There are some Latin terms used in the legal field to describe certain processes, and you will see them in wills and trusts. In this post, we will look at the terms per capita and per stirpes as they apply to beneficiary succession. Death of a Beneficiary If a person that you have named as … [Read More]
Five Overlooked Benefits Living Trusts Provide
There are a few major benefits that living trusts provide that are widely publicized. One of them is the fact that the administration of a living trust takes place outside of probate. A will would be admitted to probate, and there are some negatives that go along with the process. Probate expenses absorb a portion … [Read More]
Estate Planning for Generation Y
Millennials are part of Generation Y, and at this point, they are between 25 and 40 years of age. Less than 30 percent of people in this age group have estate plans in place according to a survey that was conducted by Caring.com. The unprepared individuals are taking risks, and it is one thing if … [Read More]
Engage an Attorney During the Living Trust Administration Phase
If you look at a simple will next to a revocable living trust, you will see that there is really no comparison. A living trust is more effective on a number of different levels, and we will provide an overview before we focus on the importance of legal counsel. Living Trust Benefits When a will … [Read More]
Has Your Property Appreciated? Estate Taxes May Be a Factor
Housing prices have been the talk of the investment community over recent years. Buyers are having a hard time closing deals because of a supply and demand dilemma. In some areas, people are actually offering significantly more than sellers are asking, so this is bull market. We have an office in Westport. In Fairfield County, … [Read More]
Three Key Estate Planning Tips
Estate planning can seem like a complicated matter, and there are intricacies and some complicated devices. This being stated, there are some basic tips that you can digest to gain a fundamental understanding of the process, and we will provide three of them here. Don’t assume a will is the appropriate asset transfer device. A … [Read More]
Why Would a Trust Be Preferable to a Will?
You may equate estate planning to the creation of a will, but there are other options. In many cases, a trust of some kind will be preferable, and we will look at some of these scenarios in this post. Special Needs Planning Most people with disabilities rely on Medicaid for their health insurance, and individuals … [Read More]
Follow These Steps to Get Through Probate
If someone asks you to be the executor of their estate, you are naturally going have questions if you have no knowledge of the process. In this post, we will break it down to some simple steps to give you an idea of the tasks that must be completed along the way. Produce the Document … [Read More]
Five Unusual Trusts Demystified
There are many different trusts that can be used when you are devising your estate plan. A layperson would have no reason to understand all the options that exist, and this is why legal counsel is invaluable. We endeavor to explain the various devices that can be utilized, and in this post, we will demystify … [Read More]
The Tax Man Cometh: Adjust Your Estate Plan Now
The pandemic has forced many people to put some non-essential responsibilities on the back burner. This holding pattern may apply to your periodic estate plan review, but it is now time for action. If you know that a revision is necessary because of a life change, we are here to help, and general reviews are … [Read More]
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