A living trust is a very effective tool for a wide range of people. One of the major advantages is the streamlined estate administration process that these trusts provide. The trustee that will administer the trust steps into a turnkey situation, because the trust is the owner of the property. Another benefit is the avoidance … [Read More]
Estate Plan Revisions May Be Necessary
Estate planning should not be viewed as a one and done affair. When you put an original estate plan in place, it will be based on a snapshot of your life at that time. The only constant is change, so it is very likely that your plan will need to be revised over the years. … [Read More]
Can You Access Assets in a Trust?
Trusts are legal devices that are often misunderstood. If you establish a trust, you make the trust the owner of the property that you convey into it. This can lead you to the belief that you will never have access to the assets again after you fund the trust. While this is a reasonable assumption, … [Read More]
Why Do You Need an Estate Planning Lawyer?
A lot of people think that estate planning boils down to one simple act. At some point, you draw up a will and that’s the end of the story. You can buy a fill-in-the-blank legal documents online, so you can get it done in a matter of a few minutes. DIY projects have their place, … [Read More]
How Do You Protect a Spendthrift Heir?
Every estate planning situation is different, so there is no single approach that is universally right for everyone. As a layperson, you simply are not going to know all of your options, and this is why professional assistance is invaluable. With this in mind, we will look at an estate planning solution that is very … [Read More]
Is There a Connecticut Estate Tax?
Many people are surprised to hear that taxation is usually not much of a problem when an estate is being distributed to the heirs. There are no income taxes on inheritances, and if you inherit appreciated assets, you get a step up in basis. This means that you would not have to pay capital gains … [Read More]
What Does a Trustee Do?
The estate planning attorneys here at our firm often explain the anatomy of living trusts to interested clients. Before we proceed to do just that, we should point out the fact that a revocable living trust can be a very useful alternative to a last will. Assets cannot be distributed until the estate has been … [Read More]
Consider This Succession Strategy for Business Partners
Small business owners face certain estate planning challenges, and this can be particularly true when there is a partnership. What would take place if one business partner was to pass away? There is a business succession solution that is often utilized when this type of scenario exists. Let’s look at the details. Buy-Sell Agreements Let’s … [Read More]
Low-Interest Loans: An Estate Planning Technique
The coronavirus has caused upheaval in society and the economy. But, this unique time also opens up opportunities in estate planning. Read on to learn more. [Read More]
Avoiding Family Chaos in the Coronavirus Age
In this era of coronavirus, planning is more important than ever. This article includes a brief story about a couple who didn’t plan and the family discord it enabled. Read on to learn more. [Read More]
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