The SECURE Act was enacted in December of 2019, and it made some changes to the individual retirement account parameters. In 2021, legislation that would make further changes was introduced. It has been making its way through the legislative process since then. According to reports, lawmakers are attempting to approve the measure that is being … [Read More]
Shape Your Estate Plan to Suit Your Needs
A lot of people wonder why legal counsel is necessary when you are planning your estate. There are a number of different reasons, but there is one that stands above the rest: understanding your options. Asset transfers can be facilitated in different ways, and specific concerns can be addressed on a case-by-case basis. With this … [Read More]
Connecticut Estate Tax Exclusion Will Rise Next Year
The accumulation of wealth is a very good thing. However, from an estate planning perspective, it can present some added challenges depending on the extent of your resources. 2023 Connecticut State Estate Tax Exclusion There are 12 states in the union and have state-level estate taxes. As luck would have it, Connecticut is among the … [Read More]
DIY Wills and the Many Problems That Ensue
In most cases, there is nothing wrong with doing things for yourself to save money. In addition, a lot of people simply enjoy DIY projects, and the financial part of the equation is irrelevant. However, there are endeavors that are not well suited to the do-it-yourselfers, and estate planning is one of them. Downloads and … [Read More]
Estate Planning and Vacation Homes
A vacation home can provide countless family memories over the years. When you start to envision your legacy, vacay property may be a part of it. In this post, we will provide some important information about estate planning and vacation homes. Do Your Children Really Want the Home? The thought of your children and their … [Read More]
What Are Advance Directives?
A properly constructed estate plan will take a holistic, 360 degree approach. Of course, you have to make sure that assets get into the hands of your loved ones in the appropriate manner. This is the part of the estate planning process that everyone understands in a general sense. At the same time, you should … [Read More]
Blended Families and Estate Planning: 4 Things You Should Know
Estate planning attorneys always give clients a heads up from the beginning. This is not a “one and done” process in most cases if you put a plan in place relatively early on. The only certainty in life is change, and evolving circumstances can trigger the need for estate plan updates. Changes in marital status … [Read More]
What Is the Medicaid Look Back Provision?
As elder law attorneys, we counsel clients that are concerned about legal and financial matters that they may face as seniors. Without question, long-term care is at the top of the list. Medicaid is relevant to this subject, and we will explain the Medicaid look back provision in this post. Long-Term Care and Medicare To … [Read More]
What Documents Are in a Complete Estate Plan?
There is no universal, one-size-fits-all plan. At the same time, some of the documents in a complete estate plan are necessary for everyone. In this post, we will provide clarity that will help you cover all of your bases appropriately. Asset Transfers All estate plans will arrange for postmortem asset transfers. However, there are different … [Read More]
What Is a Totten Trust?
There are many different trusts used in the field of estate planning. We endeavor to provide explanations in some of our posts, and we will look at the Totten trust in this one. Payable on Death Account Back in 1904, there was a court case that was decided by the New York Court of Appeals … [Read More]
( By appointment only )