The former mayor of the city of New York Ed Koch died on February 1st at the age of 88. He actually served three terms as the mayor of the city after serving as a member of the United States House of Representatives. More often than not you can learn something about [Read More]
Powerball Winner & Estate Taxes
The Powerball lottery is quite a phenomenon in the United States. Ordinary people have the opportunity to win extraordinary sums of money, even though the odds are extremely slim. Many of us have imagined winning this type of jackpot. We formulate all kinds of plans regarding what we would do if we were to come … [Read More]
How Large of an Estate Can Pass Federal Estate Tax Free?
You may think that you can just arrange for the distribution of your assets to your loved ones after you pass away without worrying about taxation. However, there is in fact a federal estate tax in place. Many people question the fairness of this tax. The money that you are able to accumulate throughout your … [Read More]
Estate Planning Seminars
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, … [Read More]
Does Your Estate Plan Need an Update in 2014?
They say that time flies, and 2013 is now behind us. As you turn the page and enter a new year, you may be revisiting some of the things on your to-do list that you have been procrastinating about. With this in mind, have you looked at your estate plan in a while? Ongoing Process … [Read More]
What If I Create a Joint Tenancy With My Child?
Joint tenancy is the condition of joint ownership. Let’s say that you own a home outright. You can add a joint tenant to the deed, and the joint tenant becomes a co-owner of the property. Joint tenancy can potentially be used when you are [Read More]
Are Revocable Living Trusts Only for the Wealthy?
There are those who harbor misconceptions when it comes to estate planning. One of these is the notion that trusts are only useful for wealthy people. It is true that certain types of trusts are used by those who could be described as wealthy. However, revocable living trusts are useful for people of relatively ordinary … [Read More]
Medicaid, SSI, and Special Needs Trusts
The Medicaid program is a need-based program. It is not available to people who have significant personal resources to draw from. Supplemental Security Income (SSI) is also a need-based program. Many people who have disabilities rely on these programs. Medicaid provides health insurance to those who can qualify. SSI delivers a modest amount of monthly … [Read More]
Medicaid Planning & Early Signs of Dementia
When you are approach the process of estate planning in a holistic way. While there are certainly exceptions, people generally pass away after reaching an advanced age. The average life span at the present time is 78 years, but the segment of the population that is 85 and older is growing faster than any other. … [Read More]
How Long Does the Probate Process Take?
The probate process comes into play when you are in direct personal possession of property after you pass away. As a Connecticut resident, if your estate is valued at less than $40,000, you could potentially qualify for a simplified probate procedure. Otherwise, your estate must pass through the full probate process unless you take steps … [Read More]
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