In our last post, we shared some of the things that good estate planning can do for you and your family. Since there are so many of them, we have to follow up with a second installment. Long-Term Care When you get good estate planning information from an attorney, you can avoid costly errors related … [Read More]
What Can Good Estate Planning Do for You? (Part 1)
There is a difference between good estate planning and an uninformed, hope for the best DIY approach. When you work with our firm to develop a properly constructed plan, your wishes will be carried out correctly, and your family will benefit. In this post, we will look at the advantages, and we will follow up … [Read More]
How Are Capital Gains Taxed in 2022?
People often have questions about taxes on inheritances, and this is understandable. When you receive income from any source, you typically have to report it when you file federal and state returns. Thus, there is the matter of how capital gains are taxed. This can seem like a complicated stew that is going to wind … [Read More]
What Does the Executor of a Will Do?
The executor of a will is the individual that will handle the estate administration tasks. It is not a ceremonial role that you bestow upon someone as a sign of respect, and we will look at the details here. Selecting an Executor If you decide to record your final wishes with regard to asset transfers … [Read More]
Who Are the Heirs of a Deceased Person?
When someone passes away, who are the heirs of a deceased person? This is a question that we hear sometimes, and the answer is in your hands if you are proactive. We provide details in this post. Intestacy in Connecticut As we have touched upon at times, the studies that are conducted to gauge the … [Read More]
Guardianship and Conservatorship: Frequently Asked Questions
We find that clients sometimes have questions about guardianship and conservatorship. With this in mind, we will provide some clarity in this post, and this is an important elder law matter. What Is Child Guardianship? Caring.com has been conducting annual surveys to keep track of the estate planning preparedness of American adults. In 2022, two-thirds … [Read More]
What Are the Benefits of a Living Trust in CT?
The benefits of a living trust in CT are considerable, and we will take a look at the subject in this post. You may be surprised when you learn about the advantages that this very effective estate planning tool will provide. Total Control One of the misconceptions about trusts in general is the idea that … [Read More]
Overlapping Estate Planning Terms Can Be Confusing
$9.1 million this year. There is no federal inheritance tax, but there are six states with state inheritance taxes. This type of tax is levied on distributions to each individual inheritor rather than the entirety of the estate. Plus, in general, there are no large exclusions, but there are exemptions. Close relatives like children, spouses, … [Read More]
Are You Prepared for Life as an Octogenarian?
As elder law attorneys, we help people prepare for the eventualities of aging. Without question, it can be difficult to envision the way you will feel when you are in your 80s. At the same time, the average lifespan for someone that is 67 is the middle 80s, so this is a life stage that … [Read More]
Will Your Legacy Plan Include Charitable Giving?
You can take a broader approach when you are planning your estate and look at it as a legacy planning endeavor. When you act in a more comprehensive manner, you help to shape the way you will be remembered after you are gone. We are going to look at charitable giving here, but first, we … [Read More]
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