The process of probate is going to stand in the way of your heirs and their inheritances if you take no steps to arrange for asset transfers outside of probate. What is probate you ask? Probate is a legal process that allows a court to supervise the administration of an estate. This oversight is positive … [Read More]
What Are the Alternatives for Managing Property When a Person Becomes Incapacitated?
Incapacity planning is an important part of your overall strategy for aging. If you look at it logically, for the most part people do not suddenly pass away without going through a period of ill health. This can often involve losing the ability to make sound personal, medical, and financial decisions. What are the alternatives … [Read More]
What Are the Differences Between Legacy Wealth Planning and Traditional Estate Planning?
If you are an individual who is in possession of an extraordinary store of wealth, you should look beyond traditional [Read More]
Ruling Handed Down in DOMA Case
In the United States we have a federal estate tax. There is however a $5.25 million lifetime exclusion. Only the portion of your estate that exceeds this figure is subject to the estate tax. This exclusion applies to assets that you pass along to people other than your spouse. We have an unlimited marital deduction. … [Read More]
Connecticut Simplified Probate
If you have never researched the subject you may envision a certain scene that may take place after someone passes away. Family members gather together in a room and someone reads the last will of the deceased. A representative of some kind hands out checks and the matter is closed. In fact, things are much … [Read More]
Three Things to Know About Social Security
The baby boomer generation is reaching [Read More]
Taxes Should Be Retirement Consideration
When you are planning ahead for retirement you should try to see a 360° picture. If you think creatively with all of your options in mind you may be able to maximize your position. Many people decide that they would like to relocate during their retirement years. Others would prefer to stay put, oftentimes because … [Read More]
Are You Exposed to Transfer Taxes?
One of the first things that you must do when you are planning your estate would be to inventory your assets. To be able to know what you are passing along to your loved ones you need to know exactly what it is that you have to give. The quantity of what you have is … [Read More]
Estate Planning: What You Need & Why You Need It
Once you decide that you are no longer going to procrastinate about estate planning you are going to ask yourself exactly what you need. With this in mind we would like to share the various different components that are contained within the typical estate plan. Transfer of Financial Assets: Simple Wills Clearly, arranging for the … [Read More]
Three Things to Know About Living Trusts
You should be aware of all of your options when you are planning your estate. People are sometimes hardwired to the idea that estate planning revolves around a last will. In fact, you don’t have to use a will to arrange for the transfer of your assets, and there are reasons why you may want … [Read More]
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