trust Trustee Use the Funds?
A special needs trust can make the life of a person with a disability much more comfortable, and the trustee has wide latitude with regard to the nature of the expenditures. We will provide the details here, but first, we will share an overview to provide context. Need-Based Benefits Clearly, people with ongoing health challenges … [Read More]
Estate Planning: When a Will Is Not Enough
A will serves an important purpose, but it does not cover every aspect of estate planning. It directs how assets should be distributed after death, but there are limitations and drawbacks. The simple will does not avoid probate, provide financial protection during incapacity, or offer control over how beneficiaries receive their inheritances. A more comprehensive … [Read More]
How Can I Include a Minor Child in My Estate Plan?
Providing for a minor child in your estate plan requires more than simply naming them in a will. While a will allows you to designate a guardian, it does not provide financial oversight or structured distributions. A well-crafted estate plan ensures that your child’s inheritance is protected and managed responsibly until they reach adulthood. A … [Read More]
New Survey Reveals Widespread Estate Planning Neglect
A recent survey by Caring.com reveals that estate planning remains a low priority for many Americans. Despite the importance of preparing for the future, only 24% of adults have a will, leaving their families vulnerable to unnecessary complications. Many respondents cited procrastination, a belief that they do not have enough assets, or uncertainty about how … [Read More]
Blended Family Estate Planning: Avoiding Conflicts
Blended families bring unique challenges to estate planning. When children from previous relationships, step-siblings, and multiple financial interests are involved, the potential for disputes increases. Without a well-structured plan, state laws determine asset distributions, which may not reflect your intentions. Careful blended family estate planning helps prevent misunderstandings and protects all family members. Open Communication … [Read More]
Estate Planning Success: What You Should and Shouldn’t Do
Creating an estate plan is essential to protecting your assets and providing for your loved ones. Without a solid plan, your wishes may not be carried out as intended, and your family could face unnecessary legal complications. Understanding what to do and what not to do helps you develop an effective strategy that meets your … [Read More]
Are You Aware of Ancillary Probate?
A lot of people don’t understand the complications that arise when you use a will as an asset transfer vehicle. The executor who is named as the administrator cannot act independently after the passing of the decedent. Under Connecticut state laws, the will would be admitted to probate. Court Supervised Estate Administration Probate is a … [Read More]
Effective Inheritance Planning for Cryptocurrency Holders
Cryptocurrency has become a significant asset class, but many investors overlook the complexities involved in passing it to heirs. Traditional inheritance planning methods may not account for the unique challenges associated with digital assets. Without a clear plan, your cryptocurrency holdings could become inaccessible, lost forever, or subject to legal disputes. Taking proactive steps ensures … [Read More]
( By appointment only )