The more that you understand about estate planning, the more likely it is that you will take action to protect your own interests and those of your loved ones.
Estate planning is not always as simple as expressing your wishes with regard to the slicing up of a monetary pie. Different families have different concerns, and various different courses of actions are optimal under the varying circumstances that can exist.
For example, someone who has a family member with special needs will want to protect this individual’s government benefit eligibility. If you have a spendthrift heir, you may want to make it impossible for this person to burn through his or her inheritance too quickly.
People who have been extraordinarily successful throughout their lives may have estate tax exposure. On the federal level, asset transfers that exceed $5.34 million in total are potentially subject to the estate tax.
There is also an estate tax on the state level here in the state of Connecticut, and the exemption is just $2 million. As a result, you could possibly be exempt from the federal estate tax and still exposed to the state-level estate tax.
Intricacies such as these may not be common knowledge to the typical layperson, and this is understandable. This is why knowledge and education are important, because there is a lot at stake. If you plan your estate effectively, you are doing well by your loved ones. If you do not, some devastating unintended consequences could come about.
Our firm is committed to educational outreach here in the greater Hartford area. Electronically speaking we share a steady stream of useful information here on our blog, and there is additional information available elsewhere on this website.
For example, we have assembled a series of special reports that cover virtually every estate planning and elder law topic. These reports are available to our readers free of charge. You can access the reports by clicking this link: Free Estate Planning Special Reports.
In addition to the electronically delivered information, we also conduct in-person seminars on an ongoing basis. These seminars are extraordinarily useful because you get to interact directly with estate planning professionals. You can absorb the information that is delivered in the presentation and subsequently ask any questions that you may have.
We have released our seminar schedule for the month of March. We urge you to attend the seminar that is most convenient for you. These seminars are offered absolutely free of charge, but we do ask that you let us know which seminar you will be attending so that we can reserve space.
Complementary refreshments are typically served. To see the list of seminars that are being offered in March, visit this page: Hartford Estate Planning Seminars.
Latest posts by Barry D. Horowitz, Estate Planning Attorney (see all)
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- How Long Does It Take to Probate an Estate in Connecticut? - January 14, 2020