Estate planning can seem like a complicated matter, and there are intricacies and some complicated devices. This being stated, there are some basic tips that you can digest to gain a fundamental understanding of the process, and we will provide three of them here. Don’t assume a will is the appropriate asset transfer device. A … [Read More]
Asset Protection: Secure Your Family’s Future
You may be laser focused when it comes to the accumulation of resources, but you should be just as concerned about protecting your assets. In this post, we will look at asset protection from a few different angles. Small Business Asset Protection If you are the owner of a small business, you can be held … [Read More]
Why Would a Trust Be Preferable to a Will?
You may equate estate planning to the creation of a will, but there are other options. In many cases, a trust of some kind will be preferable, and we will look at some of these scenarios in this post. Special Needs Planning Most people with disabilities rely on Medicaid for their health insurance, and individuals … [Read More]
What Is the Connecticut Medicaid Asset Limit in 2021?
The Medicaid program is largely ignored by people with health insurance that will qualify for Medicare when they are 65 years of age. This being stated, it should definitely be on your radar if you want to preserve your legacy for the benefit of your loved ones. It is important because of one inconvenient truth: … [Read More]
Follow These Steps to Get Through Probate
If someone asks you to be the executor of their estate, you are naturally going have questions if you have no knowledge of the process. In this post, we will break it down to some simple steps to give you an idea of the tasks that must be completed along the way. Produce the Document … [Read More]
Five Unusual Trusts Demystified
There are many different trusts that can be used when you are devising your estate plan. A layperson would have no reason to understand all the options that exist, and this is why legal counsel is invaluable. We endeavor to explain the various devices that can be utilized, and in this post, we will demystify … [Read More]
Proper Planning Can Prevent a Conservatorship
The process of estate planning should be viewed in a holistic manner. Yes, you want to make sure that your loved ones receive their inheritances when the time comes, but you should also consider end-of-life eventualities. Anticipated Longevity It can be difficult to imagine a time when you will be unable to handle all of … [Read More]
The Tax Man Cometh: Adjust Your Estate Plan Now
The pandemic has forced many people to put some non-essential responsibilities on the back burner. This holding pattern may apply to your periodic estate plan review, but it is now time for action. If you know that a revision is necessary because of a life change, we are here to help, and general reviews are … [Read More]
Does Medicaid Seize Remaining Assets in a Special Needs Trust?
The majority of people in the United States get their health insurance through their employer provided plans. Unfortunately, a high percentage of people with disabilities are not in a position to hold jobs, so this is not an option for them. Everyone needs health insurance, but it is especially important for these folks, so the … [Read More]
What Happens to Assets Outside of My Living Trust?
A living trust is a highly effective estate planning tool that can be the ideal asset transfer vehicle. When you establish a living trust, it is important to fund the trust right away, because it serves no purpose if the assets that comprise your estate have not been conveyed into the trust. All different types … [Read More]
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