We do not all have perfect family members with no flaws. Otherwise good people can sometimes have weaknesses that can be a source of concern when you are planning your estate. Giving someone who has a drug or alcohol problem or a demonstrated inability to handle funds a large direct inheritance could be a recipe … [Read More]
Nursing Home Alternatives Exist
You may be shocked to find out the facts if you are not aware of the current cost of nursing home care in the greater Hartford area. The MetLife Mature Market Institute publishes a survey every year that lets us know where we stand when it comes to long-term care costs. The 2012 survey indicates … [Read More]
Understand Limitations of Social Security
The baby boomer generation is reaching the typical age of retirement, and surveys are showing that many of these individuals are not prepared. Many people don’t take retirement planning seriously enough because they have a certain misguided notion in the back of their minds. They feel as though Social Security will be there for them … [Read More]
Financial Assistance for Aging Wartime Veterans
Most people are aware of the fact that people who serve for at least 20 years in the United States military are entitled to a retirement pension. This pension certainly helps when you are planning for retirement, and this is a reward for the sacrifices that service members make when they serve their country. There … [Read More]
What Is a Family Limited Partnership in Connecticut?
There are many different legal devices that are used in the field of [Read More]
Consider a 529 Plan
A Look at Intentionally Defective Trusts
The federal estate tax looms large for people who have been successful throughout their lives. At the current time the maximum rate of the estate tax is 40%, and the lifetime exclusion is $5.25 million. There are various different recommendations that astute estate planning lawyers can make for people who are faced with the prospect … [Read More]
Probate in Connecticut: Can It Be Avoided?
Everyone has heard of the estate planning document called a last will. If you maintain personal ownership of your property and arrange for its transfer after your passing through the terms of a will, probate will be a factor. The process of probate in Connecticut is something to be aware of when you are planning … [Read More]
How Is Property Distributed If There Is No Will?
intestate succession laws of the state of Connecticut. Intestate succession laws are similar in every state, but there are some differences. If you passed away in Connecticut with children still alive but no spouse, your children would inherit all of your probate property. Your spouse would inherit everything if you had a surviving spouse but … [Read More]
Don’t Forget IRS Form 709 to Account for Gifts
A lot of people are not aware of the fact that gifts that you give throughout your life are potentially taxable. We have a federal estate tax in place, and the gift tax prevents people from giving away their assets while they are still alive in an effort to avoid the estate tax. The two … [Read More]
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