Your initial estate planning efforts may consist of nothing more than executing a Last Will and Testament that ensures your assets will be distributed according to your wishes in the event of your sudden death at an early age. You will, however, undoubtedly elaborate on that plan as you acquire more assets and as your family expands. Eventually, your estate plan will likely include a wide range of estate planning tools, one of which may be an incentive trust. The Glastonbury trust lawyers at … [Read more...] about What Is an Incentive Trust?
Wills and Trusts
Creating a successful estate plan requires you to take a wide range of factors into consideration as well as blend numerous goals into one cohesive plan. Deciding who you wish to pass down your assets to is only the beginning for most people. You may also need to decide how you wish to pass down those assets. This is particularly true if you have a beneficiary to whom you are hesitant to gift a large lump sum inheritance. The Westport living trust attorneys at Nirenstein, Horowitz & … [Read more...] about How to Use a Living Trust to Stagger an Inheritance
Over the course of your lifetime, you will probably work toward building up your estate assets so that they can provide for you and your loved ones down the road. Acquiring assets, however, should not be your only goal. You also need to protect the assets you acquire. Your estate plan can help you do just that through the use of asset protection tools and strategies. Certain types of trusts, for example, will keep your estate assets safe from all types of threats. The key to keeping assets safe … [Read more...] about What Type of Trusts Protect Assets?
A Last Will and Testament is traditionally used to distribute estate assets in a simple estate plan. If your estate plan still uses a Will for its foundation, it might be time to consider another option – a trust. A trust can also be used to distribute estate assets after your death; however, a trust can also be used to help achieve a multitude of additional estate planning goals in the meantime. Last Will vs. living trust – what is the difference and which one is right for your estate … [Read more...] about Last Will vs. Living Trust
Hartford estate planning attorneys can provide assistance with the creation of an original estate plan if you do not yet have a plan in place already to protect your wealth and to provide for your loved ones. The help that Nirenstein, Horowitz & Associates provides, however, extends beyond just assisting you with taking the initial steps to control your future and to control the destiny of your family by creating an appropriate estate plan. Our legal team can provide you with guidance and … [Read more...] about Do You Need to Talk with Estate Planning Attorneys to Update a Will?
One of the key questions asked of Glastonbury estate planning attorneys is whether or not a will should be created. Many people have heard the advice that making a will is important, but don't necessarily think they actually need to make this legal document yet – perhaps because they are too young or because they have no dependents. The reality is, you definitely should create a will. You may also want to create other estate planning documents, such as a living trust and/or an irrevocable … [Read more...] about Should I Create a Will?
When it comes to estate planning, many people think of only one legal tool: wills. While it is true that a last will and testament can be an important part of your plan for your legacy, a will is far from the only document that most people need to create in order to prepare for the end of their life and for what happens after they pass on. If you create only a will and you do it on your own, you could be putting assets in jeopardy and could be missing out on important tools that help to … [Read more...] about 5 Reasons Wills Aren’t A Sufficient Estate Plan
A Connecticut trust lawyer at Nirenstein, Horowitz & Associates can provide you with invaluable help in determining if you need a trust. If you could benefit from including a trust as a part of your comprehensive estate plan, an experienced attorney can also assist you with creating a trust. Trust creation is one of the most important parts of estate planning for many people, including individuals who want to address the special needs of heirs or beneficiaries, such as heirs who may have … [Read more...] about 4 Mistakes A Connecticut Trust Lawyer Helps Avoid
There are many substantial advantages to creating a trust. Trusts are powerful legal tools and, depending upon the kind of trust you create, you can protect assets, take care of heirs, plan ahead for incapacity, or accomplish other goals. If you are thinking about potentially creating a trust, you should talk with an experienced attorney both about whether trust creation is a good choice for you and about what kind of trust you need to create. Nirenstein, Horowitz & Associates will … [Read more...] about Signs That Creating a Trust is Right for You
A testamentary trust is one of many different kinds of trusts which is recognized under Connecticut trust law and which is created for the purposes of controlling and protecting assets. There are many benefits to a testamentary trust, as well as certain limitations. Because there are different types of trusts, each with their own pros and cons and purposes, it is important for you to talk with an experienced attorney about how a trust should fit within your estate plan. Nirenstein, … [Read more...] about What is a Testamentary Trust?