States are all over the board in their taxation of income. Some tax at a low rate, some tax at a high rate, and some don’t tax at all. Read on to learn more about state income taxation and how you could avoid it. [Read More]
State Income Taxation of Nongrantor Trusts
States are all over the board in their taxation of income. This is doubly true when it comes to the taxation of nongrantor trusts. By using nongrantor trusts, you could avoid the state income taxation of property in that trust. Read on to learn more. [Read More]
New Tax Proposals
There are two new tax proposals being floated. One is an income tax proposal and the other is a wealth tax proposal. Read on to learn more about these proposals and whether they might impact you or your clients. [Read More]
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. [Read More]
Connecticut Elder Abuse Registry Passes Committee
Elder abuse and neglect is something we should all be concerned about given the fact that we will all (hopefully) be among the elderly ourselves one day. Although elder abuse is not something new, it has only gained national attention in recent years, due in large part to the dramatic increase in the senior population. … [Read More]
Questions to Ask an Elder Care Attorney
The population of older adults in the United States has grown in recent decades at a historical rate — and shows no signs of slowing down in the decades to come. On the contrary, experts tell us that the older population (age 65 and older) will outnumber their younger counterparts (age 21 and younger) for … [Read More]
What Is an Incentive Trust?
Your initial estate planning efforts may consist of nothing more than executing a Last Will and Testament that ensures your assets will be distributed according to your wishes in the event of your sudden death at an early age. You will, however, undoubtedly elaborate on that plan as you acquire more assets and as your … [Read More]
What Is Family Business Succession Planning?
Once upon a time, small family businesses were the backbone of the American economy. Children learned trades and/or management skills from helping in the family business and it was assumed that one of those children would assume control of the business upon the retirement, disability, or death of the patriarch or matriarch of the family. … [Read More]
Will My Father Qualify for Medicaid?
For an adult child, it can be extremely difficult to watch a parent succumb to the physical and/or mental deterioration that occurs as a result of the natural aging process. It can be even harder to watch a parent’s deterioration caused by Alzheimer’s or another dementia disease. If you find yourself in just such a … [Read More]
Tax Tips after New Year
The New Year is here. Can you do anything to reduce your tax liability for 2018? This article provides a few tax tips now that we’ve begun another year. Read on to learn more. [Read More]
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