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]
What Can Good Estate Planning Do for You? (Part 2)
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]
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