You may hear some people recommend payable on death or transfer on death accounts when you are planning your estate. Though they can serve a purpose, it is important to understand the fact that these accounts are not going to be a cure-all for most people. Speaking to an experience Hartford estate planning lawyer. [Read More]
Family Dynamic Is Important Consideration
There are a lot of things to consider when you are contemplating your legacy, and every family is different. Exactly how you go about planning your estate is going to vary depending on exactly what you want to accomplish, the extent of your assets, and the specific nature of your family. The reality is that … [Read More]
Death Tax Lurks Quietly
When you are a relatively young adult it is likely that you are very much focused on and engaged in the present. Long-term planning and legacy crafting may be the furthest things from your mind. As a result, you may not be aware of the fact that the estate tax even exists. The reality is … [Read More]
Be Wary Of Complimentary Estate Planning Advice
“I don’t know” and “I’m really not sure” are two phrases that are not used nearly enough by many people. Some folks can’t resist the opportunity to give advice about things that they don’t really know a lot about, and it is important to recognize this, especially when it comes to the subject of estate … [Read More]
Divorced Parents May Have Dual Objectives
It could be easy to imagine an estate planning scenario involving two people who have been married to one another all of their lives who have children together and perhaps some grandchildren. Of course these types of traditional families exist, but during our current era divorce is very common. As a result you have situations … [Read More]
Is Estate Planning Only Relevant To Seniors?
When you start to get up there in years and see some of your friends and family members pass away it is not difficult to recognize the immediate relevancy of estate planning. However, many people who are younger feel as though estate planning is not something that they have to worry about until they reach … [Read More]
Tax Free Gift Of Education
At the present time the estate tax exclusion is $5 million as a result of the passage of the tax relief act that was signed into law last December. However, it is important to remember that this change is not a permanent one. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 … [Read More]
Estate Planning & Blended Families
When you consider all the myriad details involved, estate planning can be rather complex and challenging. Depending on the size and scope of your assets and exactly what form they are in any number of financial instruments may be necessary to optimize your assets and prevent erosion. This is true even for people who married … [Read More]
Medicaid: What Can Community Spouse Retain?
We have previously cited the rather alarming spike we are seeing in the prices of long-term care. To recap, there is a study that is done every year by the MetLife Mature Market Institute that places the cost of long-term care under the microscope. In 2010 the average cost for a yearlong stay in a … [Read More]
Removing Your Home’s Value From Your Estate
Due to provisions that are contained in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 the estate tax exclusion is now $5 million. What this means is that your heirs will owe no estate tax at all if the value of your estate is $5 million or less. Any portion of … [Read More]
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